Considering the Moral Value of the Verse of Riba (Al-Baqarah [2]:275-281) and the Practice of Bank Interest in the 21st Century; Comparative Study of Abdullah Saeed and Ziauddin Sardar

The problem of the practice of riba and bank interest among Qur’anic reviewers, especially those with contextualist views, has never ended. Even there are different opinions among contextualists. This study focuses on analyzing the thoughts and interpretation between Abdullah Saeed and Ziauddin Sardar in addressing riba in Q.S Al-Baqarah: 275-281. This research is qualitative research with a literature research footing. The research method is analytical descriptive. The content analysis uses the muqaran approach from Abdul Mustaqim’s perspective, which aims to further elaborate on how to interpret riba in the series of verses and how the concepts of riba and bank interest according to them. Used in the analysis, the practice of riba which forbidden according to Saeed is, occurred pre-Islamic because it resulted in injustice, pressure, and economic exploitation. Hile bank interest is not included in riba because there is an agreement between the two parties regarding interest rates, laws that regulate, and there is no multiplication. On N contrary, Sardar forbids all kinds of riba practices, including bank interest. N this case, the writer agreed with Saeed, at the same time, offers a synthesis that there is an element of maslah at - the hifz as - aspect in debt receivables through banks, even though they contain interest rates. This is based on the consumptive and productive receivables, both for individuals and institutions, to maintain and develop the business.