Bilal Philips – Contemporary Issues: Interest and Islamic Banking

Bilal PhilipsDecember 15, 200720 min0 comments

About this lecture

In this episode of *Contemporary Issues*, Dr. Bilal Philips explores the Islamic prohibition of interest (riba), tracing its roots in earlier scriptures and explaining how Western economies gradually normalized a practice once universally condemned. He then examines how Islamic banking — through mechanisms such as murabaha, musharaka, mudaraba, and ijara — offers a just, ethical, and proven alternative that shares both risk and reward, and is now recognized and practiced by major financial institutions worldwide.

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