Stabilizing the value of debt futures comparative study in the light of Islamic jurisprudence and man-made laws

Abdul-Aziz Omar Al-Obeidi, Tariq; Hussein Ali Jawani, Alaa; Ibrahim  Abdul-Razzaq Al-Hiti, Mahmoud

doi:10.37651/aujlps.2010.15715

	Stabilizing the value of debt futures comparative study in the light of Islamic jurisprudence and man-made laws
Journal of Anbar University for Law and Political Sciences
Article 1, Volume 1, Issue 1, 2010, Pages 224-256 PDF (391.06 K)
DOI: 10.37651/aujlps.2010.15715
Authors
Tariq Abdul-Aziz Omar al-Obeidi; Alaa Hussein Ali Jawani; Mahmoud Ibrahim Abdul-Razzaq al-Hiti
Abstract
Praise be to Allah and peace and blessings be upon our master Muhammad and his family and him and after: no dispute among the scholars that if proven owed by human religion, which is gay should be returned like him, though Qemia should be returned value (1) Through extrapolation of contracts and Madainat traded between people in the modern finds of the beholder that the consequences owed rights of currencies traded Kalourguih and others are that there should be a rule legitimate in meeting especially with the price fluctuations Ksaud prices and Ankhvazaa or invalidate the sultan her (2), as these securities and similar Thmnatha idiomatic and not self-Had self to the invalidated Thmnatha and abolished the Sultan because the criticism that Thmnath self be price created such as gold and silver in their capacity as a coin. In the modern world is no longer two currencies are considered currency trading has solved papers cash alternative to them in dealing in all _khasaúsma, but this is being done on these banknotes what is happening on Alnkadin of provisions such as discharge, usury, peace and the necessity of Zakat and other provisions that take place on Alnkadin, but the difference between Alnkadin and banknotes is very clear is that the quart of Alnkadin constant does not change nor changed for being a price created, either banknotes, the Thmnatha idiomatic Bastalah Sultan and the people it, and that if annulled dealing with paper money in a particular country were not has any value but it is a plain paper, and because now prevailing in the present day in dealing in these notes and that the bear of the qualities that qualify it to serve as the gold and silver, including: 1. The banknotes and mediator for the swap and fulfill desires. 2. It has become a unit of measure and standard of goods. 3. It has become a repository of wealth and tools to make the values of things. 4. The money has become a base for deferred payments and the settlement of debts and obligations (3). And takes the rule of these papers, all of the bonds, instruments and other securities of contemporary and because of religion in general must be met by the verse (O ye who believe, fulfill your contracts) (4) and is a personal religion, and the emphasis on documented in the verse (O ye who believe! When you contract a debt for a name, write it down) (5) and the large number of transactions taking place between the people do not need to know all the marriage contract to his money and what it and when to meet his religion and this set the street wise these contracts, including not let ignorance hurt one of the parties at the expense of the other party. Here in this research shed light on the position of Islamic law and positive law of religion and install Ivaúh in any way be? Whether money Qemia or gay, especially in transactions with payment of the debt, because of problems intractable contemporary and experienced by the modern economy is a breach to fulfill debt and the treatment of Muslim jurists and law issue by searching for a solution to the problem of potential price volatility and its impact on the debt before the occurrence of these fluctuations by installing these debts are included to the right holder the right and deal with this medium as a way therapeutic address solvency cash futures in the event of sharp fluctuations in prices and the value of money, especially in countries that suffer from political instability followed by economic instability and this is the case of some developing countries such as Iraq, which Over the vicissitudes of political and economic acute led to a major crisis in the solvency futures Kalozma that occurred in the nineties in lost economic blockade imposed on it. So it was necessary to discuss the issue of the installation of Islamic law and positive law in anticipation of such a crisis, rather than leave it to the authority of the judiciary to discuss the adaptation of contracts when the volatility of prices and a crisis. We will discuss this in the first section of this research from the position of Islamic law and religion install scholars review the testimony and evidence and discuss the evidence is such evidence, while in the second section we take the position of the law to install the debt.

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