Socio Economic Perspective

Islamic law of prohibition of fascination was originally not determined by socio economic theory nevertheless on divine expert, which considered getting of interest as a possible act of injustice. Early Muslim students considered money to be a medium of alternate, a standard of value and a unit of consideration but rejected its work as a store of value. Lending upon fascination was prohibited as it was an act of ungratefulness and considered to be unjust since money was not created to be sought to be itself but for other objects.