THE EFFECTS OF RIBĀ ON ISLAMIC SOCIETY A Juristic Study with Special Reference to Hanafi Fiqh and the Views of Imam al-Shafi'i and Other Major Jurists

This study examines the effects of ribā (usury and interest) on Islamic society from the perspective of Islamic jurisprudence, with particular emphasis on Hanafi Fiqh and comparative analysis of the views of Imam al-Shafi’i and other major Sunni jurists. The research adopts a library-based qualitative methodology, drawing upon the Holy Qur’an, authentic Hadith collections, classical Hanafi jurisprudential works, and recognized sources from other Sunni schools of Islamic law. The study explores the religious, moral, economic, social, legal, and institutional consequences of ribā. It also discusses Islamic alternatives, including lawful trade, benevolent lending (Qard Hasan), partnerships, and Sharia-compliant financial transactions. The findings highlight the importance of financial justice, protection of property, social solidarity, and the prevention of economic exploitation in Islamic society.