Iran is one of the pioneers of Islamic finance. In 1983, four years after the revolution led by Ayatollah Khomeini overthrew the Shah, the Islamic government passed the Riba-Free Banking Act Etymology. The word fiqh is an Arabic term meaning "deep understanding": 470 or "full comprehension". Technically it refers to the body of Islamic law extracted from detailed Islamic sources (which are studied in the principles of Islamic jurisprudence) and the process of gaining knowledge of Islam through jurisprudence.The historian Ibn Khaldun describes fiqh as "knowledge of the rules of God In Islam, nikah (Arabic: نِكَاح, romanized: nikāḥ) is a contract exclusively between a man and woman. Both the groom and the bride are to consent to the marriage of their own free wills. A formal, binding contract - verbal or on paper - is considered integral to a religiously valid Islamic marriage, and outlines the rights and responsibilities of the groom and bride. Islamic ethics (أخلاق إسلامية) is the "philosophical reflection upon moral conduct" with a view to defining "good character" and attaining the "pleasure of God" (raza-e Ilahi). It is distinguished from "Islamic morality", which pertains to "specific norms or codes of behavior".It took shape as a field of study or an "Islamic science" (ʿIlm al-Akhlaq), gradually from the 7th Riba (usury) is forbidden in Islam. As such, specialized codes of banking have developed to cater to investors wishing to obey Qur'anic law. (See Islamic banking) The following quotations are English translations from the Qur'an: Those who consume interest will stand (on Judgment Day) like those driven to madness by Satan's touch. This is riba fadl, which means selling something for more of the same type or commodity. This is not permissible. · Riba an-nasiah is, for example, selling a sa' of wheat for two sa's of barley to be paid later, after one or two days, i.e., the price is not to be taken until after the sitting in which the deal is done. This is riba nasiah. .

types of riba in islam