I have avidly followed the very erudite debate between Dr.Aqdas Ali Kazmi and

Dr. Abdul Karim in your paper. I wish to express a humble opinion, which may kindly be considered by he above gentlemen inorder to lend a wider scope to their interpretation of  interest/riba, and its implications.

     At the time of prohibition of riba, paper money did not exist. The currency then circulating was composed of precious and semi-precious metals which was actually a commodity and could be traded across borders at face value, determined by its weight and  purity.

     Paper money is totally different as the value of paper money is determined by the issuing authorities, its inherent features include devaluation, revaluation, demonitisation and printing of excess money resulting in inflation. The holder of paper money is almost always at the receiving end of policies enacted by the issuing authorities and composes of unstable wealth.

     The excess in loan transaction (Riba) could mean receiving excess amount of the same commodity by the lender after a specific time period.

     I hope the two gentlemen will consider this point in future debates.