An investigation into money creation from the perspective ofJaʿfari jurisprudence and statutory laws

Document Type : Research (Normal Review)

Author

Student in Level Four at Qom Seminary

Abstract

Banks and banking operations have long been the focus of Muslim scholars' attention. In addition to examining the nature of banks and banking operations, these scholars have tried to bring them in line with Islamic criteria. The modernization of banks have, on the other hand, confronted humanity with a phenomenon called 'money creation'. It can be claimed that this phenomenon has not been well examined in spite of being importantly effective in economy. For example, money creation and its Islamic jurisprudential effects have been overlooked in the law of banking without riba (interest) enacted after the Islamic Revolution.
With a careful examination into the sources of Ja'fari jurisprudence as well as the civil code and the law of banking without riba, the banking system creating money seems to suffer from two major drawbacks: first, in Islamic banking contracts like in qardh al-hasan (interest-free loan) and civil partnership, money creation leads to transactions with debt while Islamic jurists say transactions in such contracts must be 'object'; second, regardless of previous flaws, the mechanism of money creation used by commercial banks seems to be a manifestation of unlawful ownership.

Keywords

Main Subjects

Article Title [العربیة]

دراسة استحداث النقود فی فقه الإمامیة والقوانین الموضوعة

Abstract [العربیة]

حظیت البنوک والعملیات البنکیة فی وقت مبکر باهتمام علماء المسلمین الذین عمدوا إلى دراسة ماهیة هذه البنوک والعملیات التی تجری فیها محاولین جعلها تتماشى مع التعالیم الإسلامیة. ومن جهة أخرى فإنّ تطور البنوک فی العصر الحاضر جعل البشر یواجهون ظاهرة باسم "استحداث النقود"، ویمکن القول أنّ هذه الظاهرة التی تؤثر بقوة فی الاقتصاد لم تدرس بعنایة من الناحیة الفقهیة حتى الیوم، فعلى سبیل المثال کان هنالک إغفال لاستحداث النقود وآثاره الفقهیة بشکل تام فی قانون البنوک غیر الربویة الصادر بعد الثورة الإسلامیة.

وبالتدقیق فی المصادر الفقهیة الإمامیة وأیضا فی القانون المدنی وقانون البنوک غیر الربویة نجد أنّ هناک إشکالان أساسیان على النظام البنکی المُستحدِث للنقود، الأول: فی العقود الإسلامیة للبنوک من قبیل القرض الحسن والمشارکة یؤدی استحداث النقود إلى أن تکون المعاملة بالدین؛ فی حین أنّه بناء على أقوال الفقهاء ینبغی أن یکون موضوع المعاملة هو العین، والثانی: بغض النظر عن الإشکالات السابقة یبدو أنّ آلیة استحداث النقود من قبل البنوک التجاریة هی من مصادیق أکل المال بالباطل.

Keywords [العربیة]

  • المصرف
  • استحداث النقود
  • الفقه
  • أکل المال بالباطل
  • الدَین

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Islamic Law, Jurisprudence and Methodology
Volume 7, Issue 1 - Serial Number 22
Articles
May 2021
Pages 58-96

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History

  • Receive Date: 30 April 2019
  • Revise Date: 07 January 2020
  • Accept Date: 27 May 2020

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