The Binding Unilateral Promise ( wa'd) in Islamic Banking Operations: Is it Permissible for a Unilateral Promise ( wa'd) to be Binding as an Alternative to a Proscribed Contract? الوعد الملزم في معاملات المصارف الإسلامية هل يجوز أن يكون الوعد ملزماً إذا كان بديلا لعقد محرم

Rafic Yunus Al-Masri ()
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Rafic Yunus Al-Masri: Assistant Professor Islamic Economics Research Centre Faculty of Economics King Abdulaziz University Jeddah – Saudi Arabia

Journal of King Abdulaziz University: Islamic Economics, 2003, vol. 15, issue 1, 29-33

Abstract: Past jurists have three distinct positions on the unilateral promise (wa’d): 1. For the majority of jurists, fulfilling it is recommendable. 2. For Ibn Shubrimah and others, fulfilling it is obligatory except where otherwise justified. 3. For the Maliki school, fulfilling it is obligatory, if the case entails difficulties for the unilateral promisee, i.e., in case he incurs a cost. For instance, if the promisor says to the unilateral promisee: Get married, I unilaterally promise (wa’d) you 10 thousand Riyals and the latter does marry, then, the promisor is duty-bound to fulfill his unilateral promise (wa’d). --

Date: 2003
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Persistent link: https://EconPapers.repec.org/RePEc:abd:kauiea:v:15:y:2003:i:1:no:2:p:29-33

DOI: 10.4197/islec.15-1.2

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