NESSECESSITY AND OBLIGATORY OF ISLAMIC SELLING CONTRACTS IN ISLAMIC BANKS ACTIVITIES

Abstract

This research tackles the Islamic law (Shareah) contracts that are applied by Islamic banks in brief. It has dealt with some jurisprudence aspects briefly.Then moved to thier application by these banks. In addition it has displayed some problems that accompanied with the application which make it difficult to these banks to fulfill these contracts as they elaborated in ( shareah). This may force Islamic banks or their clients to search for stratagems which in its turn lead to mistakes in applying the contracts from the point of view of (shareah) or to creat many difficulties for these banks to play the role of financial intermediation efficiently. Obviously these contracts represent the available way to Islamic banks now to act in accordance with (shareah). Paradoxically this is not the end of the way because of two reasons, First: the aforesaid problems we referred to just above, Secondly: such contracts are not to be obliged to Islamic banks (except Sarf contract - Exchange contract-). The field was opened for them and for Islamic jurists, economists, and Islamic bankers to search for more suitable ways to act. One condition to be followed is that they to work with (shareah) accordingly.The research ended with some conclusions and recommendations.Keywords: Islamic banking, jurisprudence, shariah, islamic selling contracts ASSIST. PROF. Dr. ABDUL AZIZ SHWAISH ABDUL HAMEED