علت رِبوا میں فقہائے کرام کا اختلاف اورکرنسی نوٹ پراس کا اثرایک فقہی اورتنقیدی جائزہ

Abstract

There has been a difference of opinion among the jurists regarding the Sharī‘ah ruling of the currency notes. The reason that led to this difference was the lack of elaborations in classical fiqh, as at that time the only prevailing currencies were gold and silver. Metal coins namely fulūs were also available but their usage was limited to only those transactions that involved low-priced goods. The status of currency notes remained controversial in the past until eventually the contemporary scholars accepted currency notes as gold and silver while applying the Sharī‘ah rulings of Ribā and Bay‘ Ṣarf on them. Contrarily, numerous scholars from the Indo-Pak subcontinent have rejected the idea of applying the rulings of Ribā and Bay‘Sarf on Currency-Notes on the basis of the Hanafi school’s elaborated effective cause of Ribā (‘Illat al-Ribā). The reason for this difference of opinion is the variety of viewpoints available among scholars regarding the effective cause of Ribā. In the current literature, the majority of the research is carried out regarding the juristic nature and other aspects of this issue. However, this paper discusses the actual cause of the contradiction in the effective cause of Ribā and its impact on the currency note.