المستخلص: |
This paper addresses: 1. The definition of fiat money. 2. Asserting the value of fiat money and not confining its worth to only two currencies. This aligns with the principles of Islamic law which prioritizes the consideration of people’s interest. 3. The definitions of in-kind and value-based property. 4. In certain instances, fungible property can become value-based and vice versa. 5. A scholarly debate exists on whether Zakat al-Fitr should be paid in cash or in kind. 6. The issue of paying Zakat al-Fitr in either species is a subject of debate, where it is permissible to follow any of the juristic opinions. 7. It is permissible to lend anything that is fungible, while the ruling of that which is value-based is subject to debate. 8. The opinion that lending value-based property is permissible is considered more preferable. 9. There is some disagreement among jurists regarding the amount that a creditor is required to repay at the loan's maturity date, given that the value of money fluctuates. 10. If no condition exists to this effect, it is permissible for the debtor to repay the creditor with an amount greater than the amount borrowed. 11. The seized property must be restored by its equivalent if it is fungible. 12. If the seized property is non-fungible, it must be restored by either its equivalent or its value, as per varying scholarly opinions. 13. Whoever damages another’s property must replace it by its equivalent if it is fungible or by its value if it is non-fungible.
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