Some Muslims are of the view that the present practice of Islamic banking relies on devices similar to the contractum trinius as a means of working around a ban of riba (usury) in religious scripture.
This system thus makes it possible to reproduce the effects of a loan with any interest rate agreed between the parties, but also has the advantage of protecting the creditor against the debtor in the event of insolvency and of circumventing the prohibition of usury.
[citation needed] Until the beginning of the 16th century, the triple contract was universally condemned by Catholic jurists and theologians because it constituted a loan with implicit interest.
[5] Wolfgang Musculus, although a protestant theologian, had a nuanced opinion on the triple contract: although he could tolerate it, he nevertheless considered it morally reprehensible[6] in that investors, too preoccupied with the love of money, no longer practiced charity.
This is the case of Leonardus Lessius who, after a thorough examination of the respect for equity within the various contracts used[11] and a rejection of the arguments of his predecessors,[12] seeks to legitimize commercial practices[13] and regrets a ban that, according to him, harms the interests of society.