THE IMPACT OF USURY ON ISLAMIC ECONOMY, TRADITIONS AND MODERN CHALLENGES EDITOR

The article analyzes the impact of usury on the Islamic economy and its consequences for the traditional values of Muslim society. Usury, known in Islam as riba, is strictly prohibited and is considered one of the major sins that violate the principles of justice and equality. In today's world, where financial systems increasingly rely on interest rates and lending, many Muslims face the dilemma of adapting to these practices. This article examines key aspects of traditional Islamic finance that oppose usury. Islamic economics encourages investment in real assets and projects based on Shariah principles, which helps to create sustainable economic growth. However, modern challenges such as globalization and financial integration have led many Muslims to accept usury as an inevitable element of economic life. The author emphasizes the need to raise awareness about the harms of usury and its negative impact on society. The article also discusses contemporary problems in Islamic economics, including the lack of standards for Islamic financial instruments and the lack of public awareness of Shari'ah principles in finance. Finally, the article offers recommendations for the development of Islamic financial institutions that could effectively counter usury and promote a more just and ethical economic system.