Shafa’i Jurisprudence on monetary economics

April 30, 2015
Shafa’i Jurisprudence on monetary economics
Dr. Bishr Muhammad Muwaffeq Lutfi



The research addresses the prominent issues of currency as per the Shaf’ai jurisprudence; such as the factor of interest (Riba), the rulings of currency exchange and its conditions, the capital of Salam contract, Musharakah and Mudarabah (partnerships) and the rulings of counterfeit money. Furthermore, the researcher deals with subject matter related rulings such as cancellation of currency by the government and its impact on the rights as per the rulings of paper currency, based on the principles of Shaf’ai jurisprudence. Finally the research gives description of the features of currency concept through its functions mentioned by the Shaf’ai jurists, and other issues related such as commoditization of currency and neutrality of currency.

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