Provisions of Financial Broker Role in The Libyan Stock Market

Abstract

This research is for studying roles of financial broker in the Libyan stock market, and then comparing the financial system and laws governing these roles with the Shariah provisions. This study tries to clarify the ambiguity of many legal provisions of financial broker’s roles in the Libyan stock market in terms of Shariah. The study aims to define the financial broker, jobs, and role inside the stock market and how these transactions approach to Islamic fiqh. The research used the descriptional approach to clarify the laws governing the financial broker’s role in the Libyan stock market and its related islamic shariah provisions with study of these laws, their analysis for what have been described, and evaluation in accordance with the provisions of Islamic Fiqh. The researcher has concluded that Shariah's legitimacy of: financial broker transactions, the earned wage for them, penalties for violation of regulations and laws, and control all these by public interest.