Sales contract of commodity murabahah via tawarruq arrangement in supporting maqasid of shariah in economy
Commodity Murabahah contract via Tawarruq arrangement is a replacement of debatable contract of Bay al ‘Inah where the later involving only to two parties, to which involving the third party in order to obtain cash. Commodity Murabahah via Tawarruq arrangement also play important role in supporting...
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my.utm.1007092023-04-30T08:51:35Z http://eprints.utm.my/id/eprint/100709/ Sales contract of commodity murabahah via tawarruq arrangement in supporting maqasid of shariah in economy Rahmalan, Muhammad Tariq Ramli, Razli HB615-715 Entrepreneurship. Risk and uncertainty. Property Commodity Murabahah contract via Tawarruq arrangement is a replacement of debatable contract of Bay al ‘Inah where the later involving only to two parties, to which involving the third party in order to obtain cash. Commodity Murabahah via Tawarruq arrangement also play important role in supporting the financial and economic activities in Malaysia for depository purposes such as Term Deposit-i thus it generate economic activities and promoting the growth of related commodity. On the other hand, the financing product such as Term Financing-i from Islamic financial institutions is example of fund application or utilization from the Islamic Bank. This product offered to retail customers for their personal need and usage. The cash facility will support the business expansion of Small Medium Enterprise (SME) or small business owner, and grow their business which later will contributing to increase of Zakat’s collection. By offering the Islamic Finance Product, not only it obliges in obeying Allah’s instruction in avoiding riba’ (usury), the applicant also may use for the purpose of better standard of living, improving financial status and avoiding illegal loan shark. Thus, this practice also accordance to the objective of Maqasid Shariah in protecting the life, as well as protecting the wealth. Human Resource Management Academic Research Society 2022 Article PeerReviewed application/pdf en http://eprints.utm.my/id/eprint/100709/1/MuhammadTariqRahmalan2022_SalesContractofCommodityMurabahah.pdf Rahmalan, Muhammad Tariq and Ramli, Razli (2022) Sales contract of commodity murabahah via tawarruq arrangement in supporting maqasid of shariah in economy. International Journal of Academic Research in Economics and Management Sciences, 11 (4). pp. 107-122. ISSN 2226-3624 http://dx.doi.org/10.6007/IJAREMS/v11-i4/15797 DOI: 10.6007/IJAREMS/v11-i4/15797 |
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HB615-715 Entrepreneurship. Risk and uncertainty. Property Rahmalan, Muhammad Tariq Ramli, Razli Sales contract of commodity murabahah via tawarruq arrangement in supporting maqasid of shariah in economy |
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Commodity Murabahah contract via Tawarruq arrangement is a replacement of debatable contract of Bay al ‘Inah where the later involving only to two parties, to which involving the third party in order to obtain cash. Commodity Murabahah via Tawarruq arrangement also play important role in supporting the financial and economic activities in Malaysia for depository purposes such as Term Deposit-i thus it generate economic activities and promoting the growth of related commodity. On the other hand, the financing product such as Term Financing-i from Islamic financial institutions is example of fund application or utilization from the Islamic Bank. This product offered to retail customers for their personal need and usage. The cash facility will support the business expansion of Small Medium Enterprise (SME) or small business owner, and grow their business which later will contributing to increase of Zakat’s collection. By offering the Islamic Finance Product, not only it obliges in obeying Allah’s instruction in avoiding riba’ (usury), the applicant also may use for the purpose of better standard of living, improving financial status and avoiding illegal loan shark. Thus, this practice also accordance to the objective of Maqasid Shariah in protecting the life, as well as protecting the wealth. |
format |
Article |
author |
Rahmalan, Muhammad Tariq Ramli, Razli |
author_facet |
Rahmalan, Muhammad Tariq Ramli, Razli |
author_sort |
Rahmalan, Muhammad Tariq |
title |
Sales contract of commodity murabahah via tawarruq arrangement in supporting maqasid of shariah in economy |
title_short |
Sales contract of commodity murabahah via tawarruq arrangement in supporting maqasid of shariah in economy |
title_full |
Sales contract of commodity murabahah via tawarruq arrangement in supporting maqasid of shariah in economy |
title_fullStr |
Sales contract of commodity murabahah via tawarruq arrangement in supporting maqasid of shariah in economy |
title_full_unstemmed |
Sales contract of commodity murabahah via tawarruq arrangement in supporting maqasid of shariah in economy |
title_sort |
sales contract of commodity murabahah via tawarruq arrangement in supporting maqasid of shariah in economy |
publisher |
Human Resource Management Academic Research Society |
publishDate |
2022 |
url |
http://eprints.utm.my/id/eprint/100709/1/MuhammadTariqRahmalan2022_SalesContractofCommodityMurabahah.pdf http://eprints.utm.my/id/eprint/100709/ http://dx.doi.org/10.6007/IJAREMS/v11-i4/15797 |
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