ISLAM AND THE WEST - 48

 -       “To explain the first condition, we can say that trade is the name of the exchange of one commodity with the other. Having commodity on one side and having no commodity against it is not trade. It is deception. The same holds good for interest-based transactions where the amount of interest is a return for the time allowed in a loan - and this 'time' is no 'commodity'. The same thing happens in speculation and gambling. Here, the commodity does exist on one side, but the existence of a commodity against it is doubtful.” (Ma’ariful Qur’an)

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