Chapter22: Economies In Transition
Section: Chapter Questions
Problem 13SQ
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Question
- Differentiate between Riba-al-Nasia and Riba-al-Fadl with examples of each.
- What is the role of
Market Practice in Riba? - During COVID-19, the following economic relief packages were delivered by different states.
- Ehsaas Emergency Cash program has been launched by the Prime Minister of Pakistan on April 1, 2020.
- United States issued $1200 checks to Americans.
- The UK government committed £30 billion to saving jobs and helping the young find work in an economy ravaged by the coronavirus pandemic.
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Riba Nasi’ah : Type of riba that results from the transaction sale which unduly brings benefit to the counter parties in form of a surplus amount (this happens due to a delay).
Example : B wants $50 from A and A agrees to give it to him on a condition that B will pay him $80 if B will pay him back at a date later than the date agreed upon.
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