Seyed Abbas Mousavian: Difference between revisions
| Line 72: | Line 72: | ||
== Mousavian’s Views on Islamic Banking == | == Mousavian’s Views on Islamic Banking == | ||
Mousavian held several views | Mousavian held several views on Islamic banking, including: | ||
=== | === The Importance of Reciprocal Contracts in Islamic Banking Compared with Partnership Contracts === | ||
It has been stated that Mousavian’s early thought on banking emphasized the application of [[partnership contracts]] (contracts without a fixed rate of return and based on profit and loss),<ref>Ghafourzadeh, “An Examination of the Development of Professor Mousavian’s Thought concerning the Position of Exchange-Based and Partnership Contracts in Resource Allocation,” p. 87.</ref> but later (for example, in the | It has been stated that Mousavian’s early thought on banking emphasized the application of [[partnership contracts]] (contracts without a fixed rate of return and based on profit and loss),<ref>Ghafourzadeh, “An Examination of the Development of Professor Mousavian’s Thought concerning the Position of Exchange-Based and Partnership Contracts in Resource Allocation,” p. 87.</ref> but later (for example, in the book “Islamic Banking” that is one of his latest books) he regarded [[reciprocal contracts]], such as [[murabaha contract|murabaha]], as possessing strong narrative foundations, being effective in Islamic banking, and being superior to partnership contracts.<ref>Ghafourzadeh, “An Examination of the Development of Professor Mousavian’s Thought concerning the Position of Exchange-Based and Partnership Contracts in Resource Allocation,” p. 88.</ref> | ||
=== | === Permissibility of Penalties for Delayed Payment === | ||
According to Seyed Abbas Mousavian, a [[penalty for delayed payment]] is a means of reducing losses resulting from delayed payment of debts. He maintains that failure to pay debts on time leads to a reduction in deferred transactions, the erosion of public trust, a reduction in qard al-hasan loans, the imposition of heavier collateral and guarantees, and a decrease in the volume of financial exchanges.<ref>Mousavian, “A Jurisprudential-Legal Examination of Laws concerning Penalties and Compensation for Delayed Payment in Iran,” p. 12.</ref> | According to Seyed Abbas Mousavian, a [[penalty for delayed payment]] is a means of reducing losses resulting from delayed payment of debts. He maintains that failure to pay debts on time leads to a reduction in deferred transactions, the erosion of public trust, a reduction in qard al-hasan loans, the imposition of heavier collateral and guarantees, and a decrease in the volume of financial exchanges.<ref>Mousavian, “A Jurisprudential-Legal Examination of Laws concerning Penalties and Compensation for Delayed Payment in Iran,” p. 12.</ref> | ||