Publication:
Juristic viewpoints on bay' al-'inah in Malaysia: a survey
| DC Field | Value | |
|---|---|---|
| dc.contributor.author | Rosly, Saiful Azhar | |
| dc.contributor.author | Che Seman, Azizi | |
| dc.date.accessioned | 2017-07-20T03:04:35Z | |
| dc.date.available | 2017-07-20T03:04:35Z | |
| dc.date.issued | 2003 | |
| dc.description.abstract | In Malaysia, Sharicah scholars at the supervisory levels have advocated bay' al-'inah as a mode of finance. Under the label of al-bay', the contract of bay' al-'inah contains interest-bearing features, such as earning a contractual return without the implication of risk and value-addition. Seeking a broader consensus on the permissibility of bay' al-'inah is thus critical. This study shows that Malaysian Sharicah scholars outside the supervisory bodies do not fully support bay' al-'inah. The survey indicates that bay' al-'inah can be applied under a state of darurah or when the maslahah of the Muslim people is under threat, which is not the case in Malaysia. Since Sharicah scholars in Middle-Eastern countries have condemned bay' al-'inah, it is crucial that a diversification policy is pursued to invite greater participation of global Islamic funds in Malaysia. | en_US |
| dc.identifier.citation | Rosly, Saiful Azhar & Che Seman, Azizi. (2003). Juristic viewpoints on bay' al-'inah in Malaysia: a survey. IIUM Journal of Economics and Management, 11 (1), pp. 87-111. | en_US |
| dc.identifier.uri | https://ikr.inceif.edu.my/handle/INCEIF/2589 | |
| dc.language | English | |
| dc.language.iso | en | en_US |
| dc.publisher | International Islamic University Malaysia | en_US |
| dc.rights | 2003. International Islamic University Malaysia | |
| dc.source | SEDONA | |
| dc.subject | Islamic financing | en_US |
| dc.subject | Bay' al-'inah | en_US |
| dc.subject | Riba | en_US |
| dc.title | Juristic viewpoints on bay' al-'inah in Malaysia: a survey | en_US |
| dc.type | Journal Article | en_US |
| dlc.maintopic | Muamalat contracts | |
| dlc.subtopic | Bai al inah | |
| dspace.entity.type | Publication | |
| ikr.doctype | Scholarly Works | |
| ikr.topic.maintopic | Muamalat contracts | en_US |
| ikr.topic.subtopic | Bai al inah | en_US |
| Appears in Collections |