The face value of a qard (loan), i.e., its principal (or principal amount). For example, a $1,000 loan must be paid off at its face value or the amount originally extended by the lender (i.e., $1,000) at the due date of repayment (tareekh al-istihqaq). Shari’a prohibits that loans are repaid for more than their face value, as the excess is riba.
December 14, 2024
