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Document Details
Document Type
:
Article In Journal
Document Title
:
Distinguishing Financial Intermediation From Brokerage and Trading
التمييز بين مفاهيم الوساطة المالية والتمويل والمتاجرة
Subject
:
Discussion Forum
Document Language
:
Arabic
Abstract
:
The broker and the merchant – though different- provide ultimately the same economic function, namely: intermediation that reduces the cost of moving goods from their owners or producers to their customers. Brokerage gives rise to direct bilateral relationship between two parties to an exchange, with the broker only a catalyst, but trading gives rise to an indirect tripartite relationship, where the merchant is one of the parties. This applies to banking, which intermediates between surplus and deficit economic agents on the basis of “trading” rather than “brokerage” in financial resources. Tripartite banking intermediation provides what in Islamic juristic terms is called “public need” in economic life, a need which is more urgent than any catered to by commercial intermediation in goods. The challenges faced in organizing banking intermediation on non-interest bases does not justify reversion to financial brokerage which can never replace banking.
ISSN
:
1018-7383
Journal Name
:
Islamic Economics Journal
Volume
:
10
Issue Number
:
1
Publishing Year
:
1418 AH
1998 AD
Number Of Pages
:
5
Article Type
:
Article
Added Date
:
Sunday, October 11, 2009
Researchers
Researcher Name (Arabic)
Researcher Name (English)
Researcher Type
Dr Grade
Email
محمد أنس الزرقا
MUHAMMAD ANAS ZARKA
Researcher
Files
File Name
Type
Description
21055.pdf
pdf
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