Towards a legal vision in financial contracts
Number: PO / 591 Date: 03/28/2020
Honorable Prime Minister - Minister of Defense
Peace, mercy and blessings of God
I am pleased in the Al-Rakhaa Association for Businessmen that our contributions are positive and cooperative in alleviating the effects of the ordeal of Corona that has afflicted the whole world and Jordan in particular, and we are honored to present a contribution from the member of the association, Professor Lawyer Dr. Muhammad Fakhri Sweileh regarding the legal consequences of the emergency situation of financial contracts that will appear after the end of this ordeal with the help of God Almighty.
You know your country that the disaster of the Corona virus has affected the whole world, and directly affected the local and international contractual relations between individuals, companies and countries, and you know your country that a bomb will explode soon in the world of financial relations after the dust of the current crisis has passed. The Middle East and the world are deliberating among themselves, trying to reach balanced solutions that do not create a new crisis.
Therefore, the following must be remembered:
1. The necessity of inviting elites of money and law to deliberate and consult with what contributes, and to present a mature legal vision suitable for issuing a specialized financial defense order in support of it.
2. Issuance of a specialized defense order entitled {Legal controls for emergency symptoms of obligations}.
3. The defense order must observe financial contracts in all their forms (simple and described, complete and lax and involve local and international craftsmanship) and organize what will be considered of them before the regular judiciary and before arbitration, whether free or institutional.
4. To take into account in the defense order’s regulations, access to balanced and equitable provisions that prevent disputes and create a state of stability for legal centers, and in order to prevent any catastrophic effects of imbalances in contractual obligations at all levels and forms.
5. I suggest that the defense order be based on what has ended with the applications of pandemic theory in Islamic jurisprudence and modern legal financial applications.
May God protect the homeland and its people under the wise Hashemite leadership
Peace, mercy and blessings of God
Assembly President
fahed tawel