Challenges with contemporary economic Fatwa

This study deals with some of the most important problems that contemporary fatwa faces especially in the economic field. The process of giving fatwa includes some basic parties; namely, the person giving the fatwa, the person asking for fatwa and the institution entitled to issue fatwas. The problems dealt with in this study encompass those three different parties. The problems that relate to the institution giving fatwa include the manipulation of fatwa and influence by political authority, dependence and affiliation of fatwa institutions to the authorities seeking fatwa as in Shariah committees in Islamic banks and shortage of experts in local and international fatwa institutions. The problems that are related to the mufti include issuance of fatwa by unqualified people, hastiness of mufti in live fatwa on satellite channels and the mufti's being too extreme or too lenient. As for the problem related to the person asking for fatwa, it is represented in prejudiced questioning. After clarifying those problems, the study gives some practical examples that reflect the above-mentioned problems. Finally the study proposes some solutions that can mainly contribute to solving such problems.