A Critical Approach to Debt Financing in a Muslim Society: The Case of Qatar

Abstract

A debt-based society continuously encourages people to go into debt, even through legal means, and this leads to a series of problems.. Though Shariah scholars emphasize the Islamic legacy of lending a helping hand, they overlook society's excessive dependence on debt and its consequences. This paper discusses the harms of debt in Muslim societies based on content analysis of four fatwas issued for Islamic finance institutions. First, the types of debt in Islamic Banking are explained. Then, four fatwas are analyzed regarding mortgage and credit card debt.The paper argues these fatwas also overlook global capitalism, which worsens debt burdens on disadvantaged populations. It is followed by highlighting environmental issues and consumerism. Next, the necessity of preventing excessive debt dependence in Muslim communities is discussed with the example of Qatari society. The research concludes that the examined fatwas fail to consider debt’s societal impact, including its negative effect on mental health and contribution to a consumerist culture.

Keywords

• Debt Financing
• Qatar
• Murabaha
• Muslims
• Ijara
• Mudaraba
• Musharaka

Müslüman Bir Toplumda Borç Finansmanına Eleştirel Bir Yaklaşım: Katar Örneği

Abstract

Borç temeline dayalı bir toplum, yasal yollarla bile insanları sürekli olarak borçlanmaya teşvik eder ve bu durum bir dizi soruna yol açar. İslami finans kurumlarının danışma kurulunda yer alan bazı İslam alimleri, İslam'ın yardımlaşma geleneğine ve borç verme mirasına dikkat çekerken, toplumun aşırı derecede borç bağımlılığına ve bu bağımlılığın toplum üzerindeki sonuçlarına karşı çıkma gerekliliğini göz ardı etmişlerdir. Bu makale, İslami finans kurumları için yayınlanan dört fetvanın içerik analizi temelinde, Müslüman toplumlardaki borcun zararlarını ele almaktadır. İlk olarak, İslami bankacılık sistemindeki borç türleri açıklanmaktadır. İkinci olarak, ipotek ve kredi kartı borcu sorunlarına ilişkin dört fetva analiz edilmektedir. Makale, incelenen fetvaların dezavantajlı nüfuslar üzerindeki borç yükünü daha da ağırlaştıran küresel kapitalist sistemi de göz ardı ettiğini savunmaktadır.Üçüncü olarak, borç kültürünün toplum ve çevre üzerindeki etkisi ele alınmaktadır. Ardından, Müslüman topluluklardaki aşırı borç bağımlılığına karşı önleme sorunları ve gerekliliği, Katar toplumu örneğiyle analiz edilmektedir. Araştırmada, incelenen fetvaların, ruh sağlığı üzerindeki olumsuz etkisi ve tüketim kültürüne katkısı da dahil olmak üzere borcun toplumsal etkisini yeterince dikkate almadığı sonucuna varılmaktadır.

Keywords

• Borç Finansmanı
• Katar
• İcara
• Mudarabe
• Müşareke
• Murabaha
• Murabaha

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