This study addresses an important and practical jurisprudential issue, namely the banking services provided by Islamic banks in Palestine and their Shariah regulations, with a particular focus on letters of guarantee. It highlights the need for Islamic banks to understand the Shariah regulations governing letters of guarantee in order to apply and develop them in accordance with Islamic legal rulings.
The study adopts an integrative methodology that combines inductive, analytical, and deductive approaches to analyze the Shariah regulations and derive their legal classification.
The study reached several key findings, most notably: covered and uncovered letters of guarantee differ in their Shariah classification between agency (wakalah) and guarantee (kafalah); Shariah regulations prohibit charging fees on guarantees, but permit them in the case of covered agency contracts. Additionally, it is impermissible to charge a fee directly for the guarantee itself, in accordance with the standards of the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI).

Keywords: Islamic Banks, Shariah Regulations, Letter of Guarantee, Banking Services.

Title

مجلة الميزان للدراسات الإسلامية والقانونية

Publisher

جامعة العلوم الإسلامية العالمية

Publisher Country

Jordan

Publication Type

Prtinted only

Volume

13

Year

2026

Pages

31