A JURISPRUDENTIAL AND ECONOMIC STUDY OF ‘DECLINING-BALANCE PARTNERSHIP’ FINANCIAL INSTRUMENT

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MASOUMINIA GHULAMALI; SHAHEEDINASAB MUSTAFA

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Journal: EGHTESAD-E ISLAMI Year:2010 | Volume:9 | Issue:35 Page(s): 99-128

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Information Journal Paper

Title

A JURISPRUDENTIAL AND ECONOMIC STUDY OF ‘DECLINING-BALANCE PARTNERSHIP’ FINANCIAL INSTRUMENT

Author(s)

MASOUMINIA GHULAMALI | SHAHEEDINASAB MUSTAFA | Issue Writer Certificate

Keywords

DECLINING-BALANCE PARTNERSHIP (DIMINISHING)Q3

STIPULATIONQ3

CONDITION ABOUT PERFORMANCE OF AN ACT [SHART-E-FE’L]Q3

CONDITION OF SUBSEQUENT EVENTS [SHART-ENATIJEH]Q3

OPERATIONAL MODELQ3

Abstract

Considering that ‘Riba’ and interest has been prohibited in Islam, Muslim experts try to present contracts compatible with ‘shar’ei’ [jurisprudential] principles as substitutes for interest based transactions. One of such contracts, which has been suggested based on the partnership contract, is the “Declining-Balance Partnership.” This contract, on one hand can fulfill the aims of the depositors and on the other, can satisfy the goals of the economic agents. This contract can be used to construct and purchase a variety of projects and assets specially housing. The simplest form of this contract is that two persons through a partnership contract invest in a property and stipulate in the contract that within a specified period, one of the parties would sell his share to the other. The partners can agree on the selling price prevailing at the time of the contract, or they can agree on the current market price prevailing on the transfer date. The peculiarities and advantages of Declining-Balance Partnership in comparison with other contracts such as Hire Purchase and Installment Sale, and the capability of designing a financial instrument, have resulted in the popularity of this contract.Similarly it also helps in the equitable distribution of income; one of the goals of the Islamic economic system. This article which has an analytic and exploring essence, strives to analyze jurisprudentially and design an operational banking model and financial papers based on Declining-Balance Partnership, based on Imamiya [Shia] jurisprudence. During the course, the objections already raised or, which can possibly be raised regarding the said contract, will also be answered.

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APA: Copy

MASOUMINIA, GHULAMALI, & SHAHEEDINASAB, MUSTAFA. (2010). A JURISPRUDENTIAL AND ECONOMIC STUDY OF ‘DECLINING-BALANCE PARTNERSHIP’ FINANCIAL INSTRUMENT. EGHTESAD-E ISLAMI, 9(35), 99-128. SID. https://sid.ir/paper/99804/en

Vancouver: Copy

MASOUMINIA GHULAMALI, SHAHEEDINASAB MUSTAFA. A JURISPRUDENTIAL AND ECONOMIC STUDY OF ‘DECLINING-BALANCE PARTNERSHIP’ FINANCIAL INSTRUMENT. EGHTESAD-E ISLAMI[Internet]. 2010;9(35):99-128. Available from: https://sid.ir/paper/99804/en

IEEE: Copy

GHULAMALI MASOUMINIA, and MUSTAFA SHAHEEDINASAB, “A JURISPRUDENTIAL AND ECONOMIC STUDY OF ‘DECLINING-BALANCE PARTNERSHIP’ FINANCIAL INSTRUMENT,” EGHTESAD-E ISLAMI, vol. 9, no. 35, pp. 99–128, 2010, [Online]. Available: https://sid.ir/paper/99804/en

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