Bankruptcy in Ja’farī Jurisprudence

Abstract

The study examines bankruptcy in Islam from the perspective of the Ja'farī school of jurisprudence. To this end, it first describes the meaning of the term ‘iflās’ (bankruptcy). Then, considering the connection between ‘i’sār’ (insolvency) and iflās, the article elucidates the relationship between iflās and i’sār as well as the differences between them. However, the main issues the paper deals with are the conditions required for the issuance of the bankruptcy judgment and its effects on the debtor and the creditors. Meanwhile, it seeks to show that the provisions of Islamic and Shiite bankruptcy laws are debtor-friendly. Moreover, the article explores the Shiite resources in order to demonstrate the similarities between Islamic bankruptcy and the prevailing laws in Western countries.

Keywords

• islamic law
• ja’fari jurisprudence
• iflās
• i’sār
• bankruptcy
• shiite law
• i̇slam hukuku
• caferî hukuku
• i̇flâs
• i̇ʽsâr
• şiî fıkhı