Document Details

Document Type : Article In Journal 
Document Title :
Legal Aspects of Applying the Murabaha Financing Contract
الجوانب القانونية لتطبيق عقد المرابحة
 
Subject : Discussion Papers 
Document Language : Arabic 
Abstract : This paper highlights legal problems that arise in implementing Murabaha (mark-up) contract as a financing tool that is widely used by Islamic banks. One major problem is the question of bank ownership of the financed commodity. This ownership is required by shariah but prohibited by banking laws in many countries. Exempting Islamic banks from such laws-as has often been the case and referring them to figh leaves important legal gaps, because figh encompasses several and occasionally opposite views. The paper discusses a bank's rights and obligations in case of traditional letter of credit as compared to murabaha. Concludes with suggested solutions to the problems raised. Some suggestions require specific changes in laws, while others may be adopted by individual banks. 
ISSN : 1018-7383 
Journal Name : Islamic Economics Journal 
Volume : 2 
Issue Number : 1 
Publishing Year : 1410 AH
1990 AD 
Number Of Pages : 21 
Article Type : Article 
Added Date : Sunday, October 11, 2009 

Researchers

Researcher Name (Arabic)Researcher Name (English)Researcher TypeDr GradeEmail
جمال عطيةJamal AttiehResearcher  

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