Riba na faida zina athari tofauti sana kwa pande zinazohusika na kwa mfumo mzima kwa ujumla.

Interest and profits have very different implications for the parties involved and the system as a whole..

Baadhi ya matokeo ya uchumi unaotegemea riba ni:

Some of the consequences of an interest based economy are:

1. Unyonyaji wa wahitaji.

1. Exploitation of the needy.

2. Riba hulipwa na umma hata kama hawajakopa fedha yoyote. Riba imejumuishwa katika bei ya kila kitu kinachonunuliwa, na kuna riba ya deni la taifa inayokusanywa kupitia kodi.

2. Interest is paid by the public even if they borrow no money. Interest is included in the price of everything paid for and there is interest on the national debt extracted via taxation.

3. Si wote wanaathiriwa kwa usawa na viwango vya riba, jambo ambalo hutumika kama utaratibu uliofichika wa kugawanya upya mali.

3. All are not equally affected by interest rates, which serves as a hidden re-distribution mechanism.

4. Kukopesha fedha kwa faida kubwa hutoa ukwasi usio na msingi, ambao ni chanzo cha kutokuwa na utulivu na sababu kuu ya mgogoro wa sasa.

4. Lending money for high returns offers unbacked liquidity, which is the agent of instability and a chief cause of the current crisis.

5. Kupunguza thamani ya wakati ujao: Kwa kuwa riba husababisha ongezeko la thamani ya mtaji uliowekezwa, watu huona ni jambo la kawaida kupendelea kuwa na kiasi fulani sasa kuliko kiasi hicho hicho baadaye. Mantiki hii isiyohojiwa mara chache inaweza kuwa na madhara makubwa. Kupunguza thamani ya wakati ujao kunaathiri kasi ambayo tunamaliza rasilimali asilia – kadiri kiwango cha riba kinavyokuwa juu, ndivyo rasilimali hizo zinavyoweza kuisha kwa kasi zaidi.

5. Discounting the future: Since interest results in appreciation of invested capital, it is a presumed rationale for people to prefer having an amount now than the same amount in the future. This rarely questioned logic can have disastrous implications. Discounting affects the rate at which we use up natural resources – the higher the interest rate, the faster the resources are likely to be depleted15.

Hakuna sababu kwa nini hili lisiweze kufikishwa katika hitimisho lake la kimantiki, kwamba punguzo la thamani (discounting) linaweza kusababisha kutoweka kwa spishi kwa sababu za "kiuchumi zenye busara"16, na kwamba "katika kutathmini miradi ya uwekezaji wa muda mrefu, hasa ile ambayo faida na gharama zake zimetenganishwa na muda mrefu, kanuni ya thamani halisi ya sasa (net present value) humwongoza mfanya maamuzi kuongeza manufaa ya vizazi vya sasa kwa gharama ya vizazi vijavyo"17.

There is no reason that this cannot be taken to its logical conclusion that discounting can lead to the “economically rational” extinction of a species16, and that “in evaluating long term investment projects, particularly those in which the benefits and costs are separated from each other with a long time interval, the net present value rules guide the decision maker to maximise the utility of present generations at the expense of future ones”17.

Kuchanganya kwa riba na faida kumeleta mkanganyiko katika kuelewa kwa usahihi tofauti kati yake huko Magharibi. Katika Uislamu tofauti hii inadumishwa kisheria. Faida inasimama juu ya uzalishaji halisi. Pia kuna kanuni maalum kuhusu miundo ya kampuni inayoweza kuanzishwa ili kupata faida, jambo linalotoa uhalisia wa uhusiano kati ya faida na matokeo ya uzalishaji.

The mixing of interest and profits has confused an accurate understanding of their difference in the West. In Islam the distinction is maintained legally. Profits are backed by real output. There are also specific regulations on company structures that can be formed to make profit, which gives substance to the link between profits and outputs.

Simulizi ya kihistoria ya zaidi ya miaka 1,000 ya dola ya Kiislamu iliyopita inasimama kama mfano mzuri wa utulivu na ustawi. Inavutia kutambua kwamba kati ya mwaka 1932 na 1933, mji mdogo wa Austria wa Wörgl ulianzisha jaribio ambapo meya wa mji alishawishi wafanyabiashara na watawala kufanya jaribio la fedha kwa namna iliyopendekezwa na Silvio Gesell, aliyependekeza kulinda mtiririko wa fedha kwa kufanya fedha kuwa huduma ya serikali inayotozwa ada ya kushikilia/kutumia.

The historical account of more than 1,000 years of the erstwhile Islamic state stands a brilliant example of stability and prosperity. It is interesting to note that between 1932 and 1933, the small Austrian town of Wörgl started an experiment where the town's mayor convinced the business people and administrators to conduct a monetary experiment in the way suggested by Silvio Gesell, who suggested securing the money flow by making money a government service subject to a hold/use fee18.

Baraza la mji lilitoa "Vyeti vya Kazi" 32,000 (yaani, Shilingi zisizo na riba), vikiwa vimefungwa na kiasi kilekile cha Shilingi za kawaida za Austria benki. Ada ya kutumia/kushikilia pesa hizo ilikuwa asilimia 1 kwa mwezi, au asilimia 12 kwa mwaka. Ada hii ilipaswa kulipwa na mtu aliyekuwa na noti hiyo mwishoni mwa mwezi, kwa njia ya stempu yenye thamani ya asilimia 1 ya noti, iliyobandikwa nyuma yake. La sivyo, noti hiyo ilikuwa batili.

The town council issued 32,000 "Work Certificates" (i.e., interest-free Schillings), covered by the same amount of ordinary Austrian Schillings in the bank. The fee on the use/hold of the money was 1% per month or 12% per year. This fee had to be paid by the person who had the banknote at the end of the month, in the form of a stamp worth 1 % of the note and glued to its back. Otherwise, the note was invalid.

Ada hii ndogo iliwahimiza wale waliolipwa kwa Free Schillings kuzitumia kabla ya kutumia pesa zao za kawaida. Watu hata walilipa kodi zao mapema ili kuepuka kulipa ada hii ndogo. Ndani ya mwaka mmoja, Free Schillings 32,000 zilizunguka mara 463, na hivyo kuzalisha bidhaa na huduma zenye thamani ya zaidi ya Schillings 14,816,000. Schilling ya kawaida, kwa upande mwingine, ilizunguka mara 21 tu.

This small fee encouraged those who were paid in Free Schillings to spend them before they used their ordinary money. People even paid their taxes in advance in order to avoid paying the small fee. Within one year, the 32,000 Free Schillings circulated 463 times, thus creating goods and services worth over 14,816,000 Schillings. The ordinary Schilling by contrast circulated only 21 times.

Wörgl ilipunguza kiwango chake cha ukosefu wa ajira kwa asilimia 25 ndani ya mwaka huu mmoja tu, wakati Ulaya nzima ilikuwa ikihangaika na ongezeko la ukosefu wa ajira na mdororo wa uchumi. Wakati zaidi ya jumuiya 300 nchini Austria zilipoanza kuonyesha nia ya kupitisha mfumo huu, Benki ya Taifa ya Austria iliona ukiritimba wake wenyewe ukiwa hatarini. Ilingilia kati dhidi ya baraza la mji na kupiga marufuku uchapishaji wa fedha zake za mtaani19.

Wörgl reduced its unemployment rate by 25 % within this one year, while Europe was struggling with rising unemployment and depression. When over 300 communities in Austria began to be interested in adopting this model, the Austrian National Bank saw its own monopoly endangered. It intervened against the town council and prohibited the printing of its local money19.

15 Pearce D W na Turner R K, 1990, Economics of Natural Resources and the Environment, Harvester Wheatsheaf, London.

15 Pearce D W and Turner R K, 1990, Economics of Natural Resources and the Environment, Harvester Wheatsheaf, London.

16 Daly H E na Cobb J B, 1990, For the Common Good, Greenprint, London.

16 Daly H E and Cobb J B, 1990, For the Common Good, Greenprint, London.

17 Kula E, 1981, Future Generations and Discounting Rules in Public Sector Investment Appraisal, Environment and Planning A, 13: 899-910.

17 Kula E, 1981, Future Generations and Discounting Rules in Public Sector Investment Appraisal, Environment and Planning A, 13: 899-910.