Granting Facilities in Islamic Banking (Book): Difference between revisions

'''Granting Facilities in Islamic Banking''' (اعطای تسهیلات در بانکداری اسلامی) is a Persian book in the field of [[economic jurisprudence]] (Fiqh al-Iqtisadi). According to Fatemeh Moghimi'an, the author of the book, the main characteristic of participatory contracts (Uqud Musharakati) is the prohibition of determining a definitive profit before the completion of the economic activity. In a sleeping partnership contract ('Aqd al-Mudharabah), the loss resulting from trade will be borne by both parties, and unfortunately, bank operators are aware of the fictitious nature of the Mudharabah but pay no attention to its validity and religious compliance (Shar'i).  

In the author's belief, in a partnership contract ('Aqd al-Shirkah), the partnership share (Sahm al-Shirkah) must be joint (Musha'). In exchange contracts (Uqud Mubadala'i), the profit rate can be determined as definitive and fixed. She states that in lease-to-own (Ijarah bi-Shart al-Tamlik), banks have placed the determination of the lessee's violations upon the banks themselves, which does not seem logical and fair. She calls reward contracts (Ju'alah) the "Mother of Contracts" (Umm al-'Uqud) and states that the legal relations in a Ju'alah contract are very complex; she also considers installment sales (Farush-e Aqsati) as identical to credit sales (Bay' Nasi'ah). According to the author, the maximum service fee rate in loan facilities (Tashilat-e Qardh) is 4 percent, but some banks charge a fee of up to 26 percent. Taking late payment penalties (Jarimah Ta'khir Ta'diyah), which is a discretionary punishment (Ta'zir) for capable debtors, is considered among other flaws of loan facilities.