Search
Generic filters
Filter by Categories
Accounting
Banking

Islamic Finance




Ba’i al-Fodhouli


Al-fodhouli is a person who intervenes or interferes in others’ affairs without being invited or called on (out of curiosity). In shari’a terminology, the sale of an uncommissioned agent is a type of sale undertaken by a person who is not a principal, agent or custodian in relation to the sale contract. Jurists (fuqaha) were of two opinions as to the permissibility of ba’i al-fodhouli. Some considered it null and void on the ground that it leads to defective transactions (it amounts to an act taken on behalf of another person without his explicit consent).

However, others validated it unless it is not in the best interest of the owner. In other words, if this sale is made for fear that the underlying would be lost or destroyed, then the transaction is valid and permissible.



ABC
The last three decades have witnessed the modern rebirth of Islamic finance both in terms of literature and practice. Islamic banks and ...
Watch on Youtube
Remember to read our privacy policy before submission of your comments or any suggestions. Please keep comments relevant, respectful, and as much concise as possible. By commenting you are required to follow our community guidelines.

Comments


    Leave Your Comment

    Your email address will not be published.*