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Enhancing the application of musharakah through blockchain

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dc.contributor.authorJin Zichu
dc.contributor.authorIman Najwa Abdul Razak
dc.contributor.authorAishath Muneeza
dc.date.accessioned2018-10-11T01:48:46Z
dc.date.available2018-10-11T01:48:46Z
dc.date.issued2018
dc.description.abstractIslamic 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 institutions as IFIs offer products and services that are only legally Islamic or Shariah compliant. Musharakah for instance is venture capital funding provided by parties and both profit and risk are shared. Such participatory arrangements between capital and labor reflect the Islamic view that the borrower must not bear all the risk/cost of a failure, resulting in a balanced distribution of income and not allowing lender to monopolize the economy.en_US
dc.identifier.citationMuneeza, Aishath and Jin, Zichu and Abdul Razak, Iman Najwa. (2018). Enhancing the application of musharakah through blockchain. Wahed Invest, (July 2018). Retrieved from https://journal.wahedinvest.com/enhancing-the-application-of-musharakah-through-blockchain/en_US
dc.identifier.urihttps://journal.wahedinvest.com/enhancing-the-application-of-musharakah-through-blockchain/
dc.identifier.urihttps://ikr.inceif.org/handle/INCEIF/2958
dc.languageEnglish
dc.language.isoenen_US
dc.publisherWahed Investen_US
dc.rights2018. Wahed Invest
dc.sourceSEDONA
dc.subjectMusharakahen_US
dc.subjectBlockchainen_US
dc.titleEnhancing the application of musharakah through blockchainen_US
dc.typeIndustry Articleen_US
dlc.maintopicMuamalat contracts
dlc.subtopicMusharakah
dspace.entity.typePublication
ikr.doctypeScholarly Works
ikr.topic.maintopicMuamalat contractsen_US
ikr.topic.subtopicMusharakahen_US
relation.isAuthorOfPublication81014255-5cb8-46bc-ad81-bf6d8a3a0702
relation.isAuthorOfPublication81014255-5cb8-46bc-ad81-bf6d8a3a0702
relation.isAuthorOfPublication81014255-5cb8-46bc-ad81-bf6d8a3a0702
relation.isAuthorOfPublication.latestForDiscovery81014255-5cb8-46bc-ad81-bf6d8a3a0702
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