Riba al-nasiah

Riba of delay, due to exchange not being immediate with or without excess in one of the counter values. It is an increment on the principal of a loan or debt payable. It refers to loan/credit transactions or lending money on the understanding that the borrower will return to the lender at the end of the period the amount originally lent together with an increase on it, in consideration of the lender having granted him time to pay. Interest, in all modern banking transactions, falls under the purview of Riba Al-Nasiah.