Publication:
A fiqhi analysis of tradability of Islamic securities based on al-khaltah: the cases of shares, sukuk and units of funds
Abstract
Due to the fact that Islamic financial securities may consist of ribawi (cash and debt) underlying assets, it is crucially important to discern whether or not the trading of these securities is subject to the Shari'ah rules for bay' al-sarf and bay' al-dayn. If they do not then what criterion is pertinent to their secondary trading; and on what jurisprudential basis? In answer to that question, the current scholarly views and suggested Shari'ah criteria for tradability of Islamic securities are not only diverse, but also at times incongruous with one another. Based on the qualitative approach of text analysis and semi-structured-interviews, this study critically analyse this issue ...
Keywords
Sale contract , Sukuk , Islamic investment fund , Khaltah , Islamic securities
Citation
Habib, F. (2016). A fiqhi analysis of tradability of Islamic securities based on al-khaltah: the cases of shares, sukuk and units of funds (Doctoral dissertation). INCEIF, Kuala Lumpur. Retrieved from https://ikr.inceif.org/handle/INCEIF/2409
Publisher
INCEIF
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