ABSTRACT
The notions and terms used in the etymological analyses in different languages to denote interest generally derive from the same root. The economic theory examines the subject matter by focusing on the money—or any other tools that serve as means of exchange—whereas the theological teachings view it as a moral issue. The monotheist religions, placing strong emphasis on social solidarity, prohibit the concept of interest for various reasons and attempt to keep it out of social and economic life. The economy-politics of the three monotheist religions in early times was successful in sustaining the interest ban for a certain period, but the pressure upon the clerics and jurists led to the emergence of a lenient approach toward the ban, which was then lifted altogether. Islam remains the only religion that has been able to sustain the ban up to modern times. However, even though Islam is able to develop an interest-free alternative financial model, the confusion observed in different parts of the Muslim world shows that the issue has not been settled.
