The juristic rule of imposing a financial penalty on the rich's procrastination in repaying the debts in Islamic jurisprudence | ||
| journal of islamic sciencec collge | ||
| Article 1, Volume 0, Issue 37, July 2018, Pages 367-427 | ||
| Author | ||
| Assistant Prof. Dr. Mohammed Farouq Salih Albadri | ||
| Abstract | ||
| Money has been considered the most preoccupying problem for humans. It is the ‘backbone of life’ - so called - and as a result, the Islamic Shar'a legal system law took into account the financial aspects of human life, noting individual income and expenditure and that sharing economic benefits with others was one of the most important human needs. However, one of the consequences of economic exchange is the development of debt. This has been a reality in the lives of people from ancient times, but in the present day is becoming more prominent and pervasive. Few people today are free from being either a creditor or debtor. In modern times, of course, there are institutions such as banks and other financial companies which deal extensively with the holding and trading of debt. This expansion in dealing in debt has resulted in new issues which require an updating and clarification of the juristic rule. Procrastination in the repayment of debt by the rich, whether these are individuals or corporations, has become very common and it is rare to find someone who deals with debt (financial or moral), who has not suffered from procrastination by some debtors. Many new sanctions regarding debt are available today which were not previously in place, but this problem remains . The research included the main axes of the topic as the concept of the money according to the the jurists' point of view their disagreemnts on it and its influences on the juristic rules. | ||
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