A scientific session held by the Jurisprudence and Economics Group of the Center for Contemporary Jurisprudence Studies in cooperation with the Islamic Economics Association of Qum Seminary was dedicated to the jurisprudential study of money creation and its control solutions. The session was held on Saturday, January 5, at 3:30 pm, and two prominent observers from prestigious universities in the country gave speeches.

Presenter: Hujjat al-lslam Wa al-Muslimin Dr. Ahmad Reza Safa

In this session, Hujjat al-lslam Wa al-Muslimin Dr. Ahmad Reza Safa, a faculty member of Kharazmi University, explained the issue of money creation. He emphasized that one of the basic principles of Islamic economics is the two foundations of wealth and fair distribution, and that each economic method must adhere to these principles. He stated that money creation means increasing liquidity in society, which is done through two types: bank money creation (derived from partial reserves) and money creation from nothing (additional bank withdrawals).

He emphasized the Shari’ah principles related to money creation, stating that money creation cannot be legitimate if it violates the rights of others or leads to fraud. According to Dr. Safa, special attention needs to be paid to the inflationary and unfair effects of commercial bank money creation on the economy. He highlighted the importance of preventing economic activities that violate Shari’ah by mentioning rules such as “eating money justly”.

Critic: Hujjat al-Islam wa al-Muslimin Dr. Sayyid Hadi Arabi

Hujjat al-Islam wa al-Muslimin Dr. Sayyid Hadi Arabi, a critic and faculty member of Qum University, praised Dr. Safa’s fluent and comprehensive writing in his critique and comments on his report. He emphasized the importance of the issue of money creation in the economy of society and pointed out that this issue, due to its complexity and various dimensions, requires more detailed and detailed studies.

Dr. Arabi also warned that complex issues such as money creation should be addressed with more caution and precision in order to maintain public trust in the clergy and the authority. He suggested that multiple and detailed meetings be held to fully cover this issue.

This meeting attracted the attention of many interested parties and experts due to the importance of the issue and its wide-ranging effects on the economy and society.

Those interested can follow the meetings at the address: No. 53, Alley 30, Dawre Shahr, Qum. Research Center for Contemporary Jurisprudence Studies, or virtually via the link: https://bbb.riicj.com/rooms/ffe-obk-afb-qiq/join.