Sharīʿah Solution for the Forbidden Financial Rights in a Bank after Its Conversion to the Islamic Banking System in Afghanistan: A Juristic Analytical Study
المعالجة الشرعية للحقوق المالية المحرمة للمصرف بعد تحوله إلى النظام المصرفي الإسلامي في أفغانستان: دراسة فقهية تحليلية
DOI:
https://doi.org/10.31436/ijfus.v8i2.353Keywords:
Sharīʿah solution, prohibited financial rights, banking conversion, Islamic banking systemAbstract
The conversion from the conventional to Islamic banking system refers to the shift from a model that contravenes Sharīʿah principles to one that aligns with these principles. This involves replacing the banking system based on the principle of lending and interest rates with a system based on profit and loss sharing methods. Undoubtedly, this transition was accompanied by numerous challenges in Afghanistan, most notably the handling of the bank's prohibited financial rights resulting from contracts executed before the transition. Therefore, this study is conducted to address the impacts of such contracts and find appropriate solutions for their liquidation according to the inductive and analytical approaches, and field study. The study concluded that it is necessary to dispose illicit revenues accumulated from previously established contracts. If these revenues are in the form of interest, they should either be written off or allocated to beneficial community projects. Meanwhile, prohibited items such as idols, alcohol, and forbidden meats should be destroyed, and their proceeds should be directed towards charitable causes. If the bank owns properties offering forbidden services, they should be converted to provide lawful services. The responsibility for purification lies with the shareholders and depositors before the transformation and with the bank itself afterward. Revenues should be directed towards community benefits and not used for building mosques out of respect for the sanctity of these places. The study also suggested implementing alternatives and frameworks that facilitate debt repayment for the clients while ensuring profitability for the bank in accordance with the Sharīʿah.
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