Prohibition of Interest in Islam and Christianity-A Comparative Study

Interest [or usury], among the subjects of Islamic Economics, holds a particular importance. This is because, on the one hand, it is one of the most important differentiating points between Islamic economics and Capitalism and, on the other, its presence or absence can have a determining role in economic planning, which can be know from the fact that majority of Capitalist economists consider it the agent that allocates resources and creates an economic balance. In this article, which has been compiled through a library-oriented technique, the subject of interest in Islam and Christianity and the similarities and differences of these schools regarding it, have been studied. In a comparative study, the behavior of Christians and Muslims with respect to interest and the tricks and justifications used with respect to this Divine rule, will be determined. Keeping in view the changes in ideological discussions; the expansion of markets, increase in the number of legal instruments and financial mechanisms, have been studied in contemporary teachings of Christianity and Islam. The importance and necessity of discussing interest can be judged from the importance of discussing the arrangement of finance in the economy and the vital role that it plays in dynamism of it. In compilation of this article, in which the stance of Islam and Christianity with respect to this issue was researched, the approaches that have been undertaken were studied and it has been strived that the weaknesses and strengths of the two are identified. Keeping in view the expansion of economies of various countries, the importance of developing modern financing techniques, has been stressed.