Futures Contracts

This study aims to clarify the nature of future contracts and the legal rulings associated with those contracts. The researcher used the historical descriptive approach to reach the results of the research, as he reached a number of conclusions, namely: Fiqh councils and most contemporary scholars have prohibited using future contracts. Similarly, the Auditing and Accounting Authority for Islamic Financial Institutions supported this opinion. A number of evidences supported these opinions like the existence of a clear defect in the contract essence, in addition these activities are considered forbidden and prohibited by the consensus of scholars