١٥ ﳒﺎح ﻋﺒﺪ اﻟﻌﻠﻴﻢ أﺑﻮ اﻟﻔﺘﻮح – اﳌﺴﺘﺨﻠﺺ اﳌﺒﺤﺚ اﻷول اﳌﺸﻜﻠﺔ اﻟﺒﺤﺜﻴﺔ-١ وأﳘﻴﺘﻪ، ﺣﺪوده: ﻣﻮﺿﻮع اﻟﺒﺤﺚ-١ اﻷول واﻟﺜﺎﱏ ١ﺗﺎج –– ﺧﻄﺔ اﻟﺒﺤﺚ٢-١ ﻓﺮوض اﻟﺒﺤﺚ٣-١ اﻟﺒﻌﻠﻲ ? ? ? ? ? ? اﳌﺎوردي – – ٢ﻟﻠﻘﺮﺿﺎوي اﳌﺒﺤﺚ اﻟﺜﺎﱐ اﻷﺳﺎس اﻟﻨﻈﺮي ﻟﻠﺘﻤﻮﻳﻞ ﺑﺎﻟﻌﺠﺰ- ٢ ﻣﻔﻬﻮم اﻟﺘﻤﻮﻳﻞ ﺑﺎﻟﻌﺠﺰ١-٢ ? ? ? –– –– 12Siddiqi (1992), p.72. اﻷﺳﺎس اﻟﻨﻈﺮي ﻟﻠﺘﻤﻮﻳﻞ ﺑﺎﻟﻌﺠﺰ٢-٢ Keynes ﻣﻨﺎﻓﻊ وﻣﻀﺎر اﻟﺘﻤﻮﻳﻞ ﺑﺎﻟﻌﺠﺰ٣-٢ 14Patinkin, 1965, pp. 371-372. 15Thirlwall, 1974, pp. 233-235. 16Musgrave, 1984, pp. 789-790. 17Burkhead, 1956, p. 465. –– 18Thirlwall, op. cit,. p. 236 19Burkhead, op. cit., pp. 465-473. – … – أﲪﺪ ﻋﺒﺪ اﻟﺮﺣﻴﻢ اﳌﺒﺤﺚ اﻟﺜﺎﻟﺚ ﺑﺪاﺋﻞ اﻟﺘﻤﻮﻳﻞ ﺑﺎﻟﻌﺠﺰ ﰲ اﻟﻨﻈﺎم اﻹﺳﻼﻣﻲ- ٣ ﻗﺒﻞ أن ﺗﺜﻮر اﳌﺸﻜﻠﺔ-١-٣ 21Thirlwall, op. cit., 243. اﻟﺴﻴﻮﻃﻲ اﳋﺎﻣﺲ واﻟﺴـﺎدسﳏﻤﺪ ﻋﺒﺪ اﳊﻠﻴﻢ ﻋﻤﺮ اﻟﺸـﺎﻓﻌﻲاﳌﺎوردياﻟﻘﺮﺿﺎوي … اﳌﺎوردى أﲪﺪ ﻋﺒﺪ اﻟﻌﺰﻳﺰ اﻟﻨﺠﺎر.د أﲪﺪ ﻋﺒﺪ اﻟﻌﺰﻳﺰ اﻟﻨﺠﺎر ﻧﻈﺮة أﺧﺮى: اﳌﻮارد اﻷﺻﻠﻴﺔ٢-٣ اﻟﺰﻛﺎة١-٢-٣ ،ﻳﻮﺳﻒ اﻟﻘﺮﺿﺎوي ١اﻟﻘﺮﺿﺎوي ١ ،اﺑﻦ ﺳﻼم ١راﺟﻊ اﺑﻦ رﺷﺪ اﳊﻔﻴﺪ ٢اﻟﻘﺮﺿﺎوي 31Ahmad, 1980, p. 123. 32Ariff, 1982, p. 135 ،اﺑﻦ ﺳﻼم ﺎ وﻣﻦ اﳌﻠﻜﻴﺎت اﻟﻌﺎﻣﺔ إﻳﺮادات اﻟﺪوﻟﺔ ﻣﻦ ﳑﺘﻠﻜﺎ٢-٢-٣ Ariff, op. Cit., p. 342. ٢اﻟﻘﺮﺿﺎوي – – اﳌﻮارد اﻹﺿﺎﻓﻴﺔ٣-٣ اﻟﺘﻮﻇﻴﻔﺎت ﻋﻠﻰ اﻷﻣﻮال١-٣-٣ اﳌﺎوردي اﳌﺮﻛﺰ اﻟﻌﺎﳌﻲ ﻷﲝﺎث اﻻﻗﺘﺼﺎد اﻹﺳﻼﻣﻲ … ? ? ? ? ٢اﻟﻘﺮﺿﺎوي اﻟﻘﺮﻃﱮ ١ﺗﺎج إﺑﺮاﻫﻴﻢ ﳏﻤﺪ،ﻗﻄﺐ – اﻟﻠﺤﻴﺎﱐ – اﻟﻘﺮﺿﺎوي اﳌﺸﺎرﻛﺎت واﳌﻘﺎرﺿﺎت واﳌﺮاﲝﺎت٢-٣-٣ ﺳﺎﻣﻲ ﲪﻮد اﻟﺴﺎﻋﺎﰐ اﻻﺣﺘﻴﺎﻃﻲ٣-٣-٣ اﳌﻮارد اﻻﺳﺘﺜﻨﺎﺋﻴﺔ٤-٣ اﻟﺪﻳﻦ اﻟﻌﺎم١-٤-٣ – – اﻟﻠﺤﻴﺎﱐ – رﻳﺎن ﺻﻴﻎ ﺑﺪﻳﻠﺔ ﻟﻼﻗﺘﺮاض١-١-٤-٣ ? ? ? ? ? اﻻﻗﺘﺮاض اﻹﺟﺒﺎري٣-١-٤-٣ اﻟﺘﻤﻮﻳﻞ اﳋﺎرﺟﻲ٢-٤-٣ – اﻟﺰرﻗﺎء رﻳﺎن اﳌﺒﺤﺚ اﻟﺮاﺑﻊ ﻣﺸﺮوﻋﻴﺔ اﻟﺘﻤﻮﻳﻞ ﺑﺎﻟﻌﺠﺰ ﻣﻦ ﻣﻨﻈﻮر إﺳﻼﻣﻲ-٤ ﺷﺮﻋﻴﺔ ﻣﺼﺎدر اﻟﺘﻤﻮﻳﻞ ﺑﺎﻟﻌﺠﺰ١-٤ اﻹﺻﺪار اﻟﻨﻘﺪي١-١-٤ ﺷﺮﻋﻴﺔ وﻇﺎﺋﻒ اﻟﻨﻘﻮد ﰲ اﻟﻨﻈﺎم اﻹﺳﻼﻣﻲ٢-١-١-٤ ﺎ ﻣﺸﺮوﻋﻴﺔ اﻟﻨﻘﻮد اﻟﻮرﻗﻴﺔ إﺳﻼﻣﻴ٣-١-١-٤ ﻋﺒﺪ اﻟﺮﺳﻮل ٢اﻟﻘﺮﻃﱯ إﳚﺎد اﻻﺋﺘﻤﺎن٢-١-٤ ﻣﻘﺪرة اﳌﺆﺳﺴﺎت اﳌﺎﻟﻴﺔ اﳌﺨﺘﺼﺔ ﻋﻠﻰ إﳚﺎد اﻻﺋﺘﻤﺎن١-٢-١-٤ ٥ﻠـﺪا اﻟﺘﻜﻴﻴﻒ اﻟﺸﺮﻋﻲ ﻟﻠﻨﻘﻮد اﻻﺋﺘﻤﺎﻧﻴﺔ٢-٢-١-٤ – اﻟﻨﺠﺎر اﳍﻤﺸﺮي ﻋﺒﺪ اﻟﺮﺳﻮل اﻟﺘﻜﻴﻴﻒ اﻟﺸﺮﻋﻲ ﻹﳚﺎد اﻻﺋﺘﻤﺎن٣-٢-١-٤ اﳊﺎﺟﺔ إﱃ اﻟﺘﻤﻮﻳﻞ ﺑﺎﻟﻌﺠﺰ٢-٤ اﻟﺘﻤﻮﻳﻞ ﺑﺎﻟﻌﺠﺰ وﻗﺼﻮر اﻟﻄﻠﺐ اﻟﻜﻠﻲ اﻟﻔﻌﺎل ﰲ اﻟﻨﻈﺎم اﻹﺳﻼﻣﻲ١-٢-٤ أوﻻﹰ ٢٨ اﻟﻌﺪد ﺎﺛﺎﻧﻴ اﻟﻄﱪاﱏ ٥ـﻰ اﻟﺸـﻮﻛﺎﱐ ﳏﻤﺪ ﺑﻦ ﻋﻠـ ﻣﺮﻛﺰ ﺻﺎﱀ ﻛﺎﻣﻞ ﻟﻼﻗﺘﺼﺎد اﻹﺳﻼﻣﻲ ﳏﻤﺪ ﻧﺎﺻﺮ اﻟﺪﻳﻦ اﻷﻟﺒﺎﱐاﻟﺒﺨﺎري – اﻟﺒﺨﺎري ﳏﻤﺪ ﻧﺎﺻﺮ اﻟﺪﻳﻦ اﻷﻟﺒﺎﱐ اﻷول واﻟﺜﺎﱐ اﻟﺘﻤﻮﻳﻞ ﺑﺎﻟﻌﺠﺰ ﻛﻮﺳﻴﻠﺔ ﻟﺘﺤﻘﻴﻖ اﻻدﺧﺎر اﻹﺟﺒﺎري٢-٢-٤ اﳊﺎﻟﺔ اﻷوﱃ اﳊﺎﻟﺔ اﻟﺜﺎﻧﻴﺔ واﳊﺎﻟﺔ اﻟﺜﺎﻟﺜﺔ واﻷﺧﲑة ﺣﺎﻻت أﺧﺮى٣-٢-٤ ﺣﺎﻟﺔ ﺣﺪوث ﺣﺮب١-٣-٢-٤ ﺣﺎﻟﺔ ﺣﺪوث ﳎﺎﻋﺔ٢-٣-٢-٤ اﻟﺘﻤﻮﻳﻞ ﺑﺎﻟﻌﺠﺰ ﻛﺒﺪﻳﻞ ﻟﻠﺘﻤﻮﻳﻞ اﳋﺎرﺟﻲ٣-٣-٢-٤ اﻟﺸﺎﻃﱯ ﻧﺘﺎﺋﺞ اﻟﺒﺤﺚ٣-٤ أوﻻﹰ ﺎﺛﺎﻧﻴ ﺛﺎﻟﺜـًﺎ راﺑﻌـًﺎ 70Musgrave, 1984, p. 782 ﺧﺎﻣﺴـًﺎ ﺣﻴﺜﻴﺎت ﺗﺘﻌﻠﻖ ﺑﺎﻟﺘﻤﻮﻳﻞ ﺑﺎﻟﻌﺠﺰ ﻋﻠﻰ وﺟﻪ اﻟﻌﻤﻮم-١ ﺣﻴﺜﻴﺎت ﺗﺘﻌﻠﻖ ﺑﺎﻟﻨﻈﺎم اﻹﺳﻼﻣﻲ-٢ ﺳﺎدﺳـًﺎ اﳌﺮاﺟﻊ اﳌﺮاﺟﻊ اﻟﻌﺮﺑﻴﺔ: أوﻻﹰ ،اﺑﻦ رﺷﺪ أﺑﻮ ﻋﺒﻴﺪ اﻟﻘﺎﺳﻢ،اﺑﻦ ﺳﻼم ، ﳒﺎح ﻋﺒﺪاﻟﻌﻈﻴﻢ،أﺑﻮ اﻟﻔﺘﻮح ، ﳒﺎح ﻋﺒﺪاﻟﻌﻈﻴﻢ،أﺑﻮ اﻟﻔﺘﻮح أﲪﺪ ﻋﺒﺪ اﻟﺮﺣﻴــﻢ،أﲪﺪ ١ جاﻟﺸﺎﻃﱮ ، ﳏﻤﺪ ﻧﺎﺻﺮاﻟﺪﻳﻦ،اﻷﻟﺒﺎﱐ ﻋﺒﺪ اﳊﻤﻴﺪ،اﻟﺒﻌﻠﻲ ﻋﺒﺪ اﻟﺮﲪﻦ،ﺗﺎج ﺳﺎﻣﻲ ﺣﺴﻦ،ﲪﻮد ﺣﺴﲔ راﺗﺐ ﻳﻮﺳﻒ،رﻳﺎن ﳏﻤﺪ أﻧﺲ ﻣﺼﻄﻔﻰ،اﻟﺰرﻗﺎ ﻋﺒﺪ اﻟﺮﺣﻴﻢ ﻋﺒﺪ اﳊﻤﻴﺪ،اﻟﺴﺎﻋﺎﰐ ٨ ﻠﺪا ﺟﻼل اﻟﺪﻳﻦ،اﻟﺴﻴﻮﻃﻲ أﺑﻮ اﺳﺤﻖ إﺑﺮاﻫﻴﻢ ﺑﻦ ﻣﻮﺳﻰ،اﻟﺸﺎﻃﱯ ، ﳏﻤﺪ ﺑﻦ ﻋﻠﻲ،اﻟﺸﻮﻛﺎﱐ ﻋﻠﻲ،ﻋﺒﺪ اﻟﺮﺳﻮل ﳏﻤﺪ ﻋﺒﺪ اﳊﻠﻴﻢ،ﻋﻤﺮ اﻟﻌﺪد اﳋﺎﻣﺲ واﻟﺴﺎدس ﻳﻮﺳﻒ،اﻟﻘﺮﺿﺎوي ﴰﺲ اﻟﺪﻳﻦ ﺑﻦ ﻋﺒﺪ اﷲ،اﻟﻘﺮﻃﱯ ﺳﻌﺪ ﺑﻦ ﲪﺪان،اﻟﻠﺤﻴﺎﱐ أﺑﻮ اﳊﺴﻦ ﻋﻠﻲ ﺑﻦ ﳏﻤﺪ ﺑﻦ ﺣﺒﻴﺐ،اﳌﺎوردي ﻗﻄﺐ إﺑﺮاﻫﻴﻢ،ﳏﻤﺪ اﳌﺮﻛﺰ اﻟﻌﺎﳌﻲ ﻷﲝﺎث اﻻﻗﺘﺼﺎد اﻹﺳـﻼﻣﻲ ﻣﺮﻛﺰ ﺻﺎﱀ ﻋﺒﺪ اﷲ ﻛﺎﻣﻞ ﻟﻼﻗﺘﺼﺎد اﻹﺳﻼﻣﻲ ﻣﺮﻛﺰ ﺻﺎﱀ ﻋﺒﺪ اﷲ ﻛﺎﻣﻞ ﻟﻼﻗﺘﺼﺎد اﻹﺳﻼﻣﻲ أﲪﺪ ﻋﺒﺪ اﻟﻌﺰﻳﺰ،اﻟﻨﺠﺎر أﲪﺪ ﻋﺒﺪ اﻟﻌﺰﻳـﺰ،اﻟﻨﺠﺎر ﻣﺼﻄﻔﻰ،اﳍﻤﺸﺮي اﳌﺮاﺟﻊ اﻷﺟﻨﺒﻴﺔ: ﺛﺎﻧﻴــًﺎ Ariff ,M. (1982), Monetary and Fiscal Economics of Islam , International Center for Research in Islamic Economics, Jeddah. Burkhead, Jesse (1956), Government Budgeting , John Wiley and Sons, Inc. , New York . Musgrave, Richard A. and Peggy B. Musgrave (1984), Public Finance in Theory and Practice, 4thEdition, Mc Graw - Hill Book Co., New York. Patinkin, Don, (1965), Money, Interest, and Prices,2nd Edition, Harper & Row, New York. Siddiqi, M., Nejatullah, (1992), Teaching Public Finance in Islamic Perspective, Center for Research in Islamic Economics, Jeddah. Thirlwall, A.P. (1974), Growth and Development with Special Refernce to Developing Economics, The Macmillan Press, London. Deficit Financing: Its Legality and Alternatives from Islamic Viewpoint NAJAH ABDUL ALIM ABU’L FUTUH Department of Economics, Girls Islamic College Al Azhar University, Cairo, Egypt ABSTRACT. Deficit financing (or inflationary financing) is a means to finance the deficit in the government budget which is adopted to achieve important economic goals. It is a new provision for which we do not find any special evidence in the Quran, Sunnah or consensus. Nor a precedence is found in such a matter to stick to it or to apply analogy to it. In the light of this, we may treat ‘deficit financing’ as a matter needed by the nation and that it is to be compatible with shariah policy, it must be in accordance to the spirit of shariah and its overall objectives to achieve its social goals, even if no specific text is found in the Quran and Sunnah. The paper argues that the deficit financing is not compatible with shariah policy based on: 1. A comparison between its cost and benefits, especially due to its violation of justice in distribution of income and wealth and so its oppsotion to the shariah spirit and its evidences.. 2. The Islamic Economics offers legal alternatives which can achieve the objectives of deficit financing more efficently without violating justice.
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