Sharia Law is the basic Islamic religious law derived from the religious precepts of Islam, particularly the Quran and the opinions and life example of Muhammad (Hadith and Sunnah) which are the primary sources of sharia. For topics and issues not directly addressed in these primary sources, sharia is derived. The derivation differs between the various sects of Islam (Sunni and Shia are the A: In Shariah, riba refers to any conditional excess in exchange of a deferred payment or any excess in wealth or benefit which is conditioned in the business transaction and is not in lieu of anything. At times the condition is not explicit, however it is understood through the 'urf' (i.e. the business trend and usage). Shariah itself is the code of conduct that guides the Islamic faith and life as prescribed in the Quran. It promotes maslaha, or a balanced way of living based on the concept of fairness, discouraging excess or injustice. Key Shariah principles in Islamic finance therefore include the prohibition of riba or interest; avoidance of gharar or uncertainties; abhorrence of debt; and abstention from In Islam, gambling ( Arabic: ميسر, romanized : maisîr, maysir, maisira or قمار qimâr) [1] is forbidden ( Arabic: haraam ). Maisir is totally prohibited by Islamic law ( shari'a) on the grounds that "the agreement between participants is based on immoral inducement provided by entirely wishful hopes in the participants' minds that they The debate whether or not bank interest is permissible because it equates to the prohibition of usury is still an issue until now, so this paper aims to present various expert opinions that bank interest is not haram with various things like usury which is forbidden. This paper is a literature study with a qualitative research type that takes primary and secondary data from various reference Islam is composed of diverse branches and communities; it has no overarching institutional structure or single recognized leader. Because of this, divergent religious rulings are possible. .

types of riba in islam