The Sharjah Forum discusses the standard of debt payment in light of inflation from the perspective of the Islamic economy

Sharjah, May 11 / WAM / The Islamic Forum in Sharjah organized a specialized scientific round table under the title: “The Standard of Debt Paying in light of cash inflation”, as part of its strategic cultural vision aimed at supporting the Islamic economy and providing contemporary jurisprudential solutions to the current financial challenges.

The table was held this morning at the forum headquarters, with the participation of a group of researchers and specialists in financial jurisprudence and Islamic economy, where the participants discussed the impact of changing the purchasing value of money on financial contracts, and ways to achieve balance and justice in legal transactions, in light of global economic changes.

The session was started by Mr. Issa Al -Balushi, Director of Community Programs Department in the forum, stressing that this table comes within the forum’s efforts to provide authentic legal solutions that are in line with the economic reality, and seeks to address the most prominent problems caused by cash inflation, including its impact on the rights of creditors and debtors.

Al -Balushi explained that the table represents a platform for scientific dialogue and jurisprudence, and aims to activate the role of collective diligence, and to develop applicable recommendations that are submitted to the relevant authorities, in a way that contributes to the development of the financial system in accordance with the principles of Islamic Sharia.

During his participation, Mr. Alaa Fathi Barakat reviewed the theoretical framework of the scientific thesis presented, pointing to contemporary developments in financial transactions and the repercussions of inflation on postponed contracts. He also discussed the criteria approved by the International Islamic Fiqh Complex in this field, and the need to develop them to keep pace with economic changes while preserving the purposes of Sharia.

Barakat stressed that “the criterion of debt payment in light of cash inflation” is one of the most prominent issues that combine the juristic challenge and the economic dimension, because of its direct impact on the stability of financial transactions, stressing the importance of preparing in -depth studies that combine economic analysis and legal vision.

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