Publication:
Combinations of contracts in Islamic commercial law and its application in Islamic financial services in Malaysia
Abstract
This study examines the concept of combination of contracts in Islamic commercial law and its application in the Malaysian Islamic financial services. Combination of contracts encounters some juridical issues by virtue of the three prohibiting ahadith mentioned by the Prophet (s.a.w.). The ahadith stated that the Prophet (s.a.w.) prohibited combining two sales in one sale, loan and sale, as well as two transactions in one transaction. Many debates have been raised among classical and contemporary Shari'ah scholars regarding the interpretation of these ahadith and the types of contracts that are combinable or non-combinable. Given the fact that these issues remain obfuscated, therefore this study is commenced. In so doing, this study employs two research methodologies; content analysis of Islamic jurisprudence's sources and case studies. The result of the study demonstrates that combination of contracts is generally permitted in Islamic commercial law, as long as there is no Quranic verse or Prophetic tradition that prohibits the combination. Concerning the understanding of three ahadith reported, they must be interpreted within specific context ...
Keywords
Islamic law commercial , Islamic law , Islamic finance , Islamic banking , Malaysia
Citation
Abd. Razak, S. A. (2014). Combinations of contracts in Islamic commercial law and its application in Islamic financial services in Malaysia (Doctoral dissertation). INCEIF, Kuala Lumpur. Retrieved from https://ikr.inceif.org/handle/INCEIF/3178
Publisher
INCEIF
Available in physical copy only (Call Number: t BP 158.6 P1 S525)