Mudarabah based current account: an analysis of Islamic law /
This study examines the practice of mudarabah based current account in light of Islamic law. The study adopts the analytical method by reviewing different documents related to the sharī'ah analysis of mudarabah according to the opinions of classical and contemporary sharī'ah scholars. The...
Saved in:
| Main Author: | |
|---|---|
| Format: | Thesis |
| Language: | English |
| Published: |
Kuala Lumpur:
Kulliyyah of Islamic Revealed Knowledge and Human Sciences, International Islamic University Malaysia,
2012
|
| Subjects: | |
| Online Access: | Click here to view 1st 24 pages of the thesis. Members can view fulltext at the specified PCs in the library. |
| Tags: |
Add Tag
No Tags, Be the first to tag this record!
|
| Summary: | This study examines the practice of mudarabah based current account in light of Islamic law. The study adopts the analytical method by reviewing different documents related to the sharī'ah analysis of mudarabah according to the opinions of classical and contemporary sharī'ah scholars. The study found that the principle of mudarabah has been practiced in Islam for a long time. The study also reveals that scholars of Islamic law including the Hanafi, Maliki, Shafi'i and Hanbali are unanimously agreed upon the permissibility of the mudarabah contract. Contemporary Muslim jurists have contributed significantly to the modern application of the mudarabah contract specifically in areas pertaining to the contracting parties in terms of profit and loss sharing ratios. The study found that mudarabah based current account is permissible. However, the findings of this study conclude that contemporary shari'ah scholars are of the view that there is no guarantee of capital and return in mudarabah based current account. In order to resolve the persisting problem of guarantee, contemporary shari'ah scholars have undertaken ijtihad related to such transactions by suggesting that the third party guarantee would be an alternative approach in mudarabah based current account. The findings are discussed in light of the need to clarity the application of the mudarabah based current account in the Islamic banking system. |
|---|---|
| Item Description: | "A dissertation submitted in fulfilment of the requirements for the degree of Master of Islamic Revealed Knowledge and Heritage (Fiqh and Usul al-Fiqh)".--On t.p. Abstracts in English and Arabic. |
| Physical Description: | xiv, 117 leaves : illustrations ; 30 cm. |
| Bibliography: | Includes bibliographical references (leaves 107-117). |