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FREQUENTLY ASKED QUESTIONS
(FAQs)

ON

ISLAMIC BANKING

Prepared by
Mr. Imran Ahmad
Mr. Ghulam Shabbir
Islamic Banking Department
State Bank of Pakistan
Karachi.

PART 1: RIBA AND INTEREST......................................................................................... 4
Question No. 1). What is Islamic Banking? ................................................................................................ 4
Question No. 2). What is the philosophy of Islamic banking?.................................................................... 4
Question No.3) What is Meant By Riba? .................................................................................................... 5
Question No.4) What is interest? Is there any difference between interest and Riba? ............................ 5
Question No. 5) What are the different kinds of Riba?.............................................................................. 6
Question No. 6). What are the revelations/verses in Holy Quran regarding prohibition of Riba/interest?
........................................................................................................................................................................ 7
Question No. 7) What are the sayings/Ahadith about Riba/Interest? .................................................... 10
Question No.8) Are there any injunctions against Riba/usury in religious texts other than Holy Quran?
...................................................................................................................................................................... 12
Question No. 9)

Does interest/Riba is related only to consumption loans or it applies to commercial

loans also?…...

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