CHALLENING ASPECT:

The aspect of Modern Business World that is challenging for a practicing Muslim is Interest
which is in Arabic called Riba.

RIBA:

Riba is a concept in Islam that refers broadly to the concept of growth, increasing, or exceeding,
which in turn forbids interest credited from loans or deposits. The term "RIBA" has also been
roughly translated as the pursuit of illegal, exploitative gains made in business or trade under
Islamic law, akin to usury.

PROHIBITION OF RIBA:

RIBA is prohibited under SHARI'AH law for a couple of reasons. It is meant to ensure equity in
exchange. It is meant to ensure that people can protect their wealth by making unjust and
unequal exchanges illegal. Islam aims to promote charity and helping others through kindness.
To remove sentiments of selfishness and self-centeredness, which can create social antipathy,
distrust, and resentment. 

The Prophet said, "Avoid the seven great destructive sins." The people inquire, "O God's
Apostle! What are they? "He said, " To associate others in worship along with God, to practice
sorcery, to kill the life which God has forbidden except for a just cause, (according to Islamic
law), to eat up Riba (usury), to eat up an orphan's wealth, to give back to the enemy to flee from
the battlefield at the time of fighting, and to accuse chaste women who never even think of
anything touching chastity and are good believers."

By making RIBA illegal, SHARI'AH law creates opportunities and contexts in which people are
encouraged to act charitably.

EQUALITY:

Islam teaches us the equality in the society. Through RIBA, the person who is providing loans
become more and more wealthier by illegal means. One other thing that Islam teaches us is
helping others without sake of anything in return. But if we take a look on RIBA, the people not
provide money to needy ones as a matter to help them but to double their wealth.
PRACTICE OF RIBA:

In modern business world, RIBA is practiced almost everywhere in banks, loan giving
companies. For example, if we want to have our own house as it is need of every person living in
the society. We don’t have enough money for that and want some loan from any bank they
charge interest for it. They are actually practicing RIBA.

"Every loan which derives a benefit is a kind of RIBA."

CONCLUSION:

In the end, we conclude that RIBA is one of the aspect that is challenging the practicing Muslim
in the modern business world as it is prohibited in Islam but it is practiced everywhere in the
society.