Legal Analysis of the Approaches of the Guardian Council Regarding Financing through Foreign Borrowing

Document Type : Original Article

Authors

1 Master of jurisprudence and private law, Faculty of Humanity Science, Shahed University, Tehran, Iran

2 Assistant Professor of jurisprudence and Islamic Law Department, Faculty of Humanity Science, Shahed University, Tehran, Iran

Abstract

One of the important methods of financing for implementing large-scale projects in the country and preventing budget deficits is foreign borrowing. Foreign borrowing has always been considered in various resolutions, including the annual budget bills and the five-year development plan bill, by the Islamic Consultative Assembly. The Guardian Council, in its supervisory role, sometimes approves these resolutions in the initial stage, while at other times it recognizes the nature of this borrowing as usurious and contrary to Islamic law. When the Parliament insists on its resolution, the matter is referred to the Expediency Council according to Article 112 of the Constitution, and ultimately, the Council approves the Parliament's decision. This research, conducted through a descriptive-analytical method, examines these resolutions and analyzes the foundations of the different approaches of the Guardian Council regarding them. It concludes that, considering the fatwa of Imam Khomeini (RA) and the Supreme Leader regarding the permissibility of usurious borrowing with the intention of not paying interest, there is a primary possibility of approving resolutions that include foreign borrowing. Attention to this matter could create a unified approach within the Guardian Council regarding foreign borrowing, relieving lawmakers from issuing secondary rulings and the obligations that come with them, such as the repeated referral of resolutions to the Expediency Council and the temporary nature of these rulings, which require continuous extensions.

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References

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History

  • Receive Date: 01 December 2024
  • Revise Date: 21 December 2024
  • Accept Date: 27 January 2025

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