Abstract
The investment product, with the right to contract with one’s self, is considered one of many products that spread amongst the Islamic financial institutions. In the past, this subject was a matter of controversy between scholars. Nevertheless contemporary jurists do not contest the legality of the product. The study addresses this issue with in-depth research and details in terms of legitimacy and with what was observed by the Kuwaiti Law. The study consists of the following sections:
Section I: the rule of contracting with self from the sharia perspective.
Section II: the rule of contracting with self from the legal perspective.
.Section III: the product of "the investment agency with the right of self-contracting": regulations and controls.
In conclusion, I found that this product must follow certain controls and restrictions in order to avoid interest (i.e. usury), mentioned in the study’s findings, in order to be acceptable for Islamic Financial Institutions.
Recommended Citation
Al-Rashed, Ali Ibrahim
(2016)
"Contracting with Self under the Agency's Investment Product: A comparative and Applied Study based on the Kuwaiti law,"
UAEU Law Journal: Vol. 2016:
No.
66, Article 9.
Available at:
https://scholarworks.uaeu.ac.ae/sharia_and_law/vol2016/iss66/9