Gift of the compensation condition and used in Islamic financing instruments

Abdel WadoudMoustafaMoursi El-Seoudi, ZainiNasohah Zaini, A. H. Mohd. Nor, Shofian Ahmad, Muhammad Nazir Alias, Ahmad Dahlan Salleh

Research output: Contribution to journalArticle

Abstract

Islamic financing system is a system that emphasizes justice and avoid injustice to burden the riba of the loan. A number of financing instruments have been introduced by Muslim scholars in order to achieve these objectives. Between existing instruments such as sale al-cInahand Tawarruq. However, both of these instruments still have seen elements of usury by some experts in Islamic finance. This article aims to explain the conditional grant in accordance with the law and explain the relevance of past jurists to be one of the Islamic financing instruments. The study will examine the books containing the views of jurists from different schools to get a clear picture of this problem and then find the best and moderate views. Based on this view, this article explains how the grant agreement can become an instrument of financing in the Islamic financial system.

Original languageEnglish
Pages (from-to)1075-1079
Number of pages5
JournalAdvances in Natural and Applied Sciences
Volume6
Issue number7
Publication statusPublished - 2012

Fingerprint

Gift Giving
Organized Financing
Compensation and Redress
funding
Islam
Social Justice
Muslims
loans
finance
sales
Finance
Sales

Keywords

  • Compensation
  • Condition
  • Financing instruments
  • Gift
  • Islam
  • Islamic

ASJC Scopus subject areas

  • Agricultural and Biological Sciences(all)
  • Biochemistry, Genetics and Molecular Biology(all)
  • Chemical Engineering(all)
  • Engineering(all)

Cite this

Gift of the compensation condition and used in Islamic financing instruments. / El-Seoudi, Abdel WadoudMoustafaMoursi; Zaini, ZainiNasohah; Mohd. Nor, A. H.; Ahmad, Shofian; Alias, Muhammad Nazir; Salleh, Ahmad Dahlan.

In: Advances in Natural and Applied Sciences, Vol. 6, No. 7, 2012, p. 1075-1079.

Research output: Contribution to journalArticle

El-Seoudi, Abdel WadoudMoustafaMoursi ; Zaini, ZainiNasohah ; Mohd. Nor, A. H. ; Ahmad, Shofian ; Alias, Muhammad Nazir ; Salleh, Ahmad Dahlan. / Gift of the compensation condition and used in Islamic financing instruments. In: Advances in Natural and Applied Sciences. 2012 ; Vol. 6, No. 7. pp. 1075-1079.
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