Document Details

Document Type : Article In Journal 
Document Title :
Charging Fees for Debt-Guaranties: Extent of Permissibility in Islamic Fiqh (Jurism)
مدى جواز أخذ الأجر على الكفالة في الفقه الإسلامي
 
Subject : Discussion Papers 
Document Language : Arabic 
Abstract : The great majority of Islamic Jurists have always considered it unlawful , to charge a fee for a debt-guaranty. We have found this unqualified stand (untenable and questionable). On the other hand, unqualified permissibility of such a fee is also untenable, as it may lead to usurious loam under the pretext of a debt-guaranty. Hence, one must detail one’s answer, as is done in this paper. I found that charging a fee is permissible in cases where both the guaranty and its associated debt terminate together without delay. Such is the case if the ,arantor happened to be in debtor to the guaranteed, for an equivalent amount or once the guarantee became effective, the guaranteed paid the guarantor (immediately) or in the same day. In case where the indebtedness of the guaranteed towards the guarantor is not immediately extinguished after it had arisen i.e. he becomes indebted to the guarantor on a deferred basis, in such cases it is NOT permissible to charge a fee, which becomes in effect a device for devouring forbidden interest on deferred debt. 
ISSN : 1018-7383 
Journal Name : Islamic Economics Journal 
Volume : 9 
Issue Number : 1 
Publishing Year : 1417 AH
1997 AD 
Number Of Pages : 2 
Article Type : Article 
Added Date : Sunday, October 11, 2009 

Researchers

Researcher Name (Arabic)Researcher Name (English)Researcher TypeDr GradeEmail
نزيه كمال حماد NAZIH KAMAL HAMMADResearcher  

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