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Applied cases in the work of the Islamic Bank DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

Applied cases in the work of the Islamic Bank

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Applied cases in the work of the Islamic Bank Empty Applied cases in the work of the Islamic Bank

Post by claud39 on Wed Jul 31, 2019 1:29 pm

[size=36][rtl]Applied cases in the work of the Islamic Bank[/rtl][/size]

Tuesday 30 July 2019

Applied cases in the work of the Islamic Bank Alsabaah-16944

Sadiq Rashid Al Shammari  

Islamic banks are different from commercial banks in the methods of financing and employment and the use of funds through the optimal exploitation of resources and in areas that serve and benefit the society and its development through the participation of all parties in investment. And attract customers looking to the function of funding as it puts their money in real financing and investment methods, that is, their portfolios are protected by real assets and expected, and their operations are good for the economy and the creation of employment and production of products through the projects that finance them, and this will certainly lead to two essential values ​​in terms of Economic and social development. 

Economic development through the creation of areas of investment of funds to lead to sustainable economic development and also lead to a balance between the supply of money and the supply of goods necessarily leads to the imposition of inflationary pressures resulting from the increase of the agreement and also contribute to the transfer of money from speculation to non-productive goods to invest in a product, And creating jobs for large segments of society. 

The social society is based mainly on the values ​​and rules of Islamic law, and its main purpose is to invest in man as the main focus in the work for the benefit of society and the individual and to promote social solidarity and the justice of distribution. In achieving justice distribution and reducing unemployment). 

For example : 

The Islamic banks are obliged to own the goods or goods before selling them or disposing of them. The purchase of the commodity by the bank and its seizure is different according to the condition of the commodity. Such as cars) can be purchased through the communication or any communication devices ..... Car ownership of the car is transferred legally to the bank. The receipt of the goods and goods shall be a real or legal sanction by letting or enabling the vehicle to be located in the merchant's stores. The ownership of the goods shall be borne by the bank. The bank shall bear the damage or loss of the commodity after it has been held to guarantee it.

- If there is any error, the Shari'ah Board may set aside the profits of these transactions which do not comply with this law and include them in the "faces of good" and measured against this situation (Murabaha contracts) when they are disciplined to own the bank for the commodity (or car) and then sell it Murabaha What prevents this is permissible.

Sometimes the banks may sign a contract (binding promise) signed by the customer or taken from it (a serious margin). These cases are used by banks in the case of buying the commodity at the request of the customer and used to avoid some of the risk of the customer to buy and the bank to sell the commodity and loss, The bank will pay the amount of the loss (from the amount of the margin of seriousness), either if the bank did not lose or was able to refund the commodity does not take from the customer anything and obliges the bank to return the amount of margin of seriousness to the customer. 

- Shari'ah Supervisory Boards are required to have their fatwas in line with the Shari'a standards issued by the Accounting and Auditing Organization for Islamic Financial Institutions (IOFI) in addition to the Central Shari'a Board (if any).

There are many cases of employment, as well as for example, Ijara Muntahia Bittamleek, as some consider it a sale by installments, knowing that the Ijarah Muntahah Bittamleek takes the ruling of Ijara in all cases (and this will be explained later) on the subject of Ijara as the bank bears the responsibility of the loss (commodity or eye) During the period of the lease, because the bank is considered the owner of this (eye or commodity) as well as the main maintenance (for the commodity or the eye) and insurance for it because it belongs to the bank because the property will later be transferred to the lessee under an independent contract of sale that has nothing to do with the lease contract, And the sale of Mtour fact is the Contracts that do not comply with these controls and restrictions governing this contract according to the Shari'a standard.

  Note: The Islamic bank has to own (the property or eye) before renting it and also registers the property in the name of the bank in most systems that allow it.

The Shari'a standards issued by Iwifi have been approved by Ijara Al Muntahia Bittamleek and have also been approved by many Shari'a bodies. Special regulations have been set up by the Islamic banks, which is an important formula for those wishing to own real estate and others.

As for the Tawarruq carried out by Islamic banks and some problems, we will put some opinions on it.

- Some consider that Tawarruq is a type of selling the sample or just get liquidity in ways beyond the law. 

We would like to clarify that the tawarruq performed by Islamic banks is a sale of murabaha. The bank buys and owns the commodity or the eye and then sells it to the customer. The customer in turn sells this commodity to another party to obtain cash (or liquidity) or assigns a third party other than the bank to sell them. The seller shall sell the commodity to a dealer different from the first trader, which is contrary to the sale of the sample in which the commodity is not transferred and returns to its first owner.

Accordingly, the tawarruq performed by Islamic banks has been approved by the Islamic Fiqh Academy in its resolution No. 179 (19/5) and the prohibition of organized and reverse tawarruq because of the complicity between the financier and the customer. For the purpose of obtaining cash. This is what the Islamic banks have done to finance the individuals and has avoided all the suspicions that exist, as the bank does not intervene in the last sale that the customer is trying. With the dealer itself or through the agent (agent) as the customer can In order to obtain (commodity or eye) and sell it with his knowledge whenever he wishes to do so for the purpose of securing his cash flow. Accordingly, the tawarruq in Islamic banks has been approved by the Islamic Fiqh Academy.

The dispute was in the organized tawarruq in which the bank is a buyer of the commodity (for the eye or the commodity) and a seller of it by proxy from whom he bought it from the customer and sold it to a third party and deposited it in the customer's account. The Shari'a bodies of the Islamic financial institutions are careful not to trust the customer in the sale). 

This does not preclude the fact that the goods and goods used in tawarruq are local or foreign, as long as these goods are available and can be purchased real and can be received real and ruling (sorting or transport 

- Tawarruq is permissible (for need), but it is not a substitute for other forms of sales such as marriage, engagement, and so on.

And the need to meet the demands of customers and their need for cash and the inability to meet those desires to pay debts and pay salaries and other through other Islamic products, such as marriage, treatment, education, building materials and investments and to achieve the wishes of customers in a kind of contribution to the community service and move the market and benefit all parties to the contract. 

The bank benefits from the sale profit and the customer benefits from the cash. 

The banks may differ in the adaptation of credit cards according to the contract and the mechanism approved by the bank, and perhaps currently available are the cards of the good loan in return for the calculation of fees on the service as the bank bears expenses on the issuance of this type of The cards are different according to the different characteristics and types. The bank pays membership fees for the cardholder organization in addition to the costs of providing the benefits and services provided by the card. This fee can be collected once a year or monthly installments. This card charges are not linked directly linked to loan-Hassan. 

As the bank determines the amount of fees in the contract starting at a lump sum and not a certain percentage in the amount borrowed and the bank may not exceed the agreed limit while it is entitled to waive or part thereof, as the Islamic Bank offers customers cash withdrawal service from credit card and bear these banks Some costs for the delivery of these funds to the customer at any time, anywhere and in any work desired, so take some of the fees specified on them.

- As for the Islamic Bank to invest in various forms, especially speculative as it manages the accounts of investment deposits for all customers through speculation as a speculator and the customer as a guarantor of money, and the realization of profit distributed according to the agreement and these amounts deposited in customer accounts resulting from this investment, and can be deposited monthly Or annually as agreed. 
- The Bank also invests the funds of depositors who have the right to withdraw at any time in short term investments with low risks for which there are few returns. In addition, the size of the investment portfolio affects these profits and sometimes the shareholders waive part of their profits to support the profits of deposit accounts

- The bank may not grant a specific profit because it is a guarantee of profit and capital (legally prohibited) and through the expected profits or what has been achieved for previous years or through feasibility studies it proves the amount of profit historically or the expected statement and the expected profit is not binding The bank has a performance. And sometimes the bank may commit to a steady profit as the income of the investment portfolio is stable, such as investment in the form of peace or Ijara.

- Islamic banks may offer prizes (gift or gift) from the shareholders to the depositors and are not deducted from the profits of the investments of customers' savings funds. The depositor does not bear the cost of these prizes, and this award account takes the Mudaraba-based savings account to invest these funds The system of the bank and grant the money (depositor) profit according to
 the agreement.

Note that the accounts of customers in Islamic banks are subject to profit or loss Islamic banks by setting or holding mandatory and optional reserves put by Islamic banks to avoid any loss or shocks or in the case of a decline in profits from the rate of market profits.

- Islamic banks may not (in the case of the Agency) invest a fixed profit at the Agency in the same manner as speculation. This may be in the expectation that it is possible to commit not to enter into investments that do not achieve a profit of at least a certain amount.     

Some observations on some of the forbidden taboos 

It is well known that gold is gold and gold is not permissible in women, and the meaning of women is to delay one of the two possessions from the other, and gold as silver is not permissible for women, either it is permissible for women to buy gold or silver, whether they are present or absent. If the contract of peace is concluded by the word of salaam or salaf, it is necessary to accelerate the capital in the council, but if it is concluded by the word of sale, it is not necessary to accelerate the capital. That is to say that the Lord of Women is in accelerating one of them and postponing the other or postponing it to different people. This sanctity is related to money and riba-based exchanges where the adjectives are homogeneous or convergent. 
There is disagreement at the Maalikis in the validity of the measurement of silver on gold and silver.

The narrations on the authority of the Imam, the owner of a circle about the prohibition of delaying one of the two currencies when selling money in money or in one of the criticisms or permissibility or makrooh, and the dispute also in the details when selling the money to each other, the difference is very strong in the schools. 
For example: If a person wants to spend a gold coin in the bank with a coin of gold, and one of them gives it to his currency and the other to hand over his currency to another, then it is not permissible because he has lost the condition of hand-holding. Religion is absolute. (Riba) is the lord of loans. 

And Raba sales: - Riba best 100 grams gold accelerated 101 grams gold in which the late Raba Fadl. 
A woman is not a woman. It is not a debt. It includes loans and deposits. The most profitable products are a type of debt, ie, if the sale is deferred, the price is the debt. 

The sale in which the sale is deferred is selling the peace in which the sale is the debt, knowing that riba al-fadl is an increase in quantity without delaying the time. The price of the woman is to delay the time (delay) without increasing the quantity (ie, selling it with debt). (Million sale of 1 million dinars) by 1,050 dinars (one million fifty thousand dinars). 

It is permissible but subject to the contract in the contract board and if we want to sell (1200 Iraqi Dinars) with 1000 US dollars, the differential and women (or 700 JD with 1000 US dollars) 
And women. 

* Financial expert and international banker

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