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Designing an Index for Riba in Islamic Banking Using Content Analysis and Best-Worst Method (BWM) Decision-Making Approach
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Ali Seilsepoor *1   , Mohammad Javad Mohaqeqnia2 , Hossein Seilsepoor3 |
1- Islamic Azad University, Science and Research Branch , ali.seilsepour@srbiau.ac.ir
2- Department of Finance and Banking, Faculty of Management and Accounting, Allameh Tabatabai University, Tehran, Iran
3- Allameh Tabataba'i University |
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Abstract: (3 Views) |
This study investigates the design of an index for measuring usury (riba) in Islamic banking, formulated based on Islamic principles and the objectives of interest-free banking. The avoidance of riba, as a key principle in the Islamization of banking activities, necessitates precise and consistent measurement. To achieve this, content analysis of semi-structured interviews with Islamic banking experts was conducted, and through open coding, components related to riba were identified. The research rigorously assesses the indices and components associated with usury in Islamic banking, emphasizing compliance with Sharia principles, transparency, and justice as foundational elements. Employing qualitative interviews with experts and the Best-Worst Method (BWM) for determining importance weights and prioritization, this study aims to provide a comprehensive perspective on strategies to combat usurious elements. The results highlight the critical importance of adherence to Sharia principles, transparency, and justice in banking activities, serving a complementary role in the development of sustainable Islamic banking. The minimum acceptable level for this index, as determined by experts, was established at 67.34. Despite limitations such as reliance on qualitative data, the findings offer guidelines for the design of Islamic financial policies and products. Future research can contribute by developing hybrid models and leveraging new technologies to enhance efficiency and innovation in this field. These findings provide valuable insights for designing banking policies and products that promote sustainable and ethical Islamic banking.
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Article number: 3 |
| Keywords: Islamic Banking, Content Analysis, Best-Worst . |
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Full-Text [PDF 598 kb]
(2 Downloads)
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Article type: Research |
Subject:
Special
Received: 2025/03/7 | Accepted: 2025/11/16 | Published: 2026/08/1
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