Document Type : Science - Research (Islamic Banking)

Authors

• sadigh elham
• seyyed mohammad mahdi tadayyoneslami

imam sadigh university

Abstract

The institution of banks and interest-free banking are among the issues that have been the focus of jurists and their various dimensions have been analyzed and studied. One of the important points in a bank is its ownership of its assets. Some jurists, by criticizing the evidence of ownership of legal entities, have ruled that ownership of state-owned banks is impossible and as a result, they have considered the assets held by them to be of unknown ownership. Others, by accepting the ownership of legal entities, have analyzed the transaction with the bank as invalid due to the lack of a Sharia trustee and the assets obtained as of unknown ownership. In this research, which has been compiled using a library method, an attempt is made to criticize the theory of the unknown ownership of bank deposits by briefly stating the process of money creation in the banking system and analyzing the three theories of bank financial intermediation, the multiplier, and the creation of money from nothing, and to state that even assuming the non-acceptance of ownership of legal entities and the lack of Sharia of the bank trustee, considering the creation of money within the bank, it is not possible to state anything about the unknown ownership of bank assets. The innovation of this research is that what has been stated in this field so far has been based on the view of financial intermediation in the banking system. It seems that the issue will be fundamentally different based on the system of intra-bank money creation.

Keywords

• Bank deposit
• money creation
• unknown owner
• increasing coefficient

Main Subjects

• Science - Research (Islamic Banking)