APPLICATIONS AND ANALYSIS OF SALES OF RECEIVABLES - Example of Asset Management Company

In the commercial relations that human beings have entered, they can pay the price of the products they buy in cash, or they can pay them in deferred payment by way of borrowing. Today, the majority of commercial relations are made by borrowing method and the maturity of the debts in question is long, causing the person or institutions in the position of creditors to have cash problems. The creditor party sells the receivables in question, which we expect to be collected from the debtor, in order to meet his cash needs and to eliminate the loss in the best way possible due to the debtors' insolvency. The book evaluates this practice, which has become widespread because it is a current issue that concerns the majority of the society, in terms of Islamic law. The amount of debt in the economies has increased as a result of the fact that commercial dyestuffs are not based on cash payments and are carried out mostly by borrowing. Due to the effects of economic crises and other factors, difficulties were experienced in repayment of debts and the loss of the creditor came to the fore. Various methods have been used to eliminate this damage. One of the theories operating in this context is the asset management companies that come to the forefront with their assignment of receivables. The purpose of this book, which deals with the assignment of receivables practices performed by asset management companies, is to determine the principles and provisions of Islamic law that are revealed from the subject of assignment of receivables, to analyze the activities of asset management companies in the field of application, and finally to evaluate the current practice according to the principles of Islamic law.
In the book, the sources of the Shafii, Hanteli, Maliki and Zahiri sects were also examined in order to evaluate the views put forward about the receivables sales transactions as the basis, as well as the views of the Hanafi sect.