What does RIBA mean in Banking?
This page is about the meanings of the acronym/abbreviation/shorthand RIBA in the Business field in general and in the Banking terminology in particular.
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What does RIBA mean?
- Riba means Interest. Riba is forbidden in Islamic economic jurisprudence and considered as a major sin. Simply, unjust gains in trade or business, generally through exploitation. There are two types of riba discussed by Islamic jurists: an increase in capital without any services provided and speculation, which is prohibited by the Qur'an, and commodity exchanges in unequal quantities, also prohibited in the Qur'an.