Seyed Abbas Mousavian

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He authored numerous scholarly works on Islamic banking and Islamic financial instruments, including the books [[Foundations of Islamic Finance (book)|Foundations of Islamic Finance]], [[Islamic Capital Market (book)|Islamic Capital Market]], [[Stock Speculation from the Perspective of the Sharia (book)|Stock Speculation from the Perspective of the Sharia]], [[Jurisprudential Foundations of the Money and Capital Markets (book)|Jurisprudential Foundations of the Money and Capital Markets]], [[Islamic Banking: Theoretical Foundations and Practical Experiences (book)|Islamic Banking: Theoretical Foundations and Practical Experiences]], and [[Islamic Financial Instruments: Sukuk (book)|Islamic Financial Instruments (Sukuk)]].

Mousavian’s views ~~in the field of~~ Islamic banking include ~~the following~~: 1. The use of exchange-based contracts (banking contracts with fixed returns) and their important role in Islamic banking; 2. The superiority of the Islam-centered method over the jurisprudence-centered method in Islamic banking; 3. The permissibility of the [[penalty for delayed repayment of loan installments]].

Mousavian’s views on Islamic banking include: 1. The use of exchange-based contracts (banking contracts with fixed returns) and their important role in Islamic banking; 2. The superiority of the Islam-centered method over the jurisprudence-centered method in Islamic banking; 3. The permissibility of the [[penalty for delayed repayment of loan installments]].

According to Mousavian, ~~the literature of~~ Islamic economics ~~comprises three components~~: the “Islamic economic system,” the “Islamic financial system,” and “economic jurisprudence.” The objective of the Islamic economic system is to establish public welfare. He regarded the Islamic financial system as a subsystem of the Islamic economic system whose purpose is financing (through the creation of Islamic financial instruments) and reducing the risk involved in transactions. In his view, economic jurisprudence is responsible for ~~deriving~~ prescriptive rulings (such as the ruling on usury) or declaratory rulings (such as the transfer of ownership) concerning financial and economic conduct and relations.

According to Mousavian, there are three conception in Islamic economics: the “Islamic economic system,” the “Islamic financial system,” and “economic jurisprudence.” The objective of the Islamic economic system is to establish public welfare. He regarded the Islamic financial system as a subsystem of the Islamic economic system whose purpose is financing (through the creation of Islamic financial instruments) and reducing the risk involved in transactions. In his view, economic jurisprudence is responsible for deducing prescriptive rulings (such as the ruling on usury) or declaratory rulings (such as the transfer of ownership) concerning financial and economic conduct and relations.

Abbas Mousavian ~~accepted~~ certain financial instruments, ~~such as~~ [[qard al-hasan securities]], [[murabaha securities]] ~~in some of their forms~~, and [[lease securities]]~~, as Islamic financial instruments~~. He regarded these securities as appropriate alternatives to [[bonds]] and [[preferred shares]]~~—which~~ are generally based on interest (usury).

Abbas Mousavian recognized certain financial instruments as Islamic financial instruments, including certain types of [[qard al-hasan securities]], [[murabaha securities]], and [[lease securities]]. He regarded these securities as appropriate alternatives to [[bonds]] and [[preferred shares]] which are generally based on interest (usury).

~~Mousavian maintained that, in creating~~ and using Islamic financial instruments, matters such as the conformity of [[securities]] with the standards of the Sharia and Imami jurisprudence, the accounting issues ~~associated with~~ securities, the ~~microeconomic~~ and macroeconomic effects, and the risk involved in trading securities must be considered. He also paid attention to the legitimacy and acceptability of financial instruments at the international and interdenominational levels.

with the aim of making and using Islamic financial instruments, Mousavian maintained that matters such as the conformity of [[securities]] with the standards of the Sharia and Imami jurisprudence, the accounting issues related to securities, the micro- and macroeconomic effects, and the risk involved in trading securities must be considered. He also paid attention to the legitimacy and acceptability of financial instruments at the international and interdenominational levels.

== Introduction ==

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 He authored numerous scholarly works on Islamic banking and Islamic financial instruments, including the books [[Foundations of Islamic Finance (book)|Foundations of Islamic Finance]], [[Islamic Capital Market (book)|Islamic Capital Market]], [[Stock Speculation from the Perspective of the Sharia (book)|Stock Speculation from the Perspective of the Sharia]], [[Jurisprudential Foundations of the Money and Capital Markets (book)|Jurisprudential Foundations of the Money and Capital Markets]], [[Islamic Banking: Theoretical Foundations and Practical Experiences (book)|Islamic Banking: Theoretical Foundations and Practical Experiences]], and [[Islamic Financial Instruments: Sukuk (book)|Islamic Financial Instruments (Sukuk)]].
-Mousavian’s views in the field of Islamic banking include the following: 1. The use of exchange-based contracts (banking contracts with fixed returns) and their important role in Islamic banking; 2. The superiority of the Islam-centered method over the jurisprudence-centered method in Islamic banking; 3. The permissibility of the [[penalty for delayed repayment of loan installments]].
+Mousavian’s views on Islamic banking include: 1. The use of exchange-based contracts (banking contracts with fixed returns) and their important role in Islamic banking; 2. The superiority of the Islam-centered method over the jurisprudence-centered method in Islamic banking; 3. The permissibility of the [[penalty for delayed repayment of loan installments]].
-According to Mousavian, the literature of Islamic economics comprises three components: the “Islamic economic system,” the “Islamic financial system,” and “economic jurisprudence.” The objective of the Islamic economic system is to establish public welfare. He regarded the Islamic financial system as a subsystem of the Islamic economic system whose purpose is financing (through the creation of Islamic financial instruments) and reducing the risk involved in transactions. In his view, economic jurisprudence is responsible for deriving prescriptive rulings (such as the ruling on usury) or declaratory rulings (such as the transfer of ownership) concerning financial and economic conduct and relations.
+According to Mousavian, there are three conception in Islamic economics: the “Islamic economic system,” the “Islamic financial system,” and “economic jurisprudence.” The objective of the Islamic economic system is to establish public welfare. He regarded the Islamic financial system as a subsystem of the Islamic economic system whose purpose is financing (through the creation of Islamic financial instruments) and reducing the risk involved in transactions. In his view, economic jurisprudence is responsible for deducing prescriptive rulings (such as the ruling on usury) or declaratory rulings (such as the transfer of ownership) concerning financial and economic conduct and relations.
-Abbas Mousavian accepted certain financial instruments, such as [[qard al-hasan securities]], [[murabaha securities]] in some of their forms, and [[lease securities]], as Islamic financial instruments. He regarded these securities as appropriate alternatives to [[bonds]] and [[preferred shares]]—which are generally based on interest (usury).
+Abbas Mousavian recognized certain financial instruments as Islamic financial instruments, including certain types of [[qard al-hasan securities]], [[murabaha securities]], and [[lease securities]]. He regarded these securities as appropriate alternatives to [[bonds]] and [[preferred shares]] which are generally based on interest (usury).
-Mousavian maintained that, in creating and using Islamic financial instruments, matters such as the conformity of [[securities]] with the standards of the Sharia and Imami jurisprudence, the accounting issues associated with securities, the microeconomic and macroeconomic effects, and the risk involved in trading securities must be considered. He also paid attention to the legitimacy and acceptability of financial instruments at the international and interdenominational levels.
+with the aim of making and using Islamic financial instruments, Mousavian maintained that matters such as the conformity of [[securities]] with the standards of the Sharia and Imami jurisprudence, the accounting issues related to securities, the micro- and macroeconomic effects, and the risk involved in trading securities must be considered. He also paid attention to the legitimacy and acceptability of financial instruments at the international and interdenominational levels.
 == Introduction ==

Seyed Abbas Mousavian: Difference between revisions