Interest in civil transactions in accordance with the legislation in force in Palestine

Abstract

In this research, we addressed a very important topic, which is interest in civil transactions in accordance with the provisions of the legislation in force in Palestine. We found that there was a contradiction in regulating the provisions of interest in relation to civil transactions. We further found that some laws applied in Palestine, such as the Ottoman Civil Code (the Mecelle), prohibit the collection of interest in civil transactions, while there are some other laws that permit it, such as the Ottoman Murabaha system. This caused practical legal problems in the subject of interest, as well as difficulties in judicial work, in particular the conflict of some judicial rulings related to interest due to the lack of a legislative decision on it.

The researcher followed the descriptive analytical approach in this study. The descriptive approach was to describe and identify the laws related to the subject of the study, and the analytical approach was to analyze the legal texts and explain their content.

The researcher reached a series of findings, the most important of which being that many of the legislation in force in Palestine regulated the provisions of interest in civil transactions, contrary to the Ottoman Civil Code (the Mecelle), which prohibited the transaction of interest.