Document Details

Document Type : Article In Journal 
Document Title :
Deficit Financing: Its Legality and Alternatives From Islamic Viewpoint
التمويل بالعجز : شرعيته ، وبدائله ، من منظرو إسلامي
 
Subject : Discussion Paper 
Document Language : Arabic 
Abstract : Deficit financing ( or inflationary financing ) is a means to finance the deficit in the government budget which is adopted to achieve important economic goals. It is a new provision for which we do not find any special evidence in the Quran, Sunnah or consensus. Nor a precedence is found in such a matter to stick to it or to apply analogy to it. In the light f this, we may treat 'deficit financing' as a matter needed by the nation and that it is to be compatible with shaiah policy, it must be in accordance to the spirit of shariah and its overall objectives to achieve its social goals, even if no specific text is found in the Quran and Sunnah. The paper argues that the deficit financing is not compatible with shariah policy basedon : 1- A comparison between its cost and benefits, especially due to its violation of justice in distribution of income and wealth and so its oppsotion to the shariah spirit and its evidences. 2- The Islamic Economics offers legal alternatives which can achieve the objectives of deficit financing more efficiently without violating justice.  
ISSN : 1018-7383 
Journal Name : Islamic Economics Journal 
Volume : 15 
Issue Number : 1 
Publishing Year : 1423 AH
2003 AD 
Number Of Pages : 44 
Article Type : Article 
Added Date : Sunday, October 11, 2009 

Researchers

Researcher Name (Arabic)Researcher Name (English)Researcher TypeDr GradeEmail
نجاح عبدالعليم أبوالفتوحNAJAH ABDULALM ABULFUTUHResearcher  

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