-

In this paper, a new definition of the Riba (usury) has been put forward. This definition should be both consistent with the aim and philosophy derived from the Islamic Scriptures as a nice philosophy of
banning the Riba and with the changing economic conditions in new era and with the change in the nature of money along with its backing


relative to the past.
If the Riba is defined as any "extra payment" and being gotten in
transactions, based on the purchasing power of money, then, holding the \purchasing power of money constant through the course of time will be categorically outside its definition.
Regarding the change in the nature of "new money", compared with "old money", four discussions should be presented as follows:
I. Compensating for the reduction of the purchasing power of money in
usance transactions is essentially and categorically outside the domain
of the true definition of the Riba.
II. Since through the course of time and transforming from the past era
to the present one, money converts to "value money", vatum, due to the change in its nature, this compensation is necessary.
III. Choosing not to compensate is in violence to "No Oppression Rule".
IV. The "rule of no injury" implies that in usance transactions, this
compensation takes place.