—This paper aims to explain an important element that should be avoided in business dealings for them to be permissible in Islam. The interest to conduct this research was inspired by a fatwah given by some contemporary scholars. The fatwah states that Riba al-Fadhl does not exist in currency exchange, hence the topic. The objective of this research is to disclose the truth of the matter. In addition it aims to rouse the awareness of people of concern and to draw their attention to what really happened during the early days of the companions regarding the said issue. The reader is presented with clear evidence that shows that the above fatwa is wrong. The Prophet (sallallahu alaihi wasallam) said: “Gold for gold, silver for silver, wheat for wheat, barley for barley, dates for dates, and salt for salt - like for like, equal for equal, and hand-to-hand; if the commodities differ, then you may sell as you wish, provided that the exchange is hand-to-hand.”
—Riba al-fadhl, riba al-nasi’ah, abdullah ibn abbas and sarf.
Ibrahim Nuhu Tahir is with the Kulliyyah of Economic and Management Science, Department of Economic, IIUM, Selangor, Malaysia (e-mail: firstname.lastname@example.org).
Cite: Ibrahim Nuhu Tahir, " The Reason Why the Companion Ibn Abbas Changed His Opinion on Riba Al-fadhl," International Journal of Social Science and Humanity vol. 6, no. 6, pp. 475-480, 2016.