Seyed Abbas Mousavian

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=== 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 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>

It is said that Mousavian emphasized the application of [[banking partnership contracts]] (contracts without a fixed rate of return and based on profit and loss) in his earlier thought,<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 contracts supported strongly by hadiths and being effective in Islamic banking which are more useful than 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 ===

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 === 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 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>
+It is said that Mousavian emphasized the application of [[banking partnership contracts]] (contracts without a fixed rate of return and based on profit and loss) in his earlier thought,<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 contracts supported strongly by hadiths and being effective in Islamic banking which are more useful than 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 ===

Seyed Abbas Mousavian: Difference between revisions