Contemporary mortgage among cocoa farmers in Côte d'Ivoire: A study in light of the consequences of Sharia

Abstract

Objectives: This study aims to address the topic of mortgage in Islamic jurisprudence, which refers to "money that is used as collateral in a debt to be collected in case the debtor cannot pay it back." It delves into the modern form of mortgage among cocoa farmers in Ivory Coast, contrasting it with traditional Islamic jurisprudence and its contemporary manifestations. The study highlights the issue concerning the method of mortgage agreements among cocoa farmers in Ivory Coast, the circumstances leading them to adopt this practice, and the opinions of some Ivorian scholars regarding its permissibility or prohibition. This study's significance lies in its examination of a societal matter relevant to the researcher's community through analysis within the framework of Sharia implications.

Methodology: The study followed a descriptive-analytical and comparative methodology, employing interviews to gather information about mortgage practices among cocoa farmers.

Research findings: It arrived at several conclusions: differences emerge between mortgages in Islamic jurisprudence and mortgages among farmers concerning contract terms. The purpose and wisdom behind the farmers' mortgage terms involve trade, investment, and profit multiplication through usurious means, rather than solely aiding the pledger in alleviating hardship, as intended in Islamic jurisprudence. Farmers resort to mortgages to obtain sufficient funds for trade resumption, rebuilding flood-damaged homes, purchasing new homes, completing pilgrimage provisions, or for the purpose of treating a patient.

Contribution: The study contributes to finding solutions to the issue of usurious mortgages that are widespread in the society, and this is evident in the fact that the research dealt with the issue through study and analysis from the perspective of the implications of Sharia law, considering its motives and the conditions of those dealing with the issue.