La usura en el Islam: evolución histórica del interés en el mundo islámico

Abstract

This article examines the historical evolution of usury in the Islamic world, with a particular focus on the concept of ribā, the Qur’anic term for any unjust increase in economic transactions, traditionally associated with interest. Challenging the Eurocentric perspective of economic historiography, the study shows that the rejection of usury was a shared phenomenon across civilizations, though developed with specific characteristics in Islam. Adopting an economic rather than a legal or theological approach, the article analyses how the prohibition of ribā shaped Islamic financial practices from the earliest centuries, articulated through the Qur’an, the Hadiths, and Islamic jurisprudence. It highlights the moral dimension of the prohibition, aimed at safeguarding social justice, as well as the adaptive mechanisms —such as hiyal or legal artifices— that sought to reconcile religious norms with economic needs. The paper also considers the institutional implications of this prohibition on credit markets and its potential role in the so-called “Great Divergence” between Europe and the Islamic world. In modern times, the expansion of Islamic banking illustrates the persistence of the Qur’anic prohibition against usury, now reframed through contractual models such as muḍāraba and murābaḥa. In conclusion, the history of ribā in Islam reveals the interplay between religion, economy, and society, showing how moral norms shape institutional development and economic trajectories. The article suggests future research should deepen empirical comparisons of financial markets and the current role of Islamic banking in the global economy.