بحث The Shariah Regulations for Banking Services in Islamic Banks in Palestine (Letter of Guarantee as a Model)

بحث خطاب الضمان

Abstract

This study, titled "The Shariah Regulations for Banking Services in Islamic Banks in Palestine – A Case Study on Letters of Guarantee," aimed to outline the Shariah regulations for banking services related to letters of guarantee (bank guarantees) provided by Islamic banks in Palestine and to assess the extent to which these banks comply with these regulations. The study employed an integrative methodology that combines both the inductive and analytical approaches to analyze the Shariah regulations and deduce their legal classification. It was divided into two main chapters: the first dealt with the concept of letters of guarantee and their types, while the second discussed the Shariah classification of letters of guarantee and their regulations. The study reached several key findings, most notably: covered and uncovered letters of guarantee differ in their Shariah classification between agency and guarantee, respectively; Shariah regulations prohibit taking fees for guarantees but allow them for covered agency contracts; and charging fees directly on the guarantee itself is not permissible according to the standards of the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI).