al-Wakalah bi al-istithmar in Malaysian Islamic financial institutions : a critical analysis from fiqhi perspective /cby Amnisuhailah Binti Abarahan
Al-wakālah bi al-istithmār is one of the recent instruments introduced in the Islamic banking industry, particularly under deposit-taking products. This research is aimed at examining al-wakālah bi al-istithmār and its operation as a Sharīah compliant deposit-taking product as applied by Islamic Fin...
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| Main Author: | |
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| Format: | Thesis |
| Language: | English |
| Published: |
Kuala Lumpur :
Kulliyyah of Islamic Revealed Knowledge and Heritage, International Islamic University Malaysia,
2013
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| Subjects: | |
| Online Access: | Click here to view 1st 24 pages of the thesis. Members can view fulltext at the specified PCs in the library. |
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| 008 | 130723n2013 my a g m 000 0 eng u | ||
| 040 | |a UIAM |b eng | ||
| 050 | 0 | 0 | |a HG4534 |
| 100 | 0 | |a Amnisuhailah binti Abarahan | |
| 245 | 1 | |a al-Wakalah bi al-istithmar in Malaysian Islamic financial institutions : |b a critical analysis from fiqhi perspective /cby Amnisuhailah Binti Abarahan | |
| 260 | |a Kuala Lumpur : |b Kulliyyah of Islamic Revealed Knowledge and Heritage, International Islamic University Malaysia, |c 2013 | ||
| 300 | |a xi, 155 leaves : |b ill. ; |c 30 cm. | ||
| 502 | |a Thesis (MAIRKFQ) -- International Islamic University Malaysia, 2013. | ||
| 504 | |a Includes bibliographical references (leaves 115 -122). | ||
| 520 | |a Al-wakālah bi al-istithmār is one of the recent instruments introduced in the Islamic banking industry, particularly under deposit-taking products. This research is aimed at examining al-wakālah bi al-istithmār and its operation as a Sharīah compliant deposit-taking product as applied by Islamic Financial Institutions in Malaysia from the Fiqhī perspective. The main features and fiqh issues of al-wakālah bi al-istithmār is highlighted and analysed. This is a qualitative based research where related data and information are taken from various related literatures, conducted interviews with financial officers as well as official documents of respective financial institutions. This thesis also evaluates the privileges as well as shortcomings of this instrument compared to other products such as qari, wadīah and mudārabah. The comparison is indeed crucial so as to know the sustainability of this instrument. Polemical issues, in the case of early withdrawal for example, are also discussed to find considerable solutions where possible so that the instrument serves its compliancy in the field. This research also includes the investigation of al-wakālah bi al-istithmār in terms of its flexibility and consistency in its application at Al Rajhi Bank, Public Islamic Bank and AmIslamic Bank in Malaysia, where similarities of application such as in profit equalisation reserve, and slight differences in terms of remuneration are apparent. The viability and future prospects of al-wakālah bi al-istithmār as an alternative instrument such as that in sukūk, takāful as well as Islamic unit trusts are also addressed. The finding of this research shows that the element of remuneration, as studied in the three financial institutions, constitutes a very important initial role in the contract of wakālah bi al-istithmār. It is the state of bindingness or non-bindingness of the contract that will later result to subsequent effects in the deposit-taking product. It is also found that wakālah bi al-istithmār has a lot of resemblance with mudārabah but significantly, wakālah bi al-istithmār is able to eliminate the controversial issue associated with reserves. The principle of wakālah bi al-istithmār is potentially viable, however it still requires further research and development to ensure that future alternative products based on this principle will always be in accordance with the requirements of the Sharīah. | ||
| 596 | |a 1 | ||
| 655 | 7 | |a Theses, IIUM local | |
| 690 | |a Dissertations, Academic |x Department of Fiqh and Usul al-Fiqh |z IIUM | ||
| 710 | 2 | |a International Islamic University Malaysia. |b Department of Fiqh and Usul al-Fiqh | |
| 856 | 4 | |u http://studentrepo.iium.edu.my/handle/123456789/6236 |z Click here to view 1st 24 pages of the thesis. Members can view fulltext at the specified PCs in the library. | |
| 900 | |a mrd-ro-zhmn-naw | ||
| 999 | |c 437424 |d 468643 | ||
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| 952 | |0 0 |6 TS CDF HG 4534 A522W 2013 |7 0 |8 THESES |9 851140 |a IIUM |b IIUM |c MULTIMEDIA |g 0.00 |o ts cdf HG 4534 A522W 2013 |p 00011291512 |r 2017-10-27 |t 1 |v 0.00 |y THESISDIG | ||