Читать книгу A Dictionary of Islam. Being a cyclopedia of the doctrines, rites, ceremonies, and customs, together with the technical and theological terms, of the Muhammadan religion онлайн

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There is another transaction which comes within the definition of sale, and has been already noticed, but may be further adverted to in this place. It is that which is called Qarẓ in the Arabic, and “loan” in the English language. The borrower acquires an absolute right of property in the things lent, and comes under an engagement to return an equal quantity of things of the same kind. The transaction is therefore necessarily limited to similars, whether of weight, capacity, or tale, and the things lent and repaid being of the same kind, the two rules already mentioned for the prevention of reba, or “usury,” must be strictly observed. Hence it follows that any stipulation on the part of the borrower for delay or forbearance by the lender, or any stipulation by the lender for interest to be paid by the borrower are alike unlawful.

Notwithstanding the stringency of the rules for preventing usury, or the taking any interest on the loan of money, methods were found for evading them and still keeping within the letter of the law. It had always been considered lawful to take a pledge to secure the repayment of a debt. Pledges were ordinarily of movable property; when given as security for a debt, and the pledge happened to perish in the hands of the pawnee, the debt was held to be released to the extent of the value of the pledge. Land, though scarcely liable to this incident, was sometimes made the subject of pledge, and devices were adopted for enabling the lender to derive some advantage from its possession while in the state of pledge. But the moderate advantage to be derived in this way does not seem to have contented the money-lenders, who in all ages and countries have been of a grasping disposition, and the expedient of a sale with a condition for redemption was adopted, which very closely resembles an English mortgage. In the latter, the condition is usually expressed in one of two ways, viz. either that the sale shall become void, or that the lender shall resell to the seller, on payment of principal and interest at an assigned term. The first of these forms would be inconsistent with the nature of sale under the Muḥammadan law, but a sale with a covenant by the lender to reconvey to the seller on repayment of the loan seems to have been in use probably long before the form was adopted in Europe. It is probable that a term was fixed within which the repayment should be made. If repayment were made at the assigned term, the lender was obliged to reconvey; but if not, the property would remain his own, and the difference between its value and the price or sum lent might have been made an ample compensation for the loss of interest. This form of sale, which was called Baiʿu ʾl-Wafāʾ, seems to have been strictly legal according to the most approved authorities, though held to be what the law calls abominable, as a device for obtaining what it prohibits.