حوافز الاستثمار في السندات الحكومية : منظور شرعي و قانوني

Abstract EN

Government bonds are a type of debt-based investment in which individuals and entities lend money to the government at an agreed interest rate, and governments use them to raise money that can be spent on new projects or infrastructure, and investors use them to get a defined and rewarding return paid at regular intervals, with a guarantee of redemption.

There were different opinions in Islamic jurisprudence on the issue of legal qualification as a legislative act, an act of sovereignty, or an act of a doctrinal nature, the most likely jurisprudence and jurisprudence.

Traditional economic thought rejects public loans and is accepted by modern economic thought as a financing tool for the deficit of the public budget with certain restrictions.

There were various opinions in Islamic jurisprudence on the issue of a loan with interest, and on the basis of the expansion of the theory of necessity and the rule: "Imperatives are forbidden", the right to invest in them and obtain the interest rate resulting from them, on the grounds of recourse to save money and the limits of good loan areas.

A third opinion is: Investment in government bonds may be considered a necessity, but investment is a necessity, but if the private sector does not find it necessary, then to resort to investment.

Individuals are in great hardship, and the hardship is driven by the street, and it brings convenience.

I have seen the preponderance of the first opinion on the strength of its evidence, the soundness of its reasoning, the weakness of other opinion evidence, and the fact that necessity considered legitimate must threaten one of the five colleges.

The most important recommendations of this research were the interest in production in all its forms, the stimulation of internal trade, and the reliance on real means of financing and investments linked to physical assets, not just financial derivatives that rely solely on the creation of money.

The recommendations of contemporary global economic organizations also tend to underestimate interest rates, view derivatives as an ineffective tool for maintaining stable levels of money, and rely on Islamic finance instruments as they are based on assets worth equal cash.