العقود المالية المركبة في مصرف نزوى الإسلامي في سلطنة عمان: دراسة فقهية تحليلية /
The term "composite financial contracts" did not exist during the era of the Prophet Muhammad (PBUH), nor in the era of the Sahaabah (RA). Moreover, Muslim jurists did not discuss this term in their texts as a special term; rather, they discussed the term "combined financial contracts...
Saved in:
| Main Author: | |
|---|---|
| Format: | Thesis |
| Language: | Arabic |
| Published: |
Kuala Lumpur :
Kulliyah of Islamic Revealed Knowledge and Human Sciences, International Islamic University Malaysia,
2019
|
| Subjects: | |
| Online Access: | http://studentrepo.iium.edu.my/handle/123456789/9757 |
| Tags: |
Add Tag
No Tags, Be the first to tag this record!
|
| Summary: | The term "composite financial contracts" did not exist during the era of the Prophet Muhammad (PBUH), nor in the era of the Sahaabah (RA). Moreover, Muslim jurists did not discuss this term in their texts as a special term; rather, they discussed the term "combined financial contracts." The purpose of this study, which uses a descriptive approach, is to illustrate the nature of the composite financial contracts and the Muslim scholars' opinions about it. The study also analyzes and discusses these opinions and their supportive evidence and highlights the most correct opinion for each related issue in this context and how to employ these contracts in the contemporary financial transactions. The study concluded that the composite financial contracts are a collection of multiple financial contracts that are included in a single contracts, so that all the rights and obligations resulting from this collection of contracts are considered the rights and obligations of a single contract, where the composite of these contract does not result in a prohibited contract. Principally, the composite financial contracts are permissible as long as they adhere to the conditions stipulated by the jurists, the jurisprudential councils, and Shariah bodies; where composing two or more contracts is not prohibited, not aimed at forbidden purposes, and every single contract, per se, is permissible. Bank Nizwa is the first Islamic bank in the Sultanate of Oman, and it has been applying the composite financial contracts in various products. The researcher performed a field study about Bank Nizwa and conducted several interviews with the Sharia Board of the bank. The study revealed that the bank has used composite financial contracts in its products to meet the needs of customers. For example, Ijarah and Hibah contracts are composited in one contract to form a residential financial product. By examining this contract, it was found that it adheres to the conditions of the composite financial contracts. The field study, however, revealed some legitimate and practical problems in the implementation of these contracts; for example, the client does not know how to be an agent for the bank in some contracts, and what are his obligations. Being a new player is the Islamic Banking and finance industry, Bank Nizwa has a steep learning curve in becoming a full fledsed Islamic Finance institution. |
|---|---|
| Physical Description: | [xi], 87 leaves : illustrations ; 30cm. |
| Bibliography: | Includes bibliographical references (leaves 78-87). |