Literally, riba (ربا) denotes the meanings of excess, increase, growth, accretion and expansion.
Technically, it refers to:
- Every excess in return or compensation (iwadh) for which no equal value or equivalent counter-value is paid.
- A prefixed excess or surplus over and above a loan (qardh) as stipulated in a contract (aqd) or according to customary practices (urf) in relation to a given period of time.
- A mandatory (stipulated) increase in value in an amount being lent out.
Riba comes in many forms and guises including:
- Riba al-nasi’ah (riba of deferment/ time factor).
- Riba al-fadhl/ riba al-fadl (riba of excess).
- Riba al-qardh/ riba al-qard (riba of loans).
- Riba al-sunnah (riba mentioned in sunnah).
- Riba al-Quran (riba mentioned in Quran).
- Riba al-buyu (riba of sales or riba associated with a sale).
- Riba al-duyun (riba of debts).
- Riba al-jahiliyyah (pre-Islam riba).
For more on riba, see: meaning of riba.
