Majority of Muslim scholar forbid interest by considering it as usury and minority
of them allow it.
In the Syrian law there is a huge confusing in the concept of "interest". Most of the
jurists think that it is a simple compensation although that
the interest has two large
concepts: civil and commercial.
The interest in accordance with the civil concept is a compensation for damages. The
law provides three different methods to fix the value of interest as compensation:
- interest rate to be fixed by the courts.
- Interest rate to be fixed by agreement of the contracting parties
- And interest rate to be fixed by law.
