{"id":1444,"date":"2017-03-01T13:06:54","date_gmt":"2017-03-01T12:06:54","guid":{"rendered":"https:\/\/france-ohada-droit.com\/?p=1444"},"modified":"2019-05-01T20:28:22","modified_gmt":"2019-05-01T18:28:22","slug":"selling-short-as-ijara-with-istihsan-and-its-ethical-implications","status":"publish","type":"post","link":"https:\/\/france-ohada-droit.com\/index.php\/2017\/03\/01\/selling-short-as-ijara-with-istihsan-and-its-ethical-implications\/","title":{"rendered":"Imtiaz Mohammed Sifat &amp; Ashar Mahamad, Selling Short as Ijar\u0101 with Istihs\u0101n and its Ethical Implications, Arab Law Quarterly 2016, 30(4), 357- 377"},"content":{"rendered":"<h1 style=\"text-align: center;\"><span style=\"color: #0000ff;\">Imtiaz Mohammed Sifat &amp; Ashar Mahamad,\u00a0<strong><em>Selling Short as Ijar\u0101 with Istihs\u0101n and its Ethical Implications<\/em><\/strong> <\/span><\/h1>\n<h2 style=\"text-align: center;\"><span style=\"color: #0000ff;\">Arab Law Quarterly 2016, 30(4), 357-377<\/span><\/h2>\n<p style=\"text-align: justify;\">NDLR &#8211; L\u2019article examine les nouvelles (depuis 2006) possibilit\u00e9s l\u00e9gales des ventes \u00e0 d\u00e9couvert (<em>short selling<\/em>) du point de vue de la r\u00e9glementation islamique malaisienne. Cet angle est int\u00e9ressant dans la mesure o\u00f9 la Malaisie poss\u00e8de le corpus de r\u00e8gles le plus \u00e9labor\u00e9 en mati\u00e8re de finance islamique et que ce corpus est souvent accept\u00e9 par les \u00e9tablissements financiers du Moyen-Orient pour la conformit\u00e9 de leurs op\u00e9rations \u00e0 la\u00a0<em>Sharia<\/em>, nonobstant les diff\u00e9rences de rite.<\/p>\n<p style=\"text-align: justify;\">Les auteurs montrent la complexit\u00e9 des enjeux \u00e9thiques\u00a0: d\u2019une part, la doctrine financi\u00e8re islamique traditionnelle prohibe les actes et instruments financiers purement sp\u00e9culatifs, comme la vente sans propri\u00e9t\u00e9. Mais, d\u2019autre part, le droit financier islamique encourage l\u2019utilit\u00e9 sociale pour toutes les transactions. Or, le consensus est que la technique de vente \u00e0 d\u00e9couvert poss\u00e8de plusieurs vertus\u00a0: elle augmente la quantit\u00e9 de liquidit\u00e9s en circulation\u00a0; elle am\u00e9liore la transparence et l\u2019information sur les prix et sur les caract\u00e9ristiques. C\u2019est en se fondant sur ces qualit\u00e9s que, passant outre les controverses entre\u00a0<em>ul\u00e9mas<\/em>\u00a0sur la question, le Comit\u00e9 consultatif de la finance islamique aupr\u00e8s de l\u2019autorit\u00e9 boursi\u00e8re malaisienne a autoris\u00e9 les ventes de titres \u00e0 d\u00e9couvert dans le cadre de l\u2019<strong><em>Ijar\u0101 et de l\u2019Istihs\u0101n.\u00a0<\/em><\/strong>Au regard des enjeux pratiques, il est certain que l\u2019avis du comit\u00e9 consultatif de l\u2019autorit\u00e9 boursi\u00e8re malaisienne renforcera la tendance au forum shopping en mati\u00e8re de finance islamique. Sur le sujet\u00a0; on consultera Umar A. Oseni &amp; Abu Umar Faruq Ahmad &amp; M. Kabir Hassan,\u00a0<strong><em>The Legal Implication of \u201cFatwa Shopping\u201d in the Islamic Finance Industry: Problems, Perception and Prospects<\/em><\/strong>, Arab Law Quarterly 2016, 30(2), pp 107-137.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Imtiaz Mohammed Sifat &amp; Ashar Mahamad,\u00a0Selling Short as Ijar\u0101 with Istihs\u0101n and its Ethical Implications Arab Law Quarterly 2016, 30(4), 357-377 NDLR &#8211; L\u2019article examine les nouvelles (depuis 2006) possibilit\u00e9s l\u00e9gales des ventes \u00e0 d\u00e9couvert (short selling) du point de vue de la r\u00e9glementation islamique malaisienne. Cet angle est int\u00e9ressant dans la mesure o\u00f9 la Malaisie poss\u00e8de le corpus de r\u00e8gles le plus \u00e9labor\u00e9 en mati\u00e8re de finance islamique et que ce<span class=\"excerpt-hellip\"> [\u2026]<\/span><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[15],"tags":[31,28,30,34,27,33,29,32],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v18.4.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Imtiaz Mohammed Sifat &amp; Ashar Mahamad, Selling Short as Ijar\u0101 with Istihs\u0101n and its Ethical Implications, Arab Law Quarterly 2016, 30(4), 357- 377 - France Ohada Droit<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/france-ohada-droit.com\/index.php\/2017\/03\/01\/selling-short-as-ijara-with-istihsan-and-its-ethical-implications\/\" \/>\n<meta property=\"og:locale\" content=\"fr_FR\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Imtiaz Mohammed Sifat &amp; Ashar Mahamad, Selling Short as Ijar\u0101 with Istihs\u0101n and its Ethical Implications, Arab Law Quarterly 2016, 30(4), 357- 377 - France Ohada Droit\" \/>\n<meta property=\"og:description\" content=\"Imtiaz Mohammed Sifat &amp; Ashar Mahamad,\u00a0Selling Short as Ijar\u0101 with Istihs\u0101n and its Ethical Implications Arab Law Quarterly 2016, 30(4), 357-377 NDLR &#8211; L\u2019article examine les nouvelles (depuis 2006) possibilit\u00e9s l\u00e9gales des ventes \u00e0 d\u00e9couvert (short selling) du point de vue de la r\u00e9glementation islamique malaisienne. 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