Abbas Di Palma, Shaykh Abbas Di Palma holds a BA and an MA degree in Islamic Studies, and certifications from the Language Institute of Damascus University. He has also studied traditional Islamic sciences in... Answered 10 months ago
as salam alaikum
interest has been defined as "money paid at a particular rate for the use of money lent". It is one type of usury (riba) and it should be avoided.
Another type of usury/riba is an "exchange of the same good by unequal quantities or qualities" that some may still define as a form of interest but technically and according to common view has not been considered as such.
With prayers for your success.