فقہ ِحنفی وظاہری میں ربا اورصرف کاتصور:معاصرمعیشت کے تناظرمیں تقابلی وتجزیاتی مطالعہ

The Concept of Ribā and Ṣarf in Ḥanafī and Ẓāhirī Jurisprudence: A Comparative and Analytical Study in the Context of Contemporary Economy

Abstract

This study explores the jurisprudential conception of Ribā (usury/interest) and Ṣarf (currency exchange) in the Ḥanafī and Ẓāhirī schools within the framework of contemporary economic challenges. The concept of Ribā has always remained a focal point in Islamic finance due to its prohibition, while Ṣarf determines the legitimacy of currency transactions under Sharīʻah. This research seeks to critically analyze how the interpretative methodologies of the Ḥanafīs and Ẓāhirīs shaped their rulings on Ribā and Ṣarf and what implications these have for modern economic systems and Islamic banking. The central research question addressed is: “How do the Ḥanafī and Ẓāhirī conceptual frameworks of Ribā and Ṣarf differ, and how can these juristic positions be applied to address contemporary economic issues, particularly in Islamic finance and currency trading?” The methodology adopted in this study is qualitative, analytical, and comparative, relying on classical fiqh texts of both schools, their uṣūl al-fiqh principles, and contemporary scholarly discourse on Islamic economics and finance. The study further incorporates content analysis of contemporary banking practices to assess compatibility with classical juristic rulings. The findings suggest that the Ẓāhirī school holds a strict and literal view on Ribā and Ṣarf, while the Ḥanafī school provides a more flexible understanding that can better address some modern financial practices within Shariah guidelines. This study concludes that recognizing these differences is important for developing practical and effective Islamic economic policies to deal with today’s financial issues.