Enhancing cross border connectivity: venturing into Islamic finance as a new source of infrastructure financing / Saadiah Mohamad … [et al.]
Unlike the traditional Finance, Islamic finance must observe the teachings of Shari’ah whose basic teaching cannot be violated at any point in time. These basic teachings constitute the core element of the faiths that are best described as maqasid al-shari’ah. While prohibiting Riba, Gharar, Maysir,...
| Main Authors: | , , , |
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| Format: | Article |
| Language: | English |
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Universiti Teknologi Mara Selangor
2015
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| Online Access: | https://ir.uitm.edu.my/id/eprint/32782/ |
| _version_ | 1848808112812720128 |
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| author | Mohamad, Saadiah Salah, Omar Mokhtar, Mafrukhin Syed Alwi, Sharifah Faigah |
| author_facet | Mohamad, Saadiah Salah, Omar Mokhtar, Mafrukhin Syed Alwi, Sharifah Faigah |
| author_sort | Mohamad, Saadiah |
| building | UiTM Institutional Repository |
| collection | Online Access |
| description | Unlike the traditional Finance, Islamic finance must observe the teachings of Shari’ah whose basic teaching cannot be violated at any point in time. These basic teachings constitute the core element of the faiths that are best described as maqasid al-shari’ah. While prohibiting Riba, Gharar, Maysir, Islam promotes maslahah by protecting the interests and benefits of all parties involved in the market. This paper emphasizes on the main underlying causes (‘Illah) for the prohibition of these on the basis of Islamic and socio-economic point of views. This is paper is based on secondary sources such as classical books, articles etc. There is no difference of opinion among scholars that Riba, Gharar, Maysir is clearly prohibited by both Quran and the Sunnah. However, Questions continue to be raised about their meanings and implications because of the diverse applications in commercial transactions (Mu’malat). This paper is a humble attempt to clarify the meaning and implications of these terms. |
| first_indexed | 2025-11-14T22:53:33Z |
| format | Article |
| id | uitm-32782 |
| institution | Universiti Teknologi MARA |
| institution_category | Local University |
| language | English |
| last_indexed | 2025-11-14T22:53:33Z |
| publishDate | 2015 |
| publisher | Universiti Teknologi Mara Selangor |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | uitm-327822020-07-27T01:28:10Z https://ir.uitm.edu.my/id/eprint/32782/ Enhancing cross border connectivity: venturing into Islamic finance as a new source of infrastructure financing / Saadiah Mohamad … [et al.] jeeir Mohamad, Saadiah Salah, Omar Mokhtar, Mafrukhin Syed Alwi, Sharifah Faigah HG Finance HJ Public Finance Finance, Islamic Unlike the traditional Finance, Islamic finance must observe the teachings of Shari’ah whose basic teaching cannot be violated at any point in time. These basic teachings constitute the core element of the faiths that are best described as maqasid al-shari’ah. While prohibiting Riba, Gharar, Maysir, Islam promotes maslahah by protecting the interests and benefits of all parties involved in the market. This paper emphasizes on the main underlying causes (‘Illah) for the prohibition of these on the basis of Islamic and socio-economic point of views. This is paper is based on secondary sources such as classical books, articles etc. There is no difference of opinion among scholars that Riba, Gharar, Maysir is clearly prohibited by both Quran and the Sunnah. However, Questions continue to be raised about their meanings and implications because of the diverse applications in commercial transactions (Mu’malat). This paper is a humble attempt to clarify the meaning and implications of these terms. Universiti Teknologi Mara Selangor 2015-09 Article PeerReviewed text en https://ir.uitm.edu.my/id/eprint/32782/1/32782.pdf Mohamad, Saadiah and Salah, Omar and Mokhtar, Mafrukhin and Syed Alwi, Sharifah Faigah (2015) Enhancing cross border connectivity: venturing into Islamic finance as a new source of infrastructure financing / Saadiah Mohamad … [et al.]. (2015) Journal of Emerging Economies and Islamic Research (JEEIR) <https://ir.uitm.edu.my/view/publication/Journal_of_Emerging_Economies_and_Islamic_Research_=28JEEIR=29.html>, 3 (3). pp. 1-14. ISSN 2289-2559 https://journal.uitm.edu.my/ojs/index.php/JEEIR/ |
| spellingShingle | HG Finance HJ Public Finance Finance, Islamic Mohamad, Saadiah Salah, Omar Mokhtar, Mafrukhin Syed Alwi, Sharifah Faigah Enhancing cross border connectivity: venturing into Islamic finance as a new source of infrastructure financing / Saadiah Mohamad … [et al.] |
| title | Enhancing cross border connectivity: venturing into Islamic finance as a new source of infrastructure financing / Saadiah Mohamad … [et al.] |
| title_full | Enhancing cross border connectivity: venturing into Islamic finance as a new source of infrastructure financing / Saadiah Mohamad … [et al.] |
| title_fullStr | Enhancing cross border connectivity: venturing into Islamic finance as a new source of infrastructure financing / Saadiah Mohamad … [et al.] |
| title_full_unstemmed | Enhancing cross border connectivity: venturing into Islamic finance as a new source of infrastructure financing / Saadiah Mohamad … [et al.] |
| title_short | Enhancing cross border connectivity: venturing into Islamic finance as a new source of infrastructure financing / Saadiah Mohamad … [et al.] |
| title_sort | enhancing cross border connectivity: venturing into islamic finance as a new source of infrastructure financing / saadiah mohamad … [et al.] |
| topic | HG Finance HJ Public Finance Finance, Islamic |
| url | https://ir.uitm.edu.my/id/eprint/32782/ https://ir.uitm.edu.my/id/eprint/32782/ |