论阿拉伯国家的信用证欺诈问题

Abstract:With the deepening of the “Belt and Road” construction，the exchanges between China and Arab countries have become closer. As a commonly used settlement instrument in international trade，letters of credit appear more frequently in economic and trade transactions，and the problem of letter of credit fraud has become increasingly prominent. Fraud is prohibited by Islamic law，but the absence of relevant legal norms in modern Arab countries leaves the determination of letter of credit fraud to the discretion of judges in their decisions. However，different courts have not applied the same standard and have failed to apply a strict “substantive fraud” standard in dealing with factors affecting the underlying contract，such as false documents and worthless goods，leading to the misuse of the fraud exception and the abuse of the stop payment mechanism，which has seriously undermined the independence of letters of credit. China has special regulations on fraud and stop payment of letters of credit. When dealing with disputes over fraudulent letters of credit in Arab countries，we should strive to apply our laws to avoid risks to the maximum extent and safeguard trade efficiency and security.

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