Application of Tawarruq munazzam in Malaysia / Ismail Rustam
Nowadays, the development of Islamic Financial Institutions has given positive impact towards Islamic bank industry. Many new contracts have been introduced as an alternative to conventional bank products. Tawarruq munazzam or known as commodity murabahah is one of the contracts. In this study, the...
| Main Author: | |
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| Format: | Student Project |
| Language: | English |
| Published: |
Universiti Teknologi MARA, Selangor, Puncak Alam Campus
2018
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| Subjects: | |
| Online Access: | https://ir.uitm.edu.my/id/eprint/23351/ |
| _version_ | 1848805724236283904 |
|---|---|
| author | Rustam, Ismail |
| author_facet | Rustam, Ismail |
| author_sort | Rustam, Ismail |
| building | UiTM Institutional Repository |
| collection | Online Access |
| description | Nowadays, the development of Islamic Financial Institutions has given positive impact towards Islamic bank industry. Many new contracts have been introduced as
an alternative to conventional bank products. Tawarruq munazzam or known as commodity murabahah is one of the contracts. In this study, the author has set several
objectives which are to explain the concept of tawarruq munazzam, discussing the fuqaha’s opinions on this contract and explain the modus operandi of tawarruq
munazzam implements in Malaysia. The study founds that tawarruq munazzam is a contract that practice by Islamic bank to provide financing towards customers. The
practice of this contract is contrary to the conventional bank’s financing products. This is because the features of both contracts are different. In fact, tawarruq munazzam is a contract based on the trading transaction, meanwhile, the financing product offered by conventional banks is based on loans which containing riba. Majority of contemporary fuqaha permit the practice of tawarruq munazzam based on their ijtihad to provide maslahah among the society. Meanwhile, there are also fuqaha who prohibited this practice because it seems like a hilah to permit riba. Lastly, an Every Islamic bank in Malaysia is using a platform such as as-Sidq, London Metal Exchange, and Bursa Suq al-Sila to trade the commodity while practicing tawarruq
munazzam. |
| first_indexed | 2025-11-14T22:15:35Z |
| format | Student Project |
| id | uitm-23351 |
| institution | Universiti Teknologi MARA |
| institution_category | Local University |
| language | English |
| last_indexed | 2025-11-14T22:15:35Z |
| publishDate | 2018 |
| publisher | Universiti Teknologi MARA, Selangor, Puncak Alam Campus |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | uitm-233512019-03-04T09:00:32Z https://ir.uitm.edu.my/id/eprint/23351/ Application of Tawarruq munazzam in Malaysia / Ismail Rustam Rustam, Ismail Bank loans. Bank credit. Commercial loans Finance, Islamic Nowadays, the development of Islamic Financial Institutions has given positive impact towards Islamic bank industry. Many new contracts have been introduced as an alternative to conventional bank products. Tawarruq munazzam or known as commodity murabahah is one of the contracts. In this study, the author has set several objectives which are to explain the concept of tawarruq munazzam, discussing the fuqaha’s opinions on this contract and explain the modus operandi of tawarruq munazzam implements in Malaysia. The study founds that tawarruq munazzam is a contract that practice by Islamic bank to provide financing towards customers. The practice of this contract is contrary to the conventional bank’s financing products. This is because the features of both contracts are different. In fact, tawarruq munazzam is a contract based on the trading transaction, meanwhile, the financing product offered by conventional banks is based on loans which containing riba. Majority of contemporary fuqaha permit the practice of tawarruq munazzam based on their ijtihad to provide maslahah among the society. Meanwhile, there are also fuqaha who prohibited this practice because it seems like a hilah to permit riba. Lastly, an Every Islamic bank in Malaysia is using a platform such as as-Sidq, London Metal Exchange, and Bursa Suq al-Sila to trade the commodity while practicing tawarruq munazzam. Universiti Teknologi MARA, Selangor, Puncak Alam Campus 2018 Student Project NonPeerReviewed text en https://ir.uitm.edu.my/id/eprint/23351/1/PPb_ISMAIL%20RUSTAM%20ACI%20B%2018_5.pdf Rustam, Ismail (2018) Application of Tawarruq munazzam in Malaysia / Ismail Rustam. (2018) [Student Project] <http://terminalib.uitm.edu.my/23351.pdf> (Unpublished) |
| spellingShingle | Bank loans. Bank credit. Commercial loans Finance, Islamic Rustam, Ismail Application of Tawarruq munazzam in Malaysia / Ismail Rustam |
| title | Application of Tawarruq munazzam in Malaysia / Ismail Rustam |
| title_full | Application of Tawarruq munazzam in Malaysia / Ismail Rustam |
| title_fullStr | Application of Tawarruq munazzam in Malaysia / Ismail Rustam |
| title_full_unstemmed | Application of Tawarruq munazzam in Malaysia / Ismail Rustam |
| title_short | Application of Tawarruq munazzam in Malaysia / Ismail Rustam |
| title_sort | application of tawarruq munazzam in malaysia / ismail rustam |
| topic | Bank loans. Bank credit. Commercial loans Finance, Islamic |
| url | https://ir.uitm.edu.my/id/eprint/23351/ |