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The concept of the Sale of Mutual Benefit | ||
| Economic Sciences | ||
| Article 1, Volume 6, Issue 23, 2009, Pages 159-194 PDF (0 K) | ||
| Author | ||
| Ali Kadhim | ||
| Abstract | ||
| Mutual Bene fit: is a sale which represents the initial price which was bought by the seller with aspeci fic profit. The sale of (mutual benefit) is a kinds of selling excersized by man throught several centuries, the sale of (mutual benefit) was distinguished by the confidence which depends on the sincerety and fidelity of the seller in determining of the initial price which was bought by. The (mutual benefit) was achieved by vast way in the Islamic community. This achievement was accompanied by the establishing of the Islamic banks, which were established on the idea of opposing the usury and usurious capitals and to search for investment’s means which develop transactions and returns provided that these means are legal and far from suspicion. The Islamic banks found in the (mutual benefit) the best way of investment, so that they adapted and developed this type of sale which is adequate to Islamic banks transactions that achieve the lawful benefit (halal) and securing clients needs. The paper is fulfilled to produce a legal arrangement for the (mutual benefit) which exercised by Islamic banks. this paper also explains the legal and commerce aspects of the mutual benefit described as bank’s operation the inquiry of this subject obliged to divide this paper into three chapters. We discussed in the first chapter the explanation of the identity of the bank mutual benefit and in the second chapter we made clear of the sides of the mutual benefit’s contract, In the third chapter we made clear of the outcomes of the (mutual benefit) sale contracts. We reached several results, the most important one is that the (mutual benefit) is modern bank’s transactions applied in the Islamic banks, which consist of only one contract, which is the sale contract. | ||
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