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Rhode Island Bar Association 2014 Annual Meeting June 19 & 20 WORKSHOP PROPOSAL This initial submission does not have to be in final form, it is only a proposal. Please submit by November 22 Workshop
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Riba is the Arabic term for interest or usury, which is prohibited in Islamic finance.
Financial institutions and individuals engaged in banking activities are required to file riba reports.
Riba reports can be filled out online through the designated reporting portal provided by the regulatory authorities.
The purpose of riba reporting is to monitor and prevent any prohibited interest-based transactions in the financial system.
Information such as transaction details, parties involved, amount of interest charged, and any other relevant financial data must be reported on riba reports.
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