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Tawarruq as a product for financing within the Islamic banking system: a case study of Malaysian Islamic banking system

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dc.contributor.authorEllida Fauziah Ahmad
dc.contributor.authorMariyam Shihama
dc.contributor.authorNurSulaim Ashikin Mohamad Tarmizi
dc.contributor.authorSaidu Mudi Jibril
dc.contributor.authorSamia Ibrahim Djama
dc.contributor.authorAishath Muneeza
dc.date.accessioned2017-03-29T06:19:25Z
dc.date.available2017-03-29T06:19:25Z
dc.date.issued2017
dc.description.abstractMany discussions and studies have taken place regarding the permissibility of Tawarruq and 'Inah transactions. While Tawarruq is widely used in Malaysia and around the globe 'Inah has been declined by many Islamic banks operating in many jurisdictions. The purpose of this paper is to study the application of Tawarruq in the Malaysian Islamic banking system. For this purpose the paper will discuss the permissibility of Tawarruq transactions from viewpoint of classical and contemporary scholars and its application in other countries. The methodology used to conduct the study was qualitative; hence the data was collected from various documents and studies conducted by scholars. For this purpose a comprehensive study on Tawarruq was extracted from the Bank Negara guidelines and other various publications was made. The outcome of this research revealed that there are contradictory views on the usage of Tawarruq. While some jurists standby the view of its permissibility, others view it as an invalid product of Islamic banking. Furthermore, it was shown that limited studies have been conducted on the practice of Tawarruq in various Islamic financial Institutions and limited data was seen from the financial reports of the banks indicating the amount of Tawarruq usage.en_US
dc.identifier.citationAhmad, E. F., Shihama, M., Mohamad Tarmizi, N. A., Jibril, S. M., Djama, S. I., & Muneeza, A. (2017). Tawarruq as a product for financing within the Islamic banking system: a case study of Malaysian Islamic banking system. International Journal of Management and Applied Research, 4(1), pp. 31-43.en_US
dc.identifier.doihttps://doi.org/10.18646/2056.41.17-004
dc.identifier.issn2056-757X
dc.identifier.urihttps://ikr.inceif.edu.my/handle/INCEIF/2289
dc.languageEnglish
dc.language.isoengen_US
dc.publisherNew Millennium Discoveriesen_US
dc.rights2017. New Millenium Discoveries
dc.sourceSEDONA
dc.subjectBursa suq al-silaen_US
dc.subject'Inahen_US
dc.subjectLiquidity managementen_US
dc.subjectShariah complianceen_US
dc.subjectIslamic bankingen_US
dc.subjectIslamic financeen_US
dc.subjectTawarruqen_US
dc.titleTawarruq as a product for financing within the Islamic banking system: a case study of Malaysian Islamic banking systemen_US
dc.typeJournal Articleen_US
dlc.maintopicIslamic banking
dlc.subtopicProducts and services of Islamic banking
dspace.entity.typePublication
ikr.doctypeScholarly Works
ikr.topic.maintopicIslamic bankingen_US
ikr.topic.subtopicIslamic bankingen_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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