Seyed Abbas Mousavian

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Rejecting these theories, Mousavian maintains that the principal means of earning profit is genuine transactions and that any new transactions resulting from the expansion of the banking system must be rigorously scrutinized to ensure they are free from usury, whether in the form of loans or trade.<ref>Mousavian, Financial Instruments, pp. 150-164.</ref>

=== ~~'''~~Distinguishing Permissible and Impermissible Stratagems for Circumventing Usury~~'''~~ ===

=== Distinguishing Permissible and Impermissible Stratagems for Circumventing Usury ===

Mousavian divided stratagems for circumventing usury into permissible and impermissible ~~stratagems~~. According to him, the criterion for impermissible ~~stratagems~~ is ~~the absence of a~~ genuine intention to undertake the alternative transaction or the ~~applicability of~~ usury to the ~~stratagem despite the existence of~~ a genuine intention. He maintained that this distinction depends ~~largely~~ on the parties’ intentions. In contrast, he classified spot and deferred sales, as well as the leasing of fixed assets, among permissible stratagems. ~~He maintained that, in~~ many transactions, ~~because of the prohibition of usury~~, the parties genuinely intend to ~~enter into~~ permissible transactions.<ref>Mousavian, Financial Instruments, pp. 164-187.</ref>

Mousavian divided stratagems for circumventing usury into permissible and impermissible. According to him, the criterion for stratagems are impermissible where there is no genuine intention to undertake the alternative transaction or the circumventing act is really usury though the parties have a genuine intention. He maintained that this distinction depends mainly on the parties’ intentions. In contrast, he classified spot and deferred sales, as well as the leasing of fixed assets, among permissible stratagems. In many transactions, he believed, the parties genuinely intend to make permissible transactions to avoid prohibited usury.<ref>Mousavian, Financial Instruments, pp. 164-187.</ref>

== Securities from Mousavian’s Perspective ==

@@ Line 102: / Line 102: @@
 Rejecting these theories, Mousavian maintains that the principal means of earning profit is genuine transactions and that any new transactions resulting from the expansion of the banking system must be rigorously scrutinized to ensure they are free from usury, whether in the form of loans or trade.<ref>Mousavian, Financial Instruments, pp. 150-164.</ref>
-=== '''Distinguishing Permissible and Impermissible Stratagems for Circumventing Usury''' ===
+=== Distinguishing Permissible and Impermissible Stratagems for Circumventing Usury ===
-Mousavian divided stratagems for circumventing usury into permissible and impermissible stratagems. According to him, the criterion for impermissible stratagems is the absence of a genuine intention to undertake the alternative transaction or the applicability of usury to the stratagem despite the existence of a genuine intention. He maintained that this distinction depends largely on the parties’ intentions. In contrast, he classified spot and deferred sales, as well as the leasing of fixed assets, among permissible stratagems. He maintained that, in many transactions, because of the prohibition of usury, the parties genuinely intend to enter into permissible transactions.<ref>Mousavian, Financial Instruments, pp. 164-187.</ref>
+Mousavian divided stratagems for circumventing usury into permissible and impermissible. According to him, the criterion for stratagems are impermissible where there is no genuine intention to undertake the alternative transaction or the circumventing act is really usury though the parties have a genuine intention. He maintained that this distinction depends mainly on the parties’ intentions. In contrast, he classified spot and deferred sales, as well as the leasing of fixed assets, among permissible stratagems. In many transactions, he believed, the parties genuinely intend to make permissible transactions to avoid prohibited usury.<ref>Mousavian, Financial Instruments, pp. 164-187.</ref>
 == Securities from Mousavian’s Perspective ==

Seyed Abbas Mousavian: Difference between revisions