Shariah issues on selected hybrid products practiced by Islamic banks
This article examines the Shariah aspects of certain hybrid products practiced by Islamic banks in Malaysia and provides a comprehensive analysis of the Shariah principles governing the implementation of these hybrid contracts. Among the hybrid contracts, bayʽ bithaman ajil (BBA) and tawarruq have r...
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Human Resource Management Academic Research Society
2023
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Online Access: | http://irep.iium.edu.my/111727/7/111727_Shariah%20issues%20on%20selected%20hybrid%20products.pdf http://irep.iium.edu.my/111727/ https://hrmars.com/index.php/IJARPED/article/view/19387/Shariah-Issues-on-Selected-Hybrid-Products-Practiced-by-Islamic-Banks |
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my.iium.irep.1117272024-04-04T02:26:02Z http://irep.iium.edu.my/111727/ Shariah issues on selected hybrid products practiced by Islamic banks Mohd Yunus, Saidatolakma Mahadi, Nur Farhah Mahmad Robbi, Ahmad Akram Embong, Rahimah BPH Islamic Economics BPK Islamic law. Shari'ah. Fiqh This article examines the Shariah aspects of certain hybrid products practiced by Islamic banks in Malaysia and provides a comprehensive analysis of the Shariah principles governing the implementation of these hybrid contracts. Among the hybrid contracts, bayʽ bithaman ajil (BBA) and tawarruq have raised concerns due to their potential for facilitating interest (ribā) in buying and selling transactions. On the other hand, other hybrid contracts like mushārakah mutanāqiṣah and murābaḥah to the purchase order are deemed less controversial. When applying these contracts, adherence to important Shariah principles is crucial, including the permissibility of individual contracts, independence of contracts, absence of contradictory commitments, and avoidance of any form of ribā. This study has significant implications for Islamic banking and finance institutions, as well as the Muslim community at large, by promoting the development and provision of Sharia-compliant products and enhancing confidence in their dealings with these institutions. Human Resource Management Academic Research Society 2023-09-20 Article PeerReviewed application/pdf en http://irep.iium.edu.my/111727/7/111727_Shariah%20issues%20on%20selected%20hybrid%20products.pdf Mohd Yunus, Saidatolakma and Mahadi, Nur Farhah and Mahmad Robbi, Ahmad Akram and Embong, Rahimah (2023) Shariah issues on selected hybrid products practiced by Islamic banks. International Journal of Academic Research in Progressive Education and Development, 12 (3). pp. 2510-2522. E-ISSN 2226-6348 https://hrmars.com/index.php/IJARPED/article/view/19387/Shariah-Issues-on-Selected-Hybrid-Products-Practiced-by-Islamic-Banks 10.6007/IJARPED/v12-i3/19387 |
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BPH Islamic Economics BPK Islamic law. Shari'ah. Fiqh |
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BPH Islamic Economics BPK Islamic law. Shari'ah. Fiqh Mohd Yunus, Saidatolakma Mahadi, Nur Farhah Mahmad Robbi, Ahmad Akram Embong, Rahimah Shariah issues on selected hybrid products practiced by Islamic banks |
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This article examines the Shariah aspects of certain hybrid products practiced by Islamic banks in Malaysia and provides a comprehensive analysis of the Shariah principles governing the implementation of these hybrid contracts. Among the hybrid contracts, bayʽ bithaman ajil (BBA) and tawarruq have raised concerns due to their potential for facilitating interest (ribā) in buying and selling transactions. On the other hand, other hybrid contracts like mushārakah mutanāqiṣah and murābaḥah to the purchase order are deemed less controversial. When applying
these contracts, adherence to important Shariah principles is crucial, including the permissibility of individual contracts, independence of contracts, absence of contradictory commitments, and avoidance of any form of ribā. This study has significant implications for Islamic banking and finance institutions, as well as the Muslim community at large, by promoting the development and provision of Sharia-compliant products and enhancing confidence in their dealings with these institutions. |
format |
Article |
author |
Mohd Yunus, Saidatolakma Mahadi, Nur Farhah Mahmad Robbi, Ahmad Akram Embong, Rahimah |
author_facet |
Mohd Yunus, Saidatolakma Mahadi, Nur Farhah Mahmad Robbi, Ahmad Akram Embong, Rahimah |
author_sort |
Mohd Yunus, Saidatolakma |
title |
Shariah issues on selected hybrid products practiced by Islamic banks |
title_short |
Shariah issues on selected hybrid products practiced by Islamic banks |
title_full |
Shariah issues on selected hybrid products practiced by Islamic banks |
title_fullStr |
Shariah issues on selected hybrid products practiced by Islamic banks |
title_full_unstemmed |
Shariah issues on selected hybrid products practiced by Islamic banks |
title_sort |
shariah issues on selected hybrid products practiced by islamic banks |
publisher |
Human Resource Management Academic Research Society |
publishDate |
2023 |
url |
http://irep.iium.edu.my/111727/7/111727_Shariah%20issues%20on%20selected%20hybrid%20products.pdf http://irep.iium.edu.my/111727/ https://hrmars.com/index.php/IJARPED/article/view/19387/Shariah-Issues-on-Selected-Hybrid-Products-Practiced-by-Islamic-Banks |
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