Conditional Sales and Other Types of Loans in Qajar Iran

In: Journal of the economic and social history of the Orient: Journal d'histoire économique et sociale de l'orient, Band 64, Heft 5-6, S. 615-639

Abstract

Abstract
This article examines various aspects of conditional sales (bayʿ-i sharṭ) and other types of loans in Qajar Iran (1796-1925). Islamic law prohibited usury, but Shiʿi jurists found a way to legalize money lending at interest. In this paper, I explore how these transactions occurred in practice and what features they had. To this end, I consider three groups of bayʿ-i sharṭ deeds from the National Archives of Iran, discussing how each case proceeded and how differences between cases reveal the ways in which this type of transaction functioned. While similar types of transactions were allowed in other regions and schools of law, the details of Shiʿi legal devices were distinctive.