In The Framework of Islāmic Finance Principles, Smart Contracts  - in The Context of Ijāra-Based Diminishing Mushārakah

Nurten Zeliha Şahin

Makale detayları

In The Framework of Islāmic Finance Principles, Smart Contracts - in The Context of Ijāra-Based Diminishing Mushārakah

Yazarlar:

Nurten Zeliha Şahin

Yayıncı:

Zonguldak Bulent Ecevit University

Ana Başlıklar:

İslam Hukuku

Dergi:

BEÜ İlahiyat Fakültesi Dergisi Vol.11 Issue 2, pp.371-401

Belge Tipi:

Makale

Yayın Tarihi:

12/2024

Belge Dili:

Türkçe

Document ID (Org No.):

2001333964

pISSN:

2148-3728

Anahtar kelimeler:

Özet:

 The blockchain-based smart contract, which came with the development of blockchain technology, has opened a new perspective in contract logic by bringing the transition from a contract type in which the acts are performed manually to a self-executing contract as pre-coded. In this study, it is aimed to concretize the possibility of performing performance obligations in smart contracts by taking the ijārah-based diminishing mushārakah contract as an example. Because this contract is a contract with performance obligations spread over a period of time. Smart contracts bring together multiple people or institutions with the same consensus algorithm, allowing the process to be managed together. Smart contracts are very new now, and although there are still theories on how to implement them, in-depth analysis is needed of how they can be implemented for each contract. In this context, the study includes a general evaluation of the applicability of smart contracts within the framework of Islamic finance principles. In these evaluations, the standards set by Accounting and Auditing Organization for Islāmic Financial Institutions AAOIFI for Islāmic finance were taken as basis in terms of the applicability of smart contracts in Islāmic finance. In addition, the technical choices that can be made regarding the transfer of the ijārah-based diminishing mushārakah contract to the smart contract and which performance obligations can be transferred to the smart contract were among the issues discussed in the context of the study. In evaluating whether a smart contract has the elements that make a contract valid, classical sources are taken as basis, but since smart contract is a subject that comes with digitalization, modern sources have been used in this context. As a result, the fixed installments to be paid for in diminishing mushārakah contract and the uncertainty in the value of crypto assets have revealed that there is a greater need for studies on how this fixation will be achieved. In addition, since it is a technology that is still in its infancy, it can be said in the context of this study that the integration of smart contracts in Islāmic finance will be faster if the contracts are considered one by one and their adaptability is emphasized.

 The blockchain-based smart contract, which came with the development of blockchain technology, has opened a new perspective in contract logic by bringing the transition from a contract type in which the acts are performed manually to a self-executing contract as pre-coded. In this study, it is aimed to concretize the possibility of performing performance obligations in smart contracts by taking the ijārah-based diminishing mushārakah contract as an example. Because this contract is a contract with performance obligations spread over a period of time. Smart contracts bring together multiple people or institutions with the same consensus algorithm, allowing the process to be managed together. Smart contracts are very new now, and although there are still theories on how to implement them, in-depth analysis is needed of how they can be implemented for each contract. In this context, the study includes a general evaluation of the applicability of smart contracts within the framework of Islamic finance principles. In these evaluations, the standards set by Accounting and Auditing Organization for Islāmic Financial Institutions AAOIFI for Islāmic finance were taken as basis in terms of the applicability of smart contracts in Islāmic finance. In addition, the technical choices that can be made regarding the transfer of the ijārah-based diminishing mushārakah contract to the smart contract and which performance obligations can be transferred to the smart contract were among the issues discussed in the context of the study. In evaluating whether a smart contract has the elements that make a contract valid, classical sources are taken as basis, but since smart contract is a subject that comes with digitalization, modern sources have been used in this context. As a result, the fixed installments to be paid for in diminishing mushārakah contract and the uncertainty in the value of crypto assets have revealed that there is a greater need for studies on how this fixation will be achieved. In addition, since it is a technology that is still in its infancy, it can be said in the context of this study that the integration of smart contracts in Islāmic finance will be faster if the contracts are considered one by one and their adaptability is emphasized.

 The blockchain-based smart contract, which came with the development of blockchain technology, has opened a new perspective in contract logic by bringing the transition from a contract type in which the acts are performed manually to a self-executing contract as pre-coded. In this study, it is aimed to concretize the possibility of performing performance obligations in smart contracts by taking the ijārah-based diminishing mushārakah contract as an example. Because this contract is a contract with performance obligations spread over a period of time. Smart contracts bring together multiple people or institutions with the same consensus algorithm, allowing the process to be managed together. Smart contracts are very new now, and although there are still theories on how to implement them, in-depth analysis is needed of how they can be implemented for each contract. In this context, the study includes a general evaluation of the applicability of smart contracts within the framework of Islamic finance principles. In these evaluations, the standards set by Accounting and Auditing Organization for Islāmic Financial Institutions AAOIFI for Islāmic finance were taken as basis in terms of the applicability of smart contracts in Islāmic finance. In addition, the technical choices that can be made regarding the transfer of the ijārah-based diminishing mushārakah contract to the smart contract and which performance obligations can be transferred to the smart contract were among the issues discussed in the context of the study. In evaluating whether a smart contract has the elements that make a contract valid, classical sources are taken as basis, but since smart contract is a subject that comes with digitalization, modern sources have been used in this context. As a result, the fixed installments to be paid for in diminishing mushārakah contract and the uncertainty in the value of crypto assets have revealed that there is a greater need for studies on how this fixation will be achieved. In addition, since it is a technology that is still in its infancy, it can be said in the context of this study that the integration of smart contracts in Islāmic finance will be faster if the contracts are considered one by one and their adaptability is emphasized.

 Blokzincir teknolojisindeki gelişme ile birlikte gelen blokzincir tabanlı akıllı sözleşme, edimlerin manuel ifâ edildiği sözleşme tipinden önceden kodlandığı şekli ile kendi kendine ifâ eden bir sözleşmeye geçişi getirmesiyle sözleşme mantığında yeni bir perspektif açmıştır. Bu çalışmada icâre temelli müşâreke akdi örneklem alınarak edim yükümlülüklerin akıllı sözleşmede ifâ edilebilirliğinin somutlaştırılabilmesi amaçlanmıştır. Çünkü bu sözleşme sürece yayılmış edim yükümlükleri bulunan bir sözleşmedir. Akıllı sözleşme ise birden fazla kişi veya kurumu aynı mutabakat algoritması üzerinde toplayarak sürecin birlikte yönetilebilirliğini getirmektedir. Akıllı sözleşmelerin nasıl uygulanacağı ile ilgili teoriler yapılmakla birlikte her sözleşme özelinde nasıl uygulanabileceğine dair derinlemesine analizlere ihtiyaç vardır. Çalışma bu bağlamda İslâmî finans ilkeleri çerçevesinde akıllı sözleşmelerin uygulanabilirliği ile ilgili genel bir değerlendirmeyi içermektedir. Bu değerlendirmelerde akıllı sözleşmelerin İslâmî finansta uygulanabilirliği açısından İslami Finans Kuruluşları Muhasebe ve Denetim Kuruluşunun AAOIFI İslâmî finans için belirlediği standartlar temel alınmıştır. Ayrıca icâre temelli azalan müşâreke akdinin akıllı sözleşmeye aktarılması ile ilgili teknik açıdan hangi tercihlerin yapılabileceği ve hangi edim yükümlülüklerinin akıllı sözleşmeye aktarılabileceği çalışma bağlamında ele alınan hususlardan olmuştur. Özellikle akıllı sözleşmenin bir akdi sahih kılan unsurları taşıyıp taşımadığı değerlendirmeye konu edinilmesinde klasik kaynaklar temel alınmakla birlikte akıllı sözleşme, dijitalleşme ile gelen bir konu olduğundan bu bağlamda modern kaynaklardan faydalanılmıştır. Sonuç olarak, azalan müşâreke akdinde ödenecek taksitlerin sabit olması, kripto varlıkların ise değerindeki belirsizlik, bu sabitenin nasıl sağlanacağı ile ilgili çalışmalara daha çok ihtiyaç olduğunu ortaya koymuştur. Ayrıca henüz emekleme aşamasında bir teknoloji olduğu için sözleşmelerin tek tek ele alınarak nasıl uyarlanabilirliği üzerinde durulursa İslâmî finansta akıllı sözleşmelerin entegrasyonunun daha hızlı olacağı bu çalışma bağlamında söylenebilir.

Makale detayları

In The Framework of Islāmic Finance Principles, Smart Contracts - in The Context of Ijāra-Based Diminishing Mushārakah

Yazarlar:

Nurten Zeliha Şahin

Yayıncı:

Zonguldak Bulent Ecevit University

Ana Başlıklar:

İslam Hukuku

Dergi:

BEÜ İlahiyat Fakültesi Dergisi Vol.11 Issue 2, pp.371-401

Belge Tipi:

Makale

Yayın Tarihi:

12/2024

Belge Dili:

Türkçe

Document ID (Org No.):

2001333964

pISSN:

2148-3728

Islamic Law

Islamic Finance

Fintech

Ijarah Based Diminishing Musharakah

Smart Contract.İslâm Hukuku

İslâmî Finans

Fintek

İcâre Temelli Azalan Müşâreke

Akıllı Sözleşme.

Sayı

Makale detayları

Yazarlar: Nurten Zeliha Şahin

Yayıncı: Zonguldak Bulent Ecevit University

Ana Başlıklar: İslam Hukuku

Dergi: BEÜ İlahiyat Fakültesi Dergisi Vol.11 Issue 2, pp.371-401

Belge Tipi: Makale

Yayın Tarihi: 12/2024

Belge Dili: Türkçe

Document ID (Org No.): 2001333964

pISSN: 2148-3728

Sayı

Yazarlar:

Nurten Zeliha Şahin

Yayıncı:

Zonguldak Bulent Ecevit University

Ana Başlıklar:

İslam Hukuku

Dergi:

BEÜ İlahiyat Fakültesi Dergisi Vol.11 Issue 2, pp.371-401

Belge Tipi:

Makale

Yayın Tarihi:

12/2024

Belge Dili:

Türkçe

Document ID (Org No.):

2001333964

pISSN:

2148-3728