Application of the Logical Reasoning Method Based on Analogy in the Design of Islamic Financial Instruments

Abstract

Among the most important functions of an efficient Islamic financial system is to support the real sector of the economy. Such a system must work to strengthen the real sector of the economy and continuously seek to respond to its basic needs. One of the most important ways to achieve this goal is to design and use proper and efficient financial tools to finance companies and related projects. Tools such as bonds, mortgage bonds, and murabaha bonds are among the tools designed and published for this purpose. To design an efficient Islamic finance tool that addresses all aspects such as financial planning, legal and Islamic jurisprudential considerations, risk management, tax considerations and financial reporting, using an appropriate research method could be helpful. The method of logical research based on analogy (axiomatic) is one of these methods that helps researchers to extract the basic principles of designing financial instruments and also to design appropriate financial instruments.

Keywords

• islamic financial instruments
• islamic securities
• islamic financial engineering
• financial management
• analogical methodology
• axiomatic