نوع مقاله : پژوهشی (داوری سریع)
نویسنده
مؤسسه عالی فقه و علوم اسلامی
چکیده
کلیدواژهها
موضوعات
عنوان مقاله [English]
نویسنده [English]
The Forex market, the world's largest financial market, facilitates a massive daily currency exchange volume estimated at over $6 trillion. This market encompasses various transaction types, including Spot, Forward, Futures, and Options. Forex futures contracts, accounting for more than 20% of the daily volume, play a significant role in risk management, hedging against currency fluctuations, and investment strategies.
However, from an Islamic jurisprudence (fiqh) perspective, these futures transactions face challenges, including concerns about being superficial (suri), involving unjust enrichment (akl al-mal bil-batil - consuming wealth unjustly), and lacking binding necessity.
This research examines these fiqh obstacles by differentiating between two models in Forex futures: the commitment-based (ahdi) model and the ownership-based (milki) model. The findings indicate that the ahdi model faces serious jurisprudential issues due to its reliance on cash settlement and the non-fulfillment of actual underlying commitments. In contrast, the milki model, which is based on Bay' al-Kali bil-Kali (sale of deferred item for deferred price), is generally considered problematic by most contemporary jurists.
The study suggests that by reforming the executive mechanisms, such as ensuring supervision over the fulfillment of commitments and substituting certain settlement methods, Forex futures transactions could potentially be made compatible with the principles of Imami jurisprudence.
کلیدواژهها [English]
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