The Sanctions of Riba and Alternatives of Interest in Islamic Economics

In conventional economics and banking, the interest is a phenomenon that is considered under the economic law and also it is in the banking and business calculations as a basic issue. The Interest rate is achieved of equality of supply and demand for money on the money market. Islamic religion has prohibited paying and getting of interest. Banking and finance should be non-interest. But sanctions of the interest in the Islamic will disrupt the money market unless suitable alternatives are defined. On the one hand, the study says the money speculative is lawful on the Islamic and there are two sides of money demand and supply in the Islamic economics, but on the other hand, Due to the severe sanctions of the usury in Islam, according to the principles of Islamic economy, profits rates of partnerships and transactions contracts are considered as inappropriate alternatives for the interest.