This research was conducted to understand the concept of riba according to House the Neo-Modernists, represented by Fazlur Rahman and Abdullah Saeed. By discussing in detail as well as providing criticism of both understanding of usury and interest of the bank and analysing it with maqāsid al-Shari'ah. Both from the point of view of the Qur’an, the Sunnah, and the function of bank interst in this modern era. This is type of research study libarary (libarary research) which is explained with qualitative approaches (qualitative explanatory), as for the collection of data in the form of decumentation and analyze with deductive methods with the support of the hypothesis that there is. After being examined, it ca be concluded that both as a Neo-Modernist declare that usury and interst are two different things. Usury is multiplying as well as doabling is execessive so that not all bank interst that does not have the nature of such doubling is not identical and not not stated as usury. The prohibition of riba is more appropriate due to injustice (ẓulm) or the existence of exploitation of the weak. And once analyzed both arguments that exactly with maqāsid al-Shari'ah. Nevertheless the author still provide criticism against both of them as noted in the discussion of the thesis.