Open AccessEXAMPLES OF PROHIBITED BANKING
Author(s) -
Asmaa Abdul-Jabbar Odeh
Publication year - 2022
Publication title -
international journal of research in social sciences and humanities(online)/international journal of research in social sciences and humanities
Language(s) - English
Resource type - Journals
eISSN - 2454-4671
pISSN - 2249-4642
DOI - 10.37648/ijrssh.v12i01.002
Subject(s) - usury , negotiable instrument , database transaction , cash , surprise , business , law and economics , islam , economics , monetary economics , law , finance , political science , sociology , philosophy , theology , computer science , programming language , communication
The banking business that you should not conduct in Islamic banks is in the matter ofexchange, including the exchange on the basis of the deferred price and the discount ofcommercial papers. Also, if the exchange contract does not meet its legal conditions, then hesigns a contract in one of the two types of usury Al-Fadl or Al-Nasee’ah usury, or both as itwill be explained, if he wishes. God, and perhaps the wisdom behind the prohibition of usuryof an-Naseeh arising from the sale of cash for money other than its kind, when the forwardfactor in the price is taken into account, was not noticed by many to the extent that some wereoverwhelmed by surprise and astonishment when they learned that the Shari’a forbade thisform of transaction.The paper is begins with the definition of parallel exchange and its legaladaptation and a statement of the pillars and conditions of the exchange contract andexchange work in contemporary Islamic banks . It was concluded that it is not permissible todeal with the exchange at the forward rate .