On the question of gambling in giving prizes to the holders of savings certificates: an Islamic analysis on Malaysian practice
The focal point of this paper is to analyze the issue of gambling in the practice of prize-giving to the selected holders of Premium savings Certificate (PSC), a product offered by Bank Saimpanan Nasional (BSN), the national savings bank of Malaysia. The paper attempts to provide the Islamic juristi...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
Institute of Interdisciplinary Business Research
2010
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| Subjects: | |
| Online Access: | http://irep.iium.edu.my/6862/ http://irep.iium.edu.my/6862/4/On_The_Question_of_Gambling_in_Giving_Prizes_to_the_Holders_of_Savings.pdf |
| _version_ | 1848776741767610368 |
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| author | Md. Sawari, Mohd. Fuad Hassan, Razi Abdullah, Faruk |
| author_facet | Md. Sawari, Mohd. Fuad Hassan, Razi Abdullah, Faruk |
| author_sort | Md. Sawari, Mohd. Fuad |
| building | IIUM Repository |
| collection | Online Access |
| description | The focal point of this paper is to analyze the issue of gambling in the practice of prize-giving to the selected holders of Premium savings Certificate (PSC), a product offered by Bank Saimpanan Nasional (BSN), the national savings bank of Malaysia. The paper attempts to provide the Islamic juristic decision on this issue. The paper finds that based on the analogical reasoning of the Shari ah, PSC has different characteristics from gambling. Moreover, a number of fatwa issued by the scholars from Malaysia affirm that, there is no existence of gambling in PSC. The paper adopts descriptive and analytical methods. It relies on the classical and contemporary Arabic literatures as well the Malay and English literatures. Furthermore, interview method is used, in order to obtain first hand information. Understanding the Shari ah ruling pertaining to the gambling issue of PSC has a great impact on the Muslim community to decide whether they will purchase this product or reject it. The paper would be a refereed literature to understand the Shari ah appraisal of giving prizes to the holders of savings certificates. The study is limited to the gambling issue and recommends further study on the
underlying contract and the field of investment of PSC. |
| first_indexed | 2025-11-14T14:34:55Z |
| format | Article |
| id | iium-6862 |
| institution | International Islamic University Malaysia |
| institution_category | Local University |
| language | English |
| last_indexed | 2025-11-14T14:34:55Z |
| publishDate | 2010 |
| publisher | Institute of Interdisciplinary Business Research |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | iium-68622012-02-01T03:05:27Z http://irep.iium.edu.my/6862/ On the question of gambling in giving prizes to the holders of savings certificates: an Islamic analysis on Malaysian practice Md. Sawari, Mohd. Fuad Hassan, Razi Abdullah, Faruk BP140 Islamic law (Fiqh) HG1501 Banking KBP1 Islamic law.Shariah.Fiqh The focal point of this paper is to analyze the issue of gambling in the practice of prize-giving to the selected holders of Premium savings Certificate (PSC), a product offered by Bank Saimpanan Nasional (BSN), the national savings bank of Malaysia. The paper attempts to provide the Islamic juristic decision on this issue. The paper finds that based on the analogical reasoning of the Shari ah, PSC has different characteristics from gambling. Moreover, a number of fatwa issued by the scholars from Malaysia affirm that, there is no existence of gambling in PSC. The paper adopts descriptive and analytical methods. It relies on the classical and contemporary Arabic literatures as well the Malay and English literatures. Furthermore, interview method is used, in order to obtain first hand information. Understanding the Shari ah ruling pertaining to the gambling issue of PSC has a great impact on the Muslim community to decide whether they will purchase this product or reject it. The paper would be a refereed literature to understand the Shari ah appraisal of giving prizes to the holders of savings certificates. The study is limited to the gambling issue and recommends further study on the underlying contract and the field of investment of PSC. Institute of Interdisciplinary Business Research 2010-09 Article PeerReviewed application/pdf en http://irep.iium.edu.my/6862/4/On_The_Question_of_Gambling_in_Giving_Prizes_to_the_Holders_of_Savings.pdf Md. Sawari, Mohd. Fuad and Hassan, Razi and Abdullah, Faruk (2010) On the question of gambling in giving prizes to the holders of savings certificates: an Islamic analysis on Malaysian practice. Interdisciplinary Journal of Contemporary Research in Business, 2 (5). pp. 560-573. ISSN 2073-7122 http://www.ijcrb.webs.com |
| spellingShingle | BP140 Islamic law (Fiqh) HG1501 Banking KBP1 Islamic law.Shariah.Fiqh Md. Sawari, Mohd. Fuad Hassan, Razi Abdullah, Faruk On the question of gambling in giving prizes to the holders of savings certificates: an Islamic analysis on Malaysian practice |
| title | On the question of gambling in giving prizes to the holders of savings certificates: an Islamic analysis on Malaysian practice
|
| title_full | On the question of gambling in giving prizes to the holders of savings certificates: an Islamic analysis on Malaysian practice
|
| title_fullStr | On the question of gambling in giving prizes to the holders of savings certificates: an Islamic analysis on Malaysian practice
|
| title_full_unstemmed | On the question of gambling in giving prizes to the holders of savings certificates: an Islamic analysis on Malaysian practice
|
| title_short | On the question of gambling in giving prizes to the holders of savings certificates: an Islamic analysis on Malaysian practice
|
| title_sort | on the question of gambling in giving prizes to the holders of savings certificates: an islamic analysis on malaysian practice |
| topic | BP140 Islamic law (Fiqh) HG1501 Banking KBP1 Islamic law.Shariah.Fiqh |
| url | http://irep.iium.edu.my/6862/ http://irep.iium.edu.my/6862/ http://irep.iium.edu.my/6862/4/On_The_Question_of_Gambling_in_Giving_Prizes_to_the_Holders_of_Savings.pdf |