Jurisprudential and legal study of the conformity between bank deposits and Islamic contracts

Ali Basiri ¹ ( Ph.D. Candidate, Department of Law, Babol Branch, Islamic Azad University, Babol, Iran and Faculty member of Department of Law, Nowshahr Branch, Islamic Azad University, Nowshahr, Iran )
Akbar Fallah ² ( Assistant Professor, Department of Islamic Law and Jurisprudence, Babol Branch, Islamic Azad University, Babol, Iran )
Mohammadali Kheyrollahi ³ ( Assistant Professor, Department of Law, Babol Branch, Islamic Azad University, Babol, Iran )

Submited date : 2021-02-11 Accepted date : 2024-05-15

Keywords: Deposit, Depositor, Banking, Deposit, Bank.,

Abstract :

The bank started its activities in Iran based on the experiences of Western countries and their banking system. The law on interest-free banking operations was approved in 1983 and came into force on 1984. In passing this law, the legislator has tried to bring the banks' operations in line with Islamic standards. But by examining the relationship that arises between depositors and banks on the one hand and between banks and investors on the other, it becomes clear that the legislature is more interested in justifying the practice of banks than in enforcing monetary and banking policies in accordance with Islamic law. In this research, studying the law of interest-free banking operations, directives and executive instructions of banks, the legislator's efforts in drafting the law are examined and examined with the help of strong jurisprudence and the study of jurisprudential and legal books. Due to the incompatibility of the titles of bank deposits with Islamic contracts and the existence of such a huge institution that almost all people need to operate, according to the findings of this study or must be the will of the depositor and the bank based on the verse and the prophetic hadith and Number 10 of the Civil Code respected and considered such contracts to be effective, or that the legislator should consider himself obliged to lay down the instructions and regulations of the bank according to Islamic standards, because it is not unlikely that Islamic banking will be established according to Islamic law.