Murabaha Transactions of Islamic Banking Shariah Issues

Authors

  • Dr.Ejaz Ahmed Samdani Professor, Jamia Darul Uloom, Karachi
  • Syed Naeem Badshah Chairperson Department of Islamic Studies The University of Agriculture Peshawar

Keywords:

encouraging, inclination, slamic Banking, establishment, Murabah

Abstract

It is indeed very encouraging and a means of great joy that the inclination towards Islamic Banking throughout the World is increasing day by day. This has become the means of an increase in the establishment of new Islamic Banks as well as Islamic Banking departments or windows being established by conventional banks. These developments not only indicate towards the truth of Islam in that it is the only religion that has the ability to guide humanity in contemporary issues even after 1400 years, but also are a great sign of encouragement in that they indicate towards the fact that Muslims have extended their commitment to the teachings Islam from being restricted merely to the mosque to other branches of their lives. In present scenario, most of the Islamic Banks and financial institutions are using Murabah as a mode of finance, while the original concept of Murabaha is that this is a kind of sale. It has been implemented as a mode of finance after doing financial engineering to process. That is why, it faces a few arguments from different sides.In this research article in short these arguments has been discussed and has been tried to prove if murabaha, is  implemented within the principles of the Sharia then this would be acceptable and there is no reason to make this a target of criticism. Although, musharaka and mudharaba are considered and believed to be the ideal forms of financing from Shariah point of view.

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Published

2017-06-30

How to Cite

Dr.Ejaz Ahmed Samdani, & Badshah, S. N. (2017). Murabaha Transactions of Islamic Banking Shariah Issues. Al-Azhār, 3(01), 48–60. Retrieved from http://www.al-azhaar.org/index.php/alazhar/article/view/165

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Articles