A comparative study of the legitimacy of employment in a bank from the perspective of Islamic law and jurisprudence

Abstract

Islamic banking, due to its nature, requires a specific type of supervisory methods in order to comply with the banking system's activities with the principles and laws of Sharia. This study attempts to justify the necessity of Sharia supervision in the banking system with jurisprudential principles such as the rule of negation of gharar, prohibition of usury, non-harm, protection of public interests, and lack of infallibility of rulers, and to emphasize and examine the necessity of Sharia supervision in this regard through various legal documents such as Articles 2, 4, and 71 of the Constitution, as well as the existential philosophy of approving the Law on Banking Operations Without Usury and other related regulations. International Islamic financial institutions have presented solutions for the implementation of the aforementioned institution in the banking system of Islamic countries, which have been implemented in most countries with an Islamic banking structure. In Iran, too, over the past few years, we have witnessed the relative consolidation of a supervisory, executive, and legislative position for the Sharia supervisor; however, the country's banking system is still at the beginning of the path to implementation and the results of Sharia supervision. Removing obstacles and providing solutions for implementing Sharia supervision requires examining the jurisprudential foundations, explaining the solutions, and training in its implementation, which is also the purpose of this research. The above issue has been discussed and examined in this research, relying on the descriptive-analytical method from a jurisprudential and legal perspective