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Apart from the clear Quranic injunction on the prohibition of riba, there are other issues with riba which cause it to be prohibited.

RIBA is considered a form of injustice, and exploitation. Moreover, conventional economy today is debt-based, and only does risk transfer.  
 Islamic economy in contrast is asset-based, and does risk sharing. It is all about fairness to all parties.

Dr. Mahmoud Amin El-Gamal of Rice University has wrote several papers that explain this issue in detail.

 

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Anti-RIBA OFW Lobbyist From Doha Exhorts Muslims
http://muslim-investor.com/principles/why-is-interest-riba-prohibited-in-islam.html 

Choose: Pag-IBIG Not So Kaibig-ibig or PAULA?

http://www.senate.gov.ph/republic_acts/ra%209679.pdf 

http://www.chanrobles.com/republicacts/republicactno9679_pdf.php 

or

P A U L A

 Pag-IBIG kay ALLah Una sa LAhat

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The question on why riba is prohibited is often raised by some who wonder how something that is now so prevalent in the world's economy can be prohibited.
For some, the answer to your question can be as simple as "because God said so in the Quran", but for others, an analysis of why it is prohibited needs to be done.

What is RIBA anyway?

First, we have to define what riba is. Prohibited riba in Islam falls in two categories (both termed Riba, the Arabic term for Usury).

• Riba Al Nasee' (Usury of Deferrance)
  Extending the period for a loan by charging more than the principal value.
• Riba Al Fadhl (Usury of Increase)
  Lending money for it to be returned with an added portion.

Interest today falls under both definitions.

Why is RIBA prohibited?

Apart from the clear Quranic injunction on the prohibition of riba, there are other issues with riba which cause it to be prohibited.

RIBA is considered a form of injustice, and exploitation. Moreover, conventional economy today is debt-based, and only does risk transfer.  
 Islamic economy in contrast is asset-based, and does risk sharing. It is all about fairness to all parties.

Dr. Mahmoud Amin El-Gamal of Rice University has wrote several papers that explain this issue in detail.

• An Economic Explication of the Prohibition of Riba in Classical Islamic Jurisprudence
• "Interest" and the Paradox of Contemporary Islamic Law and Finance

For a list of verses in the Quran concerning the prohibition of usury, you can find the English translation here.
You can also read an article on Islamic Halal Finance site on Interest.

http://muslim-investor.com/principles/why-is-interest-riba-prohibited-in-islam.html

CAVEAT

“The halal is clear and the haram is clear. Between the two there are doubtful matters concerning which people do not know whether they are halal or haram. One who avoids them in order to safeguard his religion and his honor is safe, while if someone engages in a part of them he may be doing something haram, like one who grazes his animals near the hima (the grounds reserved for animals belonging to the King which are out of bounds for others’ animals); it is thus quite likely that some of his animals will stray into it. Truly, every king has a hima, and the hima of Allah is what He has prohibited. So Beware, in the body there is a flesh; if it is good, the whole body is good, and if it is corrupt the whole body is corrupt, and behold, it is the heart.” [Bukhari & Muslim]

  

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A L L A H...

 

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