Browsing by Topic Muamalat contracts

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  • shariah_perspective_letter_credit_contemporary_banking_transactions_ahcene.pdf.jpg
  • Journal Article


  • Authors: Lahsasna, Ahcene; Jaghim, Nu'man (2009)

  • This article deals with the definition, types, benefits in international trade, legality, and steps of initiating and executing Letter of Credit (LC). It discusses the questions raised about the conformity of some types of LC with the principles and criteria of Islamic law and the way to address issues related to its illegality. The article surveys the applications of LC in Islamic banks, which are based on the contracts of murabahah, mudarabah, musharakah and wakalah. It was concluded that LC can be legal in Islamic law as long as it does not involve both form and spirit credit based on usury/interest, but a financing based on real murabahah, mudarabah, musharakah and wakalah.

  • Theoretical_impact_of_enhanced_musharakah_mutanaqisah_home_financing_Alam_Mansor.pdf.jpg
  • Journal Article


  • Authors: Asadov, Alam; Ibrahim, Mansor H. (2018)

  • This paper theoretically analyzes two alternative modes of home financing. The first mode is the conventional housing loan and the other is Enhanced Musharakah Mutanaqisah (EMM) home financing. Our results reveal the EMM based setting is superior to the conventional housing loans in at least two aspects. These are the prevention of house price inflation in all phases of economic business cycle and the smoothening of real estate cycles. This means that, under the EMM, the risk of real estate bubble formation is subdued, which should prove to be welfare improving.

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 29 to 30 of 30
  • shariah_perspective_letter_credit_contemporary_banking_transactions_ahcene.pdf.jpg
  • Journal Article


  • Authors: Lahsasna, Ahcene; Jaghim, Nu'man (2009)

  • This article deals with the definition, types, benefits in international trade, legality, and steps of initiating and executing Letter of Credit (LC). It discusses the questions raised about the conformity of some types of LC with the principles and criteria of Islamic law and the way to address issues related to its illegality. The article surveys the applications of LC in Islamic banks, which are based on the contracts of murabahah, mudarabah, musharakah and wakalah. It was concluded that LC can be legal in Islamic law as long as it does not involve both form and spirit credit based on usury/interest, but a financing based on real murabahah, mudarabah, musharakah and wakalah.

  • Theoretical_impact_of_enhanced_musharakah_mutanaqisah_home_financing_Alam_Mansor.pdf.jpg
  • Journal Article


  • Authors: Asadov, Alam; Ibrahim, Mansor H. (2018)

  • This paper theoretically analyzes two alternative modes of home financing. The first mode is the conventional housing loan and the other is Enhanced Musharakah Mutanaqisah (EMM) home financing. Our results reveal the EMM based setting is superior to the conventional housing loans in at least two aspects. These are the prevention of house price inflation in all phases of economic business cycle and the smoothening of real estate cycles. This means that, under the EMM, the risk of real estate bubble formation is subdued, which should prove to be welfare improving.