Concept Qur’anic of Sodaqoh as Model Approach to Resolve Contemporary Economic Challenges of Riba

Abstract

Riba remains an important component of contemporary economic systems, including secular, liberal, and religious economic orders. Although interest-based transactions facilitate economic activities, they may also create unequal relationships and expose financially vulnerable individuals and organizations to exploitation. Despite regulatory efforts to control predatory financial practices, economic inequality, wealth concentration, and the vulnerability of disadvantaged groups remain significant concerns. In contrast, the Qur’anic economic framework emphasizes justice (‘adl) and charity as fundamental principles for protecting vulnerable members of society and promoting equitable distribution of wealth. This study aims to examine the Qur’anic approach to riba and charity and to compare its justice-oriented economic principles with the ethical foundations of capitalism, socialism, and contemporary interest-based economic systems. This study employs a qualitative research approach using library research, qualitative content analysis, and descriptive-comparative analysis. Primary data consist of relevant Qur’anic verses, selected Hadith, and authoritative Islamic scholarly literature concerning riba, charity, zakat, sadaqah, trade, lending, justice, wealth distribution, poverty, and social responsibility. Secondary data are obtained from academic books, peer-reviewed journal articles, research reports, and literature concerning capitalism, socialism, interest-based finance, economic inequality, and social welfare. Data are selected purposively and analyzed through reduction, categorization, interpretation, thematic analysis, and comparison. Source triangulation is employed to strengthen the credibility and validity of the findings. The analysis indicates that the Qur’anic economic framework places justice, rather than unrestricted freedom, profit maximization, or equality alone, at the center of economic relations. The prohibition of riba seeks to prevent exploitative financial relationships, while zakat, sadaqah, and other forms of charity provide mechanisms for supporting disadvantaged groups and encouraging the circulation of wealth. These principles distinguish the Qur’anic approach from economic systems that may prioritize individual freedom, market efficiency, or material equality as dominant objectives. The Qur’anic framework presents an integrated justice-oriented economic model that combines ethical transactions, social responsibility, charity, and equitable wealth distribution. Its emphasis on justice, compassion, and protection of vulnerable groups provides a potentially universal ethical framework for addressing economic exploitation, poverty, and inequality across diverse contemporary societies.