Browsing by Topic Muamalat contracts

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Showing results 4 to 13 of 38
  • Bay_al-dayn_wa-atharuhu_fi_al-aswaq_al-maliyah_Younes.pdf.jpg
  • Journal Article


  • Authors: Younes Soualhi; Awali Muhammad Sharif (2011)

  • The sale of debt is part of the jurisprudence of Islamic financial transactions that is used by people for a long time; however, it has become more prevalent in the present day. It is among the features of the modern era that an individual is either creditor or debtor, rather modern day institutions are based on debt transactions such as financial markets. A great number of people and institutions are dealing with debt- based transactions in all its forms and types without knowing whether this kind of transaction is halal (permissible) or haram (prohibited); this negligence is pointed out in the Prophetic tradition that states: "A time will come when a man doesn't mind if he is earnin...

  • beneficial_ownership_what_extent_complies_shariah_rahim_yusuf_ahcene.pdf.jpg
  • Journal Article


  • Authors: Nik Abdul Ghani, Nik Abdul Rahim; Saleem, Muhammad Yusuf; Lahsasna, Ahcene (2015)

  • This paper is a preliminary research on studying the application of beneficial ownership in Islamic financial products. It aims at investigating the meaning of beneficial ownership and its recognition in the Shari'ah perspective. This paper starts with identifying the meaning of milkiyyah (ownership) and its characteristics in the Islamic law and followed by the discussion on beneficial ownership from legal perspective. The study emphasizes on the historical and theoretical aspects of beneficial ownership. It then critically elucidates the meaning of beneficial ownership and its use in commercial transaction as to ascertain whether its use is in compliance with the requirements of own...

  • item.jpg
  • Research Monograph


  • Authors: Saleem, Muhammad Yusuf; Abozaid, Abdulazeem (2013)

  • In Islam, a loan (qard) is considered a gratuitous contract, and providing a loan to a person in need is a recommended (mandub) act for which a lender is rewarded. The gratuitous nature of the loan contract is emphasised in various hadiths which also prohibit the lender from deriving any stipulated benefit from the loan he has provided. Loans that generate conditional benefit to the lender are considered usurious. The practice of usury (riba) is inextricably tied to the loan and debt where a lender charges the borrower an additional amount. The main focus of this research paper is to provide a critical discussion on the ruling that prohibits the lender from deriving conditional benefi...

  • item.jpg
  • Master


  • Authors: Yousafzai, Essa Omar (2018)

  • This paper aims to investigate whether Shari'ah stock index, exchange rates and macroeconomic forces in Japan have any long run relationship or not. If the relationship exists, does the Shari'ah stock index lead or lag? The paper is likely to be the first study that investigates the causal relationship of aforementioned variables and the Shari'ah Index in Japan. Current literature on the topic in different countries gives either contradictory or inclusive results. This study will try to fill two gaps, one relating to Japan, and another relating to Islamic Indices. It employed quarterly data from 2007 to 2017. Auto-Regressive Distributed lag (ARDL) time series technique is applied to c...

  • commodity_murabaha_does_it_violate_Islamic_norms_zubair.pdf.jpg
  • Journal Article


  • Authors: Hasan, Zubair (2008)

  • Recently commodity murabaha has run into disrepute due to court decisions going against the use of this instrument in Islamic banks. This brief note argues that at fault has been the structure of contracts and the excessive use of the instrument. In principle, commodity murabaha is doubtless rooted deep in the Islamic Shari'ah.

  • contemporary_practices_musharakah_financial_transactions_takao_etal.pdf.jpg
  • Journal Article


  • Authors: Moriguchi, Takao; Khattak, Mudeer Ahmed; Farhan, Muhammad; Firdaus, Mohamad; Worasutr, Asas; Lukman Hakim, Andi; Musthafa, Fikry; Muneeza, Aishath (2016)

  • Musharakah, which is translated as 'joint venture or partnership' or 'profit and loss sharing contract' is regarded as an ideal financing contract in Islamic finance. Musharakah has been applied to Islamic banking and Islamic capital market across the world and it is also proposed as one of alternative model in takaful business. Musharakah contract is also combined with other contracts and interesting products such as Musharakah Mutanaqisa has been developed. However, there are considerations concerning the principles of Shariah. This paper aims to discuss these matters and offer recommendations in order for Musharakah to be more widely accepted and adopted by the Muslim communities a...

  • Enhancing_application_of_musharakah_through_blockchain_Aishath.pdf.jpg
  • Industry Article


  • Authors: Aishath Muneeza; Jin Zichu; Iman Najwa Abdul Razak (2018)

  • Islamic banks are still relying on debt-like modes of financing since most equity based finances need long term commitment. The basic principle of Islamic banking is the sharing of profit and loss and the prohibition of riba (interest).Additionally, PLS arrangements have been specifically acknowledged as ideal modes of financing in Islamic finance. But to date, the actual practice of Islamic banking has been far removed from these models. Nearly all Islamic banks, investment companies, and investment funds offer trade and project finance based on mark-up, commissioned manufacturing, or on leasing bases. There is not much difference in substance between IFIs and conventional financial ...

  • The fiqh characterization of ijarah mawsufah fi al-dhimmah_Said_Adekunle.pdf.jpg
  • Journal Article


  • Authors: Sa'id Adekunle Mikail (2013)

  • The application of the Shari'ah principle of ijarah mawsufah fi al-dhimmah (forward lease) can be traced back to the early days of Islam. It is derived from the original contract of ijarah (lease), which has been widely used in the structuring of Islamic financial transactions to cater for various Muslim and non-Muslim needs over time. Thus, the classical books of Islamic jurisprudence have amply discussed its applications in various forms according to the prevailing circumstances. Today, ijarah mawsufah fi al-dhimmah is applied in the offering of various services in the Islamic finance industry relating to education, medical treatment, tourism, hajj and 'umrah, among others. Neverthe...

  • implication_hawalah_Islamic_finance_practice_aishath.pdf.jpg
  • Journal Article


  • Authors: Al Raisi, Al Khansa Sulaiman Dawood; Rodriguez, Imelda; Tustikbayev, Miras; Omarova, Nazerke; Abdul Rahman, Waleeda; Muneeza, Aishath (2016)

  • This article aims at examining the concept of Hawalah and its contemporary applications in banking sector. For this purpose, the authors examine the conceptual and literal meaning of Hawalah and scrutinise its applications in two Malaysian banks. While Bank A is a dual bank which offers both conventional and Islamic banking, Bank B is a full-fledged Islamic bank. Results indicated that there is a general lack of awareness about the concept of Hawalah used by both banks. Although there is strong awareness of Islamic Shariah's strong prohibition on taking interest, the staff members are uninformed about the underlying concepts of Hawalah. In addition, the authors found that the hawalah-...

Browsing by Topic Muamalat contracts

Jump to: 0-9 A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
or enter first few letters:  
Showing results 4 to 13 of 38
  • Bay_al-dayn_wa-atharuhu_fi_al-aswaq_al-maliyah_Younes.pdf.jpg
  • Journal Article


  • Authors: Younes Soualhi; Awali Muhammad Sharif (2011)

  • The sale of debt is part of the jurisprudence of Islamic financial transactions that is used by people for a long time; however, it has become more prevalent in the present day. It is among the features of the modern era that an individual is either creditor or debtor, rather modern day institutions are based on debt transactions such as financial markets. A great number of people and institutions are dealing with debt- based transactions in all its forms and types without knowing whether this kind of transaction is halal (permissible) or haram (prohibited); this negligence is pointed out in the Prophetic tradition that states: "A time will come when a man doesn't mind if he is earnin...

  • beneficial_ownership_what_extent_complies_shariah_rahim_yusuf_ahcene.pdf.jpg
  • Journal Article


  • Authors: Nik Abdul Ghani, Nik Abdul Rahim; Saleem, Muhammad Yusuf; Lahsasna, Ahcene (2015)

  • This paper is a preliminary research on studying the application of beneficial ownership in Islamic financial products. It aims at investigating the meaning of beneficial ownership and its recognition in the Shari'ah perspective. This paper starts with identifying the meaning of milkiyyah (ownership) and its characteristics in the Islamic law and followed by the discussion on beneficial ownership from legal perspective. The study emphasizes on the historical and theoretical aspects of beneficial ownership. It then critically elucidates the meaning of beneficial ownership and its use in commercial transaction as to ascertain whether its use is in compliance with the requirements of own...

  • item.jpg
  • Research Monograph


  • Authors: Saleem, Muhammad Yusuf; Abozaid, Abdulazeem (2013)

  • In Islam, a loan (qard) is considered a gratuitous contract, and providing a loan to a person in need is a recommended (mandub) act for which a lender is rewarded. The gratuitous nature of the loan contract is emphasised in various hadiths which also prohibit the lender from deriving any stipulated benefit from the loan he has provided. Loans that generate conditional benefit to the lender are considered usurious. The practice of usury (riba) is inextricably tied to the loan and debt where a lender charges the borrower an additional amount. The main focus of this research paper is to provide a critical discussion on the ruling that prohibits the lender from deriving conditional benefi...

  • item.jpg
  • Master


  • Authors: Yousafzai, Essa Omar (2018)

  • This paper aims to investigate whether Shari'ah stock index, exchange rates and macroeconomic forces in Japan have any long run relationship or not. If the relationship exists, does the Shari'ah stock index lead or lag? The paper is likely to be the first study that investigates the causal relationship of aforementioned variables and the Shari'ah Index in Japan. Current literature on the topic in different countries gives either contradictory or inclusive results. This study will try to fill two gaps, one relating to Japan, and another relating to Islamic Indices. It employed quarterly data from 2007 to 2017. Auto-Regressive Distributed lag (ARDL) time series technique is applied to c...

  • commodity_murabaha_does_it_violate_Islamic_norms_zubair.pdf.jpg
  • Journal Article


  • Authors: Hasan, Zubair (2008)

  • Recently commodity murabaha has run into disrepute due to court decisions going against the use of this instrument in Islamic banks. This brief note argues that at fault has been the structure of contracts and the excessive use of the instrument. In principle, commodity murabaha is doubtless rooted deep in the Islamic Shari'ah.

  • contemporary_practices_musharakah_financial_transactions_takao_etal.pdf.jpg
  • Journal Article


  • Authors: Moriguchi, Takao; Khattak, Mudeer Ahmed; Farhan, Muhammad; Firdaus, Mohamad; Worasutr, Asas; Lukman Hakim, Andi; Musthafa, Fikry; Muneeza, Aishath (2016)

  • Musharakah, which is translated as 'joint venture or partnership' or 'profit and loss sharing contract' is regarded as an ideal financing contract in Islamic finance. Musharakah has been applied to Islamic banking and Islamic capital market across the world and it is also proposed as one of alternative model in takaful business. Musharakah contract is also combined with other contracts and interesting products such as Musharakah Mutanaqisa has been developed. However, there are considerations concerning the principles of Shariah. This paper aims to discuss these matters and offer recommendations in order for Musharakah to be more widely accepted and adopted by the Muslim communities a...

  • Enhancing_application_of_musharakah_through_blockchain_Aishath.pdf.jpg
  • Industry Article


  • Authors: Aishath Muneeza; Jin Zichu; Iman Najwa Abdul Razak (2018)

  • Islamic banks are still relying on debt-like modes of financing since most equity based finances need long term commitment. The basic principle of Islamic banking is the sharing of profit and loss and the prohibition of riba (interest).Additionally, PLS arrangements have been specifically acknowledged as ideal modes of financing in Islamic finance. But to date, the actual practice of Islamic banking has been far removed from these models. Nearly all Islamic banks, investment companies, and investment funds offer trade and project finance based on mark-up, commissioned manufacturing, or on leasing bases. There is not much difference in substance between IFIs and conventional financial ...

  • The fiqh characterization of ijarah mawsufah fi al-dhimmah_Said_Adekunle.pdf.jpg
  • Journal Article


  • Authors: Sa'id Adekunle Mikail (2013)

  • The application of the Shari'ah principle of ijarah mawsufah fi al-dhimmah (forward lease) can be traced back to the early days of Islam. It is derived from the original contract of ijarah (lease), which has been widely used in the structuring of Islamic financial transactions to cater for various Muslim and non-Muslim needs over time. Thus, the classical books of Islamic jurisprudence have amply discussed its applications in various forms according to the prevailing circumstances. Today, ijarah mawsufah fi al-dhimmah is applied in the offering of various services in the Islamic finance industry relating to education, medical treatment, tourism, hajj and 'umrah, among others. Neverthe...

  • implication_hawalah_Islamic_finance_practice_aishath.pdf.jpg
  • Journal Article


  • Authors: Al Raisi, Al Khansa Sulaiman Dawood; Rodriguez, Imelda; Tustikbayev, Miras; Omarova, Nazerke; Abdul Rahman, Waleeda; Muneeza, Aishath (2016)

  • This article aims at examining the concept of Hawalah and its contemporary applications in banking sector. For this purpose, the authors examine the conceptual and literal meaning of Hawalah and scrutinise its applications in two Malaysian banks. While Bank A is a dual bank which offers both conventional and Islamic banking, Bank B is a full-fledged Islamic bank. Results indicated that there is a general lack of awareness about the concept of Hawalah used by both banks. Although there is strong awareness of Islamic Shariah's strong prohibition on taking interest, the staff members are uninformed about the underlying concepts of Hawalah. In addition, the authors found that the hawalah-...