Saudi-Arabien Wirtschaftshandbuch Saudi Arabia Business ... - Ghorfa

102
Genfer Übereinkommen über das einheitliche Wechselrecht
vom 7. Juni 1930 und dem Übereinkommen zum
Scheckrecht vom 9. März 1931 und ist daher in seinen
Vorschriften den entsprechenden deutschen gesetzlichen
Regelungen sehr ähnlich.
Vor der Einleitung eines gerichtlichen Verfahrens ist
ein Protestverfahren bei der jeweils zuständigen Industrie-
und Handelskammer in Saudi-Arabien durchzuführen.
Die Zuständigkeit liegt bei der jeweiligen
Rechtsabteilung der Industrie- und Handelskammer.
Die dort angesiedelten Proteststellen müssen den
Versuch unternehmen, den Streit außergerichtlich
zu schlichten. Schlägt dies fehl, ist der Weg zu den
Wertpapiergerichten eröffnet. Diese sind nicht die
ordentlichen Gerichte, sondern Kommissionen des
Handelsministeriums (Office for the Settlement of
Commercial Paper Disputes), die mit ministerieller
Order im Jahre 1388 H (1969) in den Städten Jeddah,
Riad und Dammam eingerichtet wurden.
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commercIAl lAw
The commercial law of the Kingdom of Saudi Arabia and
the general civil law are not codified. Both are based on
Islamic law.
The following looks at some basic principles of Islamic
law that have an effect from time to time on commercial
dealings in practice.
the ban on interest (riba Al nasi’ah)
Islamic law contains a ban on charging interest. This ban
on interest is not only an Islamic tradition, it is also known
in the Jewish and Christian worlds. The ban is stated in
Koran Sura 3, Verse 130, which translates as follows: “O
you who believe! Devour not interest, doubled and redoubled,
and be careful of Allah (God); haply so you will
prosper!“ Other sources are Sura 2, Verses 276 – 280 and
Sura 4, Verse 161. It should be noted here that in some
translations the word ‘usury’ is used and in some translations
the word ‘interest’ . The accurate translation of the
Arabic word Riba is ‘usury’ even if ‘interest’ is meant.
Specifically, it is referring to Riba al nasi’ah in contrast to
Riba al fadl, as shown below.
As this ban originates from the Koran, it is irrevocable.
As a consequence, interest may not be charged. This has
a great impact on the banking world. The Islamic banking
system comprises a number of different financing institutes
that are Sharia conform and are all based on the
principle that the financial backer shares the economic
risk, i.e. in principle becomes a stakeholder of the borrower
and therefore has a stake in the profit and loss as
the provider of the capital.
In practice, interest is used in the Saudi Arabian banking
world, however it is given a different name, e.g. administration
charge. However the ban on interest is particularly
important when collecting debts. It is not possible
here to demand interest which means that a Saudi court
will not favour a payment suit, at least as far as the claim
for interest is concerned. A foreign court decision or a
foreign arbitration award, that is to be recognised and
enforced will not be recognised if it contains any claim
for interest. In this case, the ban on interest is like an ordre
public.
Same service in return command (riba al fadl)
The Riba al nasi’ah, the ban on interest, stands in contrast
to the Riba al fadl. This contains the commandment
that service in return – especially for in the case
of counter-trades – needs to be provided in the same,
measurable unit. One example here would be 50 grams
of gold of 18 carat quality. These 50 grams must then be
returned as 18 carat gold and not 14 or 20 carat. This requirement
is sometimes called the ‘same service is return’.
Initially, this is restricted to certain products. There are
religious statements by the Prophet Mohammed which
state the following products, namely gold, silver, wheat,
barley, salt and dates. A number of Islamic legal schools
have analysed the interpretation to see what products
are meant by the ban. As gold and silver has been mentioned,
money is also meant. There are different interpretations
as far as the four foodstuffs are concerned.
Some believe all measurable products are meant, i.e.
not only foodstuffs, others believe the ban should only
apply to foodstuffs. One might think that the practical
significance in today’s business world is negligible, however
the Riba al-fadl commandment is not only applied
for the trading of goods of the same kind, it is more an
example of good conduct that an honest business man
should display. The commandment dictates the basis for
honest, non-usury and exploitive behaviour. It forms
the base for Islamic law to prevent price agreements and
the creation of monopolies and appeals to the sense of
honour of the businessman. If looked at in this way, the
Riba al-fadl can be compared to the German principle
of good faith.