Contemporary Financial Applications of Fabrication in the Decisions of the Islamic Fiqh Academy.

Abstract

Objectives: The study aimed to clarify the nature of fabrication and its components, the difference between fabrication in ijtihad and fabrication in imitation, the description of fabrication that the Fiqh Council may fall into, and clarifying the aspect of fabrication in the issue of supply and letters of guarantee as stated by the Fiqh Council.

Methods: The researchers followed the inductive approach; by following what the books of jurisprudence and its principles included about fabrication and its types and the issue of creating a new statement, and the descriptive approach; by clarifying the basic concepts related to the subject of the study, and what contemporary scholars and researchers have decided, and the analytical approach: by highlighting the components of fabrication and analyzing its characteristics, and clarifying the aspect of fabrication or not in the issue of supply and letters of guarantee.

Results: The study reached several results, the most prominent of which are: The Fiqh Council plays the role of fabrication through ijtihad, and despite this, it lacks a unified vision based on establishing fixed principles to follow. This has created a deficiency in understanding facts as they occur and made the role of the Council in some issues to search for images from books of jurisprudence that approximate the images of reality but without hitting them, but may differ from them in essential points that make what the school of thought has issued a fatwa not only a matter of fabrication but also a matter of creating a new statement.

 Conclusion: Recommendation for further research into contemporary issues and the basis on which a fatwa is issued or a legal ruling is issued, with a call to pay attention and strive to apply at least a correct image of fabrication or creating a new statement according to disciplined principles and evidence that are adopted in each Council according to what ijtihad reaches without moving randomly and without controlling contemporary images when issuing a fatwa.