Abstract

Examples of Prohibited Banking

Dr. Asmaa Abdul-Jabbar Odeh

Volume: 12 Issue: 1 2022

Abstract:

The banking business that you should not conduct in Islamic banks is in the matter of exchange, including the exchange on the basis of the deferred price and the discount of commercial papers. Also, if the exchange contract does not meet its legal conditions, then he signs a contract in one of the two types of usury Al-Fadl or Al-Nasee’ah usury, or both as it will be explained, if he wishes. God, and perhaps the wisdom behind the prohibition of usury of an-Naseeh arising from the sale of cash for money other than its kind, when the forward factor in the price is taken into account, was not noticed by many to the extent that some were overwhelmed by surprise and astonishment when they learned that the Shari’a forbade this form of transaction.The paper is begins with the definition of parallel exchange and its legal adaptation and a statement of the pillars and conditions of the exchange contract and exchange work in contemporary Islamic banks. It was concluded that it is not permissible to deal with the exchange at the forward rate.

DOI: http://doi.org/10.37648/ijrssh.v12i01.002

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