Contracts and obligations of loan for consumpti̇on in Islamic fiqh

Loan for consumption is a contractual system based on the principle of solidarity which aims to meet people's need without expecting any benefit considering the humanitarian values. In our study, we gathered information about loan for consumption from verdicts of main fiqh books and examined them by making use of the studies of modern world's legal experts. We carried out this work with the aim of expressing our opinion by sharing different points of views of the sect İmâms and make comparisons to bring loan for consumption into use. Despite its functionality is at low levels now, loan for consumption is still among the voluntary agreements according to Islamic fiqh. Existence of loan for consumption is needed especially because of the fact that Islam forbids interest and there are significant amount of people who don't want to be part of any side of a loan on interest for their essential needs. Our study consists of introduction and three other sections. In the introduction part, importance, aim and the scope of the research topic are mentioned. We also gave examples from other studies done beforehand. In the first part, the meaning, nature and legal basis of loan for consumption are explained. In the second part, the elements and miscellenaous provisions are given place. In the third part, comparison of loan for consumption to similar agreements and several legal steps regarding obtaining this type of loan are mentioned. We ended our study with a conclusion and evaluation section. Keywords: Loan for consumption, Benevolent Loan, Grant a loan, Lender, Borrower