Development of the classical Islamic guarantee through fatwa in modern Islamic banking

• Main Author: Ab Rahman, Suhaimi
• Format: Article
• Language: English
• Published: Faculty of Economics and Business, Universiti Malaysia Sarawak 2018
• Online Access: http://psasir.upm.edu.my/id/eprint/72273/1/Development%20of%20the%20classical%20Islamic%20.pdf; http://psasir.upm.edu.my/id/eprint/72273/; http://www.ijbs.unimas.my/index.php/volume-11-20/volume-19-s3-2018/493-development-of-the-classical-islamic-guarantee-through-fatwa-in-modern-islamic-banking

It was circa 749-1850 of the Islamic era that sophisticated rules and principles including the guarantees were developed. This paper is to clarify the application of the classical Islamic law of guarantee, kafalah, in modern banking. Important legal texts that include the Qur’an, the Sunnah of the p...