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

Back Download

References

• Abdel Aziz Fahmy Heikal, Encyclopedia of Economic and Statistical Terms, Arab Renaissance House, Beirut - Lebanon.
• Adel Hassan Abdul-Mahdi Al-Hamondi, The Economic Encyclopedia, Edition 1, Ibn Khaldoun House, Beirut - Lebanon, 1980 AD.
• Abu Zakaria Muhyi Al-Din Yahya Bin Sharaf Al-Nawawi, Al-Minhaj Sharh Sahih Muslim Bin Al-Hajjaj, (T.: 676 AH), 2nd Edition, House of Revival of Arab Heritage - Beirut, 1392.
• Abu Muhammad Muwaffaq Qudamah al-Maqdisi, the singer by Ibn Qudamah, (died: 620 AH), b. I, Cairo Library, 1388 A.H. - 1968 A.D.
• Sharia Standards, Accounting and Auditing Organization for Islamic Financial Institutions, (1435 AH - 2014 AD),
• Abu Abdullah Ahmad bin Muhammad bin Hanbal, Musnad of Imam Ahmad bin Hanbal, (T.: 241 AH) Investigator: Shuaib Al-Arnaout - Adel Murshid, and others Supervision: Dr. Abdullah bin Abdul Mohsen Al-Turki, i 1, the message (1421 AH - 2001 AD) ).
• Muslim bin Al-Hajjaj Abu Al-Hasan Al-Qushayri Al-Nisaburi, the authentic chain of transmission of justice from justice to the Messenger of God, peace be upon him, (T.: 261 AH), Investigator: Muhammad Fouad Abdel-Baqi, House of Revival of Arab Heritage - Beirut.
• Mahmoud Abdel-Karim Irsheed, The Comprehensive Introduction to the Transactions and Operations of Islamic Banks, Edition 1, Dar Al-Nafaes, Jordan, 2015.
• Ali Mashael, Introduction to Islamic Economics, Edition 1, Ras Al Khaimah - United Arab Emirates, 1714-1996 AD.
• Dr. Muhammad Ali Reda Al Jassim, The Basic Rules of the International Economy, Al-Tadamon Press, Baghdad, 1967 AD.
• Muhammad bin Makram, Ibn al-Manzur, Lisan al-Arab, (T.: 711 AH), Edition 3, Dar Sader Beirut, 1414 AH.
• Shams Al-Din Abu Bakr Al-Sarakhsi, Al-Mabsout, investigation: Khalil Mohi Al-Din Al-Mays, Edition 1, Dar Al-Fikr, Beirut - Lebanon:
• Indian Fatwas, Committee of Scholars headed by Nizam al-Din al-Balkhi, 2nd Edition, Dar al-Fikr, 1310 AH.
• Muhammad Amin Ibn Abidin, footnote to Rad al-Muhtar Ali al-Durr al-Mukhtar, footnote, Dar al-Fikr, Beirut - Lebanon, 1412 AH - 1992 AD
• Muslim ibn al-Hajjaj al-Nisaburi, Sahih Muslim (T.: 261 AH), Investigator: Muhammad Fouad Abd al-Baqi, Arab Heritage Revival House - Beirut.
• Muhammad Amin Ibn Abidin, footnote to Rad al-Muhtar Ali al-Durr al-Mukhtar, footnote, Dar al-Fikr, Beirut - Lebanon, 1412 AH - 1992 AD
• Muhammad bin Ahmed bin Arafa Al-Desouki, Al-Desouki’s footnote to the Great Commentary, (T.: 1201 AH), and in the margin the reports of Alish, (T.: 1299 AH), Edition 1, Dar Al-Kutub Al-Ilmiyya, Lebanon - Beirut, 1417 AH - 1997AD.
• Muhammad bin Issa bin Surah bin Musa bin Al-Dahhak, Al-Tirmidhi, Abu Issa, The Great Mosque - Sunan Al-Tirmidhi, (T.: 279 AH), Investigator: Bashar Awad Maarouf, Dar Al-Gharb Al-Islami - Beirut, 1998 AD.
• The Holy Quran.
• Muhammad ibn Ibrahim ibn al-Mundhir al-Nisaburi, the consensus, (died: 318 AH), investigation: Dr. Fouad Abdel Moneim Ahmed, Dar Al-Da`wah, Alexandria, 1402.
• Adel Muhammad Amin Al-Tayeb, The Rulings of Exchange in Islamic Jurisprudence, Master Thesis, (1416-1996AD).
• Dr. Abbas Ahmed Muhammad Al-Baz, Rulings on Exchange of Money and Currency in Islamic Jurisprudence and its Contemporary Applications, Edition 1, Dar AlNafais, 1419 AH - 1999 AD.
• Abu Al-Nada Sharaf Al-Din Al-Hijjawi, Al-Iqnaa, House of Knowledge, Beirut, Lebanon.
• Zain al-Din Ibn Najim al-Hanafi, The Clear Sea, Explanation of the Treasure of Minutes and Its Margin, Manhat al-Khaliq, Volume 1, Dar al-Kubra al-Arabiya alKubra,
• Abu Al-Abbas Ahmed bin Muhammad Bel Al-Sawi Al-Maliki, in the language of the traveler to the closest path to the small explanation, Ahmed Al-Dardeer, (T.: 1241 AH), d. i, d. T, House of Knowledge.
• Muhammad bin Ahmad al-Samarqandi, Tuhfat al-Fuqaha (T.: 540 AH), i 2, Dar alKutub al-Ilmiyya, Beirut - Lebanon, 1414 AH - 1994 AD.
• Muhammad bin Ismail Abu Abdullah Al-Bukhari Al-Ja’fi, Al-Jami’ Al-Sahih AlMukhtasar, investigation and commentary: Dr. Mustafa Dib Al-Bagha, 3rd floor, Dar Ibn Kathir, Al-Yamama - Beirut, 1407 - 1987,