Some issues on Murabahah practices in Iran and Malaysian Islamic banks.

The purpose of this paper was to analyze the nature of Murabahah contract in the fully grounded Islamic banking system that is, Iran and Malaysia. The approach taken was descriptive. Although, the main principle of Islamic financial institutions is prohibition of usury, it is surprising to see that...

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Main Authors:	Zandi Pour Joopari, GholamReza, Mohd Ariffin, Noraini, Shahabi, Alireza
Format:	Article
Language:	English English
Published:	Academic Journals 2012
Subjects:	HG Finance HG1501 Banking
Online Access:	http://irep.iium.edu.my/24526/ http://irep.iium.edu.my/24526/ http://irep.iium.edu.my/24526/1/Some_issues_on_Murabahah_practices_in_Iran_and_Malaysian_Islamic_banks.pdf http://irep.iium.edu.my/24526/4/Zandi_et_al_AJBM6%2824%29_2012.pdf

id	iium-24526
recordtype	eprints
spelling	iium-245262014-07-21T08:13:47Z http://irep.iium.edu.my/24526/ Some issues on Murabahah practices in Iran and Malaysian Islamic banks. Zandi Pour Joopari, GholamReza Mohd Ariffin, Noraini Shahabi, Alireza HG Finance HG1501 Banking The purpose of this paper was to analyze the nature of Murabahah contract in the fully grounded Islamic banking system that is, Iran and Malaysia. The approach taken was descriptive. Although, the main principle of Islamic financial institutions is prohibition of usury, it is surprising to see that Islamic financial institutions are still practicing usury in their transaction as evidenced in Iran. In the case of Malaysia however, BBA home financing is used by Islamic financial institutions and the profit rate is still dependent on the market interest rate due to arbitrage activities. There is no transparent framework for Murabahah contracts in Islamic banks. Indeed there is a need for the banking standard regulators to set a clear and disciplined framework for this type of banking contract. There are currently, Murabahah security (Sukuk) for finance, Murabahah security (Sukuk) for liquidity, companies Murabahah security (Sukuk) and mortgage Murabahah security (Sukuk) products in the Islamic niche of the financial market. A combination of Murabahah Security for Finance and Mortgage Murabahah Security has been the underlying Murabahah instrument. The study hopes to improve the overall competency and reliability of the Islamic banking system in the world. The finding of this study will be a basis for further research in Murabaha with respect to the regulatory environment and Shari’ah compliance. Academic Journals 2012-06-20 Article PeerReviewed application/pdf en http://irep.iium.edu.my/24526/1/Some_issues_on_Murabahah_practices_in_Iran_and_Malaysian_Islamic_banks.pdf application/pdf en http://irep.iium.edu.my/24526/4/Zandi_et_al_AJBM6%2824%29_2012.pdf Zandi Pour Joopari, GholamReza and Mohd Ariffin, Noraini and Shahabi, Alireza (2012) Some issues on Murabahah practices in Iran and Malaysian Islamic banks. African Journal of Business Management., 6 (24). pp. 7066-7073. ISSN 1993-8233 http://www.academicjournals.org/AJBM/PDF/pdf2012/20June/Zandi%20et%20al.pdf
repository_type	Digital Repository
institution_category	Local University
institution	International Islamic University Malaysia
building	IIUM Repository
collection	Online Access
language	English English
topic	HG Finance HG1501 Banking
spellingShingle	HG Finance HG1501 Banking Zandi Pour Joopari, GholamReza Mohd Ariffin, Noraini Shahabi, Alireza Some issues on Murabahah practices in Iran and Malaysian Islamic banks.
description	The purpose of this paper was to analyze the nature of Murabahah contract in the fully grounded Islamic banking system that is, Iran and Malaysia. The approach taken was descriptive. Although, the main principle of Islamic financial institutions is prohibition of usury, it is surprising to see that Islamic financial institutions are still practicing usury in their transaction as evidenced in Iran. In the case of Malaysia however, BBA home financing is used by Islamic financial institutions and the profit rate is still dependent on the market interest rate due to arbitrage activities. There is no transparent framework for Murabahah contracts in Islamic banks. Indeed there is a need for the banking standard regulators to set a clear and disciplined framework for this type of banking contract. There are currently, Murabahah security (Sukuk) for finance, Murabahah security (Sukuk) for liquidity, companies Murabahah security (Sukuk) and mortgage Murabahah security (Sukuk) products in the Islamic niche of the financial market. A combination of Murabahah Security for Finance and Mortgage Murabahah Security has been the underlying Murabahah instrument. The study hopes to improve the overall competency and reliability of the Islamic banking system in the world. The finding of this study will be a basis for further research in Murabaha with respect to the regulatory environment and Shari’ah compliance.
format	Article
author	Zandi Pour Joopari, GholamReza Mohd Ariffin, Noraini Shahabi, Alireza
author_facet	Zandi Pour Joopari, GholamReza Mohd Ariffin, Noraini Shahabi, Alireza
author_sort	Zandi Pour Joopari, GholamReza
title	Some issues on Murabahah practices in Iran and Malaysian Islamic banks.
title_short	Some issues on Murabahah practices in Iran and Malaysian Islamic banks.
title_full	Some issues on Murabahah practices in Iran and Malaysian Islamic banks.
title_fullStr	Some issues on Murabahah practices in Iran and Malaysian Islamic banks.
title_full_unstemmed	Some issues on Murabahah practices in Iran and Malaysian Islamic banks.
title_sort	some issues on murabahah practices in iran and malaysian islamic banks.
publisher	Academic Journals
publishDate	2012
url	http://irep.iium.edu.my/24526/ http://irep.iium.edu.my/24526/ http://irep.iium.edu.my/24526/1/Some_issues_on_Murabahah_practices_in_Iran_and_Malaysian_Islamic_banks.pdf http://irep.iium.edu.my/24526/4/Zandi_et_al_AJBM6%2824%29_2012.pdf
first_indexed	2023-09-18T20:36:46Z
last_indexed	2023-09-18T20:36:46Z
_version_	1777409098011115520

Some issues on Murabahah practices in Iran and Malaysian Islamic banks.

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