The Fiqh Principles of Monetary and Capital Markets and Its Applications

Considering Money and capital markets among the most changeable economic sectors of every country and due to the different kinds of new contracts and monetary and fiscal means, it is necessary to refer to Islamic sources to find the Islamic view of them. Using a descriptive-analytical approach based on the Quran and traditions this paper investigates how Islamic fiqh' deals with the new business contracts. The research concludes that although the primary and practical principles of transaction in Islamic fiqh is the corruption of contract and new way of handling a transaction; the condition of verbal and fiqh principle and the condition of the indications of the Quran and traditions, are the soundness and necessity of all contracts and methods as well as the customary, financial and rational instruments, provided that they do not contradict with the general terms of such contracts (such as prohibition of gathering money in an illegal way, prohibition of defraud, harm and harassment, prohibition of gambling, prohibition of usury).