Ribā and Paying Off Non-stipulated Interest: The Capability to Become a Prevalent Custom (ʿUrf) in Islamic Society

This article seeks to study ribā from a novel point of view. Paying off interest without preconditions is recommended strongly by the Prophet (PBUH). If Islamic society follows his advice, this will become a prevalent custom (ʿurf) among Muslims, which the title of the stipulated interest does not include. This article refers to the views of Islamic schools on ʿurf and how they comply with the custom in question formed hypothetically. This article finds that, according to Islamic schools, such custom is considered valid, legitimate, and necessary to follow. The last part of the article provides an important discussion on how to put this theory into practice and implement the model designed for this purpose in the Islamic financial system. This article concludes that the challenge of prohibiting ribā will be solved if non-stipulated interest can be made obligatory in Islamic society based on the juristic views on ʿurf.