Libertarian and Austrian economic thinkers are only opposed to a central authority dictating interest rates (central banks), but they are not morally opposed to riba/ interest agreed upon between two individuals. We muslims are against both, because what we view as right and wrong (morality) is fundamentally linked to reason and revelation, whereas libertarians care only about reason (natural rights).

Our moral foundations differ. God does not feature in the equation for libertarians, austrian economists, secular people, because to them, man and his individual choices are all that matter. According to the libertarian worldview, man is sovereign in this world, not God.

If one does not believe, care, or is unconvinced that God made contact with humanity through prophets and revelation to guide us with principles for living a good and moral life in this temporary world, then I can understand why they see their own individual reason as the ultimate guide for determining right and wrong.

Is fornication outside of marriage moral if two consenting adults engage in it? For a Christian or Muslim who believes in revelation and cares about what is pleasing to their Creator, the answer will be, “No, it is not moral.”

Firstly, because God would be displeased and as our Sovereign Creator, He has the right to define what is right and wrong for humanity. Secondly, reason and observation also show that fornication leads to a host of problems for society and civilization.

We muslims, as you know, extend that same reasoning to riba (interest).

For a libertarian or secular person, two consenting adults engaging in fornication or dealing in riba (interest) is morally acceptable. God and what pleases Him do not factor into the equation, because for the secular person, God either does not exist (atheism), or even if He does exist (agnosticism or deism) the question remains: did He really send prophets and revelation to guide humanity?

We can still learn a lot from austrian economics, though.