Currency devaluation policy AND Its Shari‘Ah rulings

Abstract EN

The policy of devaluing currency exchange rate to reduce the deficit in the general budget of countries is one of the topics that have been fortunate in contemporary studies in the economic aspect, as it reflects the economic situation and status of any country internally and externally.

it represents the most important elements in directing the foreign transactions of countries.

the stability of the exchange rate also reflects the extent of the soundness of the economic foundations, the financial and monetary policies followed.

the currency devaluation policy is still the focus of discussion and debate among economists, but the legitimate evaluation of these policies from the perspective of sharê'ah has been researched previously but still the need of more research on that is a necessary for now in the contemporary issues occurred, which prompted me to shed light on that problem that revolves around the statement of policy reducing the exchange rate from the point of view of shariah.

this research is based on the technical study of the currency devaluation policy, and then its evaluation from a shari'ah point of view.

the research began by defining the international monetary system, clarifying the balance of payments and exchange rate, and stating the currency devaluation policy, then this research concluded with a set of results and a legitimate root for them from the perspective of sharê'ah.