The Principles of Halal Standard in Banks and Financial Organizations

Rate this item
(0 votes)

Definition:

The purpose of the usage of «Halal» in these kinds of services is observance Shariah laws in requirements and activities of the organizations of financial services included banks, exchange centres, investment and finances, insurance, hiring and etc.

Requirements:

To avoid presenting any kinds of direct or indirect usury (Rabavi) services

To regard Shariah laws in the fields of financial transactions

To avoid mixing mistaken capitals with pure capitals in dealing with usury centres

To compile an accurate supervision system on the authorities in order to prevent financial corruption

Article 1: All these centers must avoid entering every kinds of deals related with usury. The details of this article will be specified by the comprehensive regulations.

Note 1: The means of «usury» is, claiming the direct augmented (increased) of the main «money» without any Shariah laws financial transactions.

Article 2: About all the past and future transactions in these organizations, the Shariah laws must be regarded. «Halal» contracts are mentioned in the jurisprudence books of the honourable religious leaders and those who issue Fatwa. Then observing «Shariah contracts regulations» is binding. 

Article 3: Because some of Halal organizations have exchanges and interactions with their similar organizations which are free from Halal system should besides observing Halal requirements in these kinds of exchanges avoid mixing suspicious goods and properties with pure properties or in case of manipulation they must get permission of authorized authorities who issue Fatwa.

Article 4: Because corruption in financial organizations will be caused degeneracy and detriment of investors and the owners of the stockholders, these organizations should employ righteous stuffs while they should teach them the basis of Shariah doctrine in their specified field they also should set up and implement an accurate control system for the executors.

Read 211 times
Halal World Institute
اContact us
Address: NO: No.8 , Afshar Al ly , Mofateh Ave, Tehran, IRAN
Postal Code:1583644313
Tel: +9821 88346803-4
Fax: +9821 88308332