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The Islamic prohibition of riba is unequivocal but textually not explicit. The traditional and liberal theological, juridical and philosophical hermeneutical effort has addressed it comprehensively but not conclusively. This inconclusiveness is due to the absence of the identification of the distinctive characteristic of riba, resulting from the use of limited scope pre-defined juridical and economic paradigms employing a contextual exoteric approach, excluding the broader esoteric content. This promotes an internal hermeneutical imbalance between the variables of meaning, application, rationale, underlying cause and consequence of riba, preventing the full convergence and congruence of these narrowly defined paradigms with the broadly implied paradigm in the Qur'an and the Sunna, and obstructing the promulgation of the prohibition. The resolution of this hermeneutical gridlock, predicated upon the discovery of the distinctive rationale and the derivation of the underlying cause of riba prohibition, has a direct bearing on the expansion of scope and unreserved acceptance of the prohibition.

The notion of usury/interest, subsumed under the Arabic term riba and Hebraic neshekh/marbit, has been the center of human attention throughout recorded history, but only as an exclusive economic paradigm subject to toleration, limitation or prohibition. Yet, in a clearly disproportionate treatment, all pristine major world religions consider this "economic act" as the greatest of sins, which, in Islam, additionally attracts the most graphic other-worldly punishments at the extremes of the spectrum. Economic usurpation of greater severity, e.g., theft by stealth and robbery by force do not attract as severe a Scriptural punishment as does "interest-taking" by consent, clearly implying, both scripturally and linguistically, that this seemingly exclusive "economic act" is in fact a sin of greater theological proportions. Yet, casuistry and a non-philosophical approach have so far prevented the extant Judaic, Christian and Islamic scholarship from assessing the depth and breadth of the theology at stake here. Utilizing a semiotic methodology and a philosophical/theological approach, and drawing out the glaring deficiencies of the current scholarship, this work posits that the Arabic riba /Hebraic marbit (growth), by virtue of its intrinsic characteristic of intra-activity as against its binary opposite of inter-activity inherent in bay' (exchange), causes self-emanation, self-subsistence and ex-nihilo creation, which, being exclusive Divine attributes, not only render marbit/riba an act of idolatry/polytheism (Arabic: shirk), but also thereby extend it to all spheres of human action. This diagnosis not only harmonizes the severe ordained punishment with the gravity of the sin, it also bestows perfect hermeneutical calibration to the whole riba paradigm for all monotheist religions, identifying the universal divine law: intra-activity (riba) ---lack of dependence---for the Master (Rabb) and inter-activity (bay')---dependence---for the servant ('abd). This yields the new critical theory of normative human behavior prescribed by "Islam"---the din al-fiṭra, which calls for total human conformity to the design and purpose of human creation in pairs (tathniya: duality), reserving riba (tawḥid : singularity) for the One whose divine attribute it is.

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Tez (Yüksek Lisans) - Süleyman Demirel Üniversitesi, Sosyal Bilimler Enstitüsü, İşletme Anabilim Dalı, 2007. / Bibliyografya var.

The entire banking systems in the western societies is based on the use of interest. The bank charges the borowers interest on its loans and pays its depositors interest on their deposits. On the other hand, the Middle Eastern banking system is an interest free system that prohibits the use of interest, either in receipt or in payment.

With the rapid development of the Islamic banking and finance in South Africa, the legal regime of South Africa, must be able to progress at the same rate of development. The recognition of a foreign legal system such as Islamic law in South Africa is challenging and difficult. South Africa, has an interest based insurance legislative framework and this is not aligned with the principles of the Islamic financial system. As a result of this, regulators have taken various measures to develop and promote the Islamic Industry. The amendment to the South African Tax legislation has created an equitable and level playing field for Islamic law. The South African government also has a further obligation which is to develop a legislative framework to govern Islamic law, as well as to enhance the regulatory and supervisory framework. The study of the development of the Islamic legal regime is an important area that aids legal practitioners in identifying and resolving legal disputes. The purpose of this paper is to examine the accommodation of the Islamic law of Takaful under the South African Insurance legal framework. / Public, Constitutional and International Law / LL. M. (Public, Constitutional and International Law)