An introduction to the theoretical foundations of Islamic transactions

• Main Author: Saleem, Muhammad Yusuf
• Format: Conference or Workshop Item
• Language: English
• Published: 2010
• Subjects: HG Finance
• Online Access: http://irep.iium.edu.my/22671/1/P-216_-_P-220.pdf; http://irep.iium.edu.my/22671/

This book presents a study of the theoretical foundations for Islamic transactions. It provides the reader with a solid background which is essential for a comprehensive knowledge of Islamic transactions, banking and finance. The main discussions include the sources for Islamic commercial and financial laws, the objectives of Shari’ah with regard to commercial and financial transactions, property and its classifications and their implications for transactions, rights and financial rights, ownership and its types, the theory of contract, the pillars of contract, its classifications, and its options. The last chapter discusses factors that invalidate transactions such as usury/interest (riba), ambiguity (gharar), gambling (maysir), and the involvement of prohibited properties. The book is an important text not only for the students but also for all those who work in Islamic banks and financial institutions.