Tags - Usury
Four Chief Concerns of the Sources of Emulation on the Executive Defects of Non-usury Banking (Part 4)
The jurisprudential views belonging to the proponents or opponents of the late payment penalty should be viewed. In 1982, the sources of emulation objected to the late payment penalty, and it was announced illicit and removed from the state laws; in the meantime, banks faced with an abundance of late payments, as they didn't received the penalty of late payment, and as a result, a consideration [fee] substituted the late payment penalty.
News ID: 445290 Publish Date : 2019/06/09
Four Chief Concerns of the Sources of Emulation on the Executive Defects of Non-usury Banking (Part 3)
In 1983, Imam Khomeini, Ayatollah Golpaygani, Ayatollah Marashi Najafi were the sources of emulation; the legislation was given to them and verifying it, they said that the Act is according to the Islamic Jurisprudence, especially the Imamiah Jurisprudence (Shiite Jurisprudence), and six month later, it was given to the government and the central bank in order to prepare the regulations and instructions appertaining to this law, and it was implemented unanimously in 1984.
News ID: 445289 Publish Date : 2019/06/08
Four Chief Concerns of the Sources of Emulation on the Executive Defects of Non-usury Banking (Part 2)
Shahid (Martyr) Ayatollah Sadr provided a non-usury model of banking, the model requires the bank to draw up the deposit contracts based on a contract giving the bank the power to act as the attorney of the people instead of being based on borrowing/lending with interests; moreover the said contract regards the borrower who pays the interest as a depositor.
News ID: 445288 Publish Date : 2019/06/07
Four Chief Concerns of the Sources of Emulation on the Executive Defects of Non-usury Banking (Part 1)
Regarding the four principal concerns of the fictitious transactions, banking interest rate, late payment penalty and working for the banks, the he member of the Jurisprudential Council of the Central Bank said, “The interest rates in Iranian banks are generally the outcome of the state’s major economy, and the high interest rates impacts the inflation rate, and though it is a concern of the esteemed sources, the existing conditions should be considered; no bank is satisfied regards high rates of interest favorable.”
News ID: 445287 Publish Date : 2019/06/06
Ayatollah Noori Hamedani:
Grand Ayatollah Noori Hamedani, stating that usury hinders the economic movement of the society, said, “ Usury can be justified on no pretext.”
News ID: 444431 Publish Date : 2019/04/22
Ayatollah Nouri-Hamadani:
Rasa – Referring to the cynical visit of ibn Salman to Pakistan and the countries of the region, the revered source of emulation said, “Saudi Arabia is spending large sums of money spread the wicked Wahhabi ideology.”
News ID: 443566 Publish Date : 2019/02/21