الأحكام الفقهية المتعلقة بالرافعة المالية : دراسة فقهية مقارنة

الملخص EN

Leverage is one of the most important financing instruments of the current era; To increase the purchasing power of the financial value of investment offered to traders by brokerage firms, traders can make more deals than they can with their own money, a tool that can inflate profits and inflate losses.

The study aimed at defining leverage and the provisions related to the use of leverage, based on the opinions of scholars through their jurisprudence, analyzing the evidence of each opinion, up to the opinion chosen.

In this study, I followed the inductive method when introducing the financial leverage, the markets it uses and its size, as well as the descriptive method when explaining the mechanism and the image of the lever, based on the description of the case.

I also followed the deductive and comparative method when adapting questions to sharia, and identifying the opinions of scholars on each issue and their evidence, and then arriving at the chosen opinion, and the reasons for choosing it.

The study concluded by prohibiting the granting of leverage on the condition of borrowing an agreement.

It may be granted on the condition that the place of the transaction is mortgaged according to the selected opinion.

In addition, the operator may not pay commissions on financing and commissions on settlement of transactions, and may pay commissions on the services provided by the brokerage company.

It was recommended that leverage should not be used at high rates, that more action be taken to manage the risks involved, develop investment skills in financial markets and develop sophisticated policies to protect the privacy of traders.