عقد الجعالة و تطبيقاته المصرفية

Abstract EN

The purpose of this paper is to define Jo'ala contract and its banking applications in goods, and services financing.

This paper contains definition, Sharia rules, and examples of Jo'ala contact in Islamic Fiqeh, and practical application of Jo'ala contact as a Sharia compliant banking product.

The paper discussed the banking application of "Jo’ala " contract which is a combined contract of” kafala”, "Jo’ala " and the merchant cash selling contracts backed by the bank guarantee of the customer without any charged on the customer because it's a religious act.

The bank collects a commission from the merchant for promoting goods; on a condition that the merchant commits not to increase the cash price.

This paper discusses different applications of Jo'ala such as brokerage, promoting, land reform, prizes, and discount coupons, and illustrates Islamic International Arab Bank experience in Jo'ala contract for financing of education, medical treatment, Udhia, goods, and services.

This paper concludes such of the important findings, for example: banks are able to develop Jo'ala based product for financing of services such as doubtful debt recovery, selling of education, medical treatment, religious and entertainment tourism, and promoting of commercial establishments' goods and services