المشاركة التمويلية المتناقصة في المصارف الاسلامية “دراسة قانونية مقارنة”

Diminishing Financing Participation in Islamic Banks "A legal comparative study "

Abstract

Diminishing financial participation is one of the modern complex contracts that preceded legislation and has followed reality to express the growing cooperation between different parties and achieve interests that traditional contracts may not be able to achieve. Diminishing financial participation in Islamic banks is a financing method based on the Islamic bank providing the financing requested by its client. (The partner) in a project with an expected income, on the basis of an agreement under which the bank obtains a share of its right to keep the remaining part or any amount of it, so that that part is allocated to repay the principal of the financing provided by the bank.
The main problem with the subject of the letter is that it does not Net income is based on the existence of a special legal regulation for diminishing financing partnerships in Iraqi law (Islamic Banking Law No. 43 of 2015), which means that the Iraqi legal system is facing a legislative deficiency regarding the mechanisms for working in partnerships and what is related to them, but this is not enough, as The issue needs in-depth study from many aspects because it raises other sub-problems, including the effectiveness of the legal texts within the framework of the Iraqi legislative system and their role in covering the provisions of participation. As dealing with an important and complex topic requires its own legal regulation.
In conclusion, we reached a number of conclusions and proposals, the most important of which is the absence of a special legal regulation for diminishing financial participation in Iraqi legislation, but rather a simple reference to participation as a means of attracting funds in Article (2). Secondly, Islamic Banking Law No. (43) of 2015, and that the diminishing financing participation in Islamic banks is one of the newly established contracts, which was introduced by Islamic banks to be an alternative to the interest-bearing loan contract by combining the elements of more than one contract to form an interconnected contract system that does not accept dismantling. Partition is one of the complex contracts, and we have proposed to the legislator a definition of diminishing financing participation in Islamic banks, “which is an agreement based on the bank providing the financing requested by its client and sharing with it the expected output to be obtained from the project, provided that the bank recovers its share in the form of installments from the partner’s share with decreasing The bank’s share of the project’s profit when deducting what is due.