A Critical Study of the Jurisprudential Reasons for the Money Value of Time

Document Type : Research Paper

Authors

1 Ph.D Student of Jurisprudence and Principles of Islamic Law, University of Qom, Qom, Iran

2 Associate Professor, Department of Jurisprudence and Principles of Islamic Law, University of Qom, Qom, Iran

Abstract

The time value or time price is one of the important issues in economy and financial management whose acceptance or rejection has a significant impact on the analysis of other issues related to the financial markets. Proposing legal reasons, some Islamic economy scholars and theoreticians of Islamic monetary markets have accepted the money value of time and have considered it unproblematic. Some of the most important reasons include the rule of duration (lilajali qistun min al-thaman), the difference between the price of credit and that of cash sales, and the permission of advance payment or discount of the debit. Using a descriptive-analytical method and relying on the jurisprudential and economic sources, this article reviews and criticizes these reasons and shows that first, the theory faces different jurisprudential problems in terms of imagination and second, the reasons of the adherents of the theory are unable to prove the jurisprudential credit of the money value of the time in terms of affirmation.   

Keywords

References

  1. Ameli, Shahid Thani, (1989). Al-Rawdah al-Bahiyya, Davari Bookstore, Qom. (in Arabic)
  2. Ameli, Shahid Thani, (1992). Msaleko al- afham, Islamic Knowledge Foundation, Qom. (in Arabic)
  3. Ardabili, A, (1983). majma Al-Faida va Al-Burhan,Islamic Publications, Qom. (in Arabic)
  4. Fatanat, M (1997). The Time Value of Money from the Viewpoint of Financial Management and Jafari Jurisprudence, Master Thesis in Financial Management, Tehran, Imam Sadegh University. (in Persian)
  5. Hashemi Shahroudi, S. M, (2003). Culture of jurisprudence according to the religion of Ahl al-Bayt, Encyclopedia of Islamic jurisprudence, Qom. (in Arabic)
  6. Helli, Hassan Ibn Yusuf, (1989). Ershado al- azhan, Islamic Publications of Qom. (in Arabic)
  7. Helli, Hassan Ibn Yusuf, (1993). Tazkerat al-Foqaha, Al-Bayt Foundation, Qom. (in Arabic)
  8. Helli, Jamal al-Din, (1986). Al-Mohadabo al-Bar'i fi Sharh al-Mukhtasar al-Nafi ', Qom Islamic Publications. (in Arabic)
  9. Horr Ameli, M, (1988). vsaelo shiah, Al-Bayt Foundation, Qom. (in Arabic)
  10. Ibn Manzoor, (1993). Lesano al-arab, Dar al-Fikr, Beirut. (in Arabic)
  11. Ibn Mufleh, (1997). Al-mobada 'fi Sharh Al-Muqna', Dar Al-Kotob Al-Alamiya, Beirut. (in Arabic)
  12. Ibn Rushd, (2004). Bedayato al- Mujtahid va nahayato al- Muqtasad, Dar al-Hadith, Cairo. (in Arabic)
  13. Isfahani, H, (1991). Mofradat alfazo al-qoran, Dar Al-Alam, Lebanon. (in Arabic)
  14. Isfahani, M, (Fadhil Hindi), (1995). Kashfo al-lesam, Islamic Publications Office, Qom. (in Arabic)
  15. Jafari Langroudi, M, (1999). Extensive in Legal Terminology, Ganj-e-Danesh Library, Tehran. (in Persian)
  16. Jawaheri, H, (1985). Al-Raba Fiqhian and eqtesadean, author, Qom. (in Arabic)
  17. Makarem, N, (2006). Esteftaate jadid, Ali Ibn Abitaleb School, Qom. (in Persian)
  18. Motahhari, M, (2010). Notes of Professor Motahhari, Sadra Publications, Tehran. (in Persian)
  19. Mousavian, S. A, (2006). Islamic Banking, Monetary and Banking Research Institute of Tehran. (in Persian)
  20. Mughniyeh, M. J, (2000). Fiqh of Imam Sadiq (as), Ansarian Institute, Qom. (in Arabic)
  21. Mustafawi, H, (1982). Research in the Words of the Holy Quran, Book Center for Translation and Publishing, Tehran. (in Arabic)
  22. Najafi, M.H, (1984). javahero al- kalam, Dar Al-Ihyaa Al-Tarath Al-Arabi, Beirut. (in Arabic)
  23. Sabzevari, S. A, (1992). Mohazab al- ahkam, Al-Manar Institute - Qom. (in Arabic)
  24. Tabatabai Haeri, S. A, (1997). Riyadh Al-Masa'il, Al-Bayt Institute, Qom. (in Arabic)
  25. Tabatabai Yazdi, S.M.K, (2000). Hashiato al-makaseb, Ismaili Institute, Qom. (in Arabic)
  26. Tolmi, M, (2015). The concept and scope of the rule for lel- ajal, Journal of Jurisprudence and Ijtihad, Vol. 4, Jurisprudential Center of the Imams, Qom. (in Persian)
    1. Tusi, Abu Ja'far, (1987). Tahdib al-Ahkam, Dar al-Kitab al-Islamiya, Tehran. (in Arabic)
    2. Tutunchian, I, (1996). Economic of Money and Banking, Monetary and Banking Research, Tehran. (in Persian)
    3. Wasiti, Moheb al-Din, (1993). Tajo al-arwos, Dar al-Fikr, Beirut. (in Arabic)
Religious Researches
Volume 17, Issue 1
April 2021
Pages 125-149

Files

History

  • Receive Date: 10 June 2019
  • Revise Date: 10 December 2019
  • Accept Date: 10 December 2019

Share

How to cite

Statistics