Modern applications of profit-sale (bay murabahah) from a maqasid Shari' ah perspective
This paper looks into profit-sale (murābaḥah), a nominal sale contract in Islam, in search for Sharīʿah objectives embedded in the corpus according to the terms and conditions of the contract. In light of these objectives, applications of the profit-sale contract as a financing tool...
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| Format: | Article |
| Language: | English English English |
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IIUM Press, International Islamic University Malaysia
2019
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| Online Access: | http://irep.iium.edu.my/79435/ http://irep.iium.edu.my/79435/13/79435_MODERN%20APPLICATIONS%20OF%20PROFIT-SALE%20_article_new.pdf http://irep.iium.edu.my/79435/2/79435_MODERN%20APPLICATIONS%20OF%20PROFIT-SALE%20_wos.pdf http://irep.iium.edu.my/79435/19/79435_Modern%20applications%20of%20profit-sale_scopus.pdf |
| _version_ | 1848788770939207680 |
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| author | al-Fijawi, Mohammed Farid Ali Mohd Yunus, Saidatolakma |
| author_facet | al-Fijawi, Mohammed Farid Ali Mohd Yunus, Saidatolakma |
| author_sort | al-Fijawi, Mohammed Farid Ali |
| building | IIUM Repository |
| collection | Online Access |
| description | This paper looks into profit-sale (murābaḥah), a nominal sale contract in Islam, in search for Sharīʿah objectives embedded in the corpus according to the terms and conditions of the contract. In light of these objectives, applications of the profit-sale contract as a financing tool by Islamic Finance Institutions (IFIs) are examined. The study discovers that some modern applications bypass the primary Sharīʿah objectives of a sale contract, such as the seller taking liability for possible risks and having real possession of the items on sale. Contrary to this, the seller transfers his liability to the customer and takes possession (qabḍ) of the goods on paper only instead of possession in the real sense. Such applications distort the mode of trading real goods into a mere disguise for an increase in credit or riba. |
| first_indexed | 2025-11-14T17:46:07Z |
| format | Article |
| id | iium-79435 |
| institution | International Islamic University Malaysia |
| institution_category | Local University |
| language | English English English |
| last_indexed | 2025-11-14T17:46:07Z |
| publishDate | 2019 |
| publisher | IIUM Press, International Islamic University Malaysia |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | iium-794352020-04-14T16:14:07Z http://irep.iium.edu.my/79435/ Modern applications of profit-sale (bay murabahah) from a maqasid Shari' ah perspective al-Fijawi, Mohammed Farid Ali Mohd Yunus, Saidatolakma BP Islam. Bahaism. Theosophy, etc This paper looks into profit-sale (murābaḥah), a nominal sale contract in Islam, in search for Sharīʿah objectives embedded in the corpus according to the terms and conditions of the contract. In light of these objectives, applications of the profit-sale contract as a financing tool by Islamic Finance Institutions (IFIs) are examined. The study discovers that some modern applications bypass the primary Sharīʿah objectives of a sale contract, such as the seller taking liability for possible risks and having real possession of the items on sale. Contrary to this, the seller transfers his liability to the customer and takes possession (qabḍ) of the goods on paper only instead of possession in the real sense. Such applications distort the mode of trading real goods into a mere disguise for an increase in credit or riba. IIUM Press, International Islamic University Malaysia 2019 Article PeerReviewed application/pdf en http://irep.iium.edu.my/79435/13/79435_MODERN%20APPLICATIONS%20OF%20PROFIT-SALE%20_article_new.pdf application/pdf en http://irep.iium.edu.my/79435/2/79435_MODERN%20APPLICATIONS%20OF%20PROFIT-SALE%20_wos.pdf application/pdf en http://irep.iium.edu.my/79435/19/79435_Modern%20applications%20of%20profit-sale_scopus.pdf al-Fijawi, Mohammed Farid Ali and Mohd Yunus, Saidatolakma (2019) Modern applications of profit-sale (bay murabahah) from a maqasid Shari' ah perspective. Al-Shajarah, 24 (1). pp. 49-66. ISSN 1394-6870 https://journals.iium.edu.my/shajarah/index.php/shaj/article/view/853/374 |
| spellingShingle | BP Islam. Bahaism. Theosophy, etc al-Fijawi, Mohammed Farid Ali Mohd Yunus, Saidatolakma Modern applications of profit-sale (bay murabahah) from a maqasid Shari' ah perspective |
| title | Modern applications of profit-sale (bay murabahah) from a maqasid Shari' ah perspective |
| title_full | Modern applications of profit-sale (bay murabahah) from a maqasid Shari' ah perspective |
| title_fullStr | Modern applications of profit-sale (bay murabahah) from a maqasid Shari' ah perspective |
| title_full_unstemmed | Modern applications of profit-sale (bay murabahah) from a maqasid Shari' ah perspective |
| title_short | Modern applications of profit-sale (bay murabahah) from a maqasid Shari' ah perspective |
| title_sort | modern applications of profit-sale (bay murabahah) from a maqasid shari' ah perspective |
| topic | BP Islam. Bahaism. Theosophy, etc |
| url | http://irep.iium.edu.my/79435/ http://irep.iium.edu.my/79435/ http://irep.iium.edu.my/79435/13/79435_MODERN%20APPLICATIONS%20OF%20PROFIT-SALE%20_article_new.pdf http://irep.iium.edu.my/79435/2/79435_MODERN%20APPLICATIONS%20OF%20PROFIT-SALE%20_wos.pdf http://irep.iium.edu.my/79435/19/79435_Modern%20applications%20of%20profit-sale_scopus.pdf |