Islamic checks... their development and their role in financing operations

Abstract

Abstract: It evolved and diversified financial derivatives in the stock markets in the world and relies mostly on usurious transactions that make the interest rate basis for driven prompting Islamic societies that are moving to be found corresponds to those derivatives and frameworks legitimacy within the confines of Islamic law have been introduced Islamic bonds early in the last decade of the twentieth century after fatwas legitimacy and become those instruments financing instrument issued in accordance with the teachings of the Islamic religion does not deal with riba or forbidden religiously projects was the issuance of Islamic instruments that have grown tremendously and jumped amounts issued large multiples, prompting countries that are looking for funding to speed up taking the position of issuing instruments, whether they These Islamic countries or other countries of advanced non-Muslim, which provided them with a source of capital contributed in particular to finance its infrastructure projects as an alternative to borrowing in the case of a deficit in public budget