Principle of Freezing Money in the Islamic Banking

Abstract

In the modern days people face newly emerged issues which were not present in the old days. Because such issues did not exist in the past, they were not addressed by the jurists in past. So, modern day jurisprudence faces unprecedented issues in the present days. This is great achievement of the modern jurists that they address such newly emerged issues by sticking to the basic principles of the jurisprudence and they derive their solutions from these basic principles. Because jurisprudence is to ever exist, changes in the rulings of the issues based on the basic principles will be there and Muslims scholars have always worked on it. Allah has blessed me with a great chance to exercise one such effort in the filed under the title Principle of Freezing Money in the Islamic Banking. This idea came into my mind when my teacher pointed it to me and asked me to compile the available efforts done by the people in a single volume. The issue at hand needed a very detailed and comprehensive study. I pray to Allah that he may guide me in this regard and may He make it a useful attempt from which people may benefit. He may forgive my mistakes and sins while the compilation. The following points are covered in the present article.
 
 Definition and details of the Freezing Money in the Islamic Banking. Its dictionary and terminological meaning.
 Types of money/ investments and clarifications about them.
 Rulings of the invested/ freeze money and the opinions of the jurists about it.
 Referring back to the previous studies conducted in the present field.