Legal maxim: “Every loan that brings benefit is usury,” its related issues and implementation in pre-Islamic and Malaysian financial transactions
An important Islamic legal maxim is “Every loan that brings benefit is usury”. A normal ruling of the Sharῑ‘ah is that if anyone receives a loan from a person or a bank, he is supposed to return its exact amount to the moneylender. Any increase to it is considered usury (ribᾱ’) and therefore forbid...
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International Islamic University Malaysia
2018
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| Online Access: | http://irep.iium.edu.my/64680/ http://irep.iium.edu.my/64680/ http://irep.iium.edu.my/64680/1/64680_Legal%20Maxim-%20%E2%80%9CEvery%20Loan%20That%20Brings.pdf |
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iium-646802018-07-25T02:34:35Z http://irep.iium.edu.my/64680/ Legal maxim: “Every loan that brings benefit is usury,” its related issues and implementation in pre-Islamic and Malaysian financial transactions Amanullah, Muhammad BP173.75 Islam and economics HB126.4 Islamic Economics HG3368 Islamic Banking and Finance KBP1 Islamic law.Shariah.Fiqh An important Islamic legal maxim is “Every loan that brings benefit is usury”. A normal ruling of the Sharῑ‘ah is that if anyone receives a loan from a person or a bank, he is supposed to return its exact amount to the moneylender. Any increase to it is considered usury (ribᾱ’) and therefore forbidden. However, jurists dispute over the following issue: “If this increase is not stipulated at the time of giving the loan, and the borrower gives it at the time of paying the loan back to the lender.” Some jurists maintain that this is lawful, while others consider it as forbidden. Using descriptive and analytical methods, this paper discusses this legal maxim, its proofs, and the disputes of jurists on its related issues, while placing emphasis on the stronger opinion. It then strives to discuss its implementation in some pre-Islamic and Malaysian financial transactions. International Islamic University Malaysia 2018-06 Article PeerReviewed application/pdf en http://irep.iium.edu.my/64680/1/64680_Legal%20Maxim-%20%E2%80%9CEvery%20Loan%20That%20Brings.pdf Amanullah, Muhammad (2018) Legal maxim: “Every loan that brings benefit is usury,” its related issues and implementation in pre-Islamic and Malaysian financial transactions. Journal of Islam in Asia, 15 (1). pp. 204-227. E-ISSN 2289-8077 http://journals.iium.edu.my/jiasia/index.php/Islam/article/view/665 |
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Digital Repository |
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Local University |
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International Islamic University Malaysia |
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IIUM Repository |
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Online Access |
| language |
English |
| topic |
BP173.75 Islam and economics HB126.4 Islamic Economics HG3368 Islamic Banking and Finance KBP1 Islamic law.Shariah.Fiqh |
| spellingShingle |
BP173.75 Islam and economics HB126.4 Islamic Economics HG3368 Islamic Banking and Finance KBP1 Islamic law.Shariah.Fiqh Amanullah, Muhammad Legal maxim: “Every loan that brings benefit is usury,” its related issues and implementation in pre-Islamic and Malaysian financial transactions |
| description |
An important Islamic legal maxim is “Every loan that brings benefit is usury”. A normal ruling of the Sharῑ‘ah is that if anyone receives a loan from a person or a
bank, he is supposed to return its exact amount to the moneylender. Any increase to it is considered usury (ribᾱ’) and therefore forbidden. However, jurists dispute over the following issue: “If this increase is not stipulated at the time of giving the loan, and the
borrower gives it at the time of paying the loan back to the lender.” Some jurists maintain that this is lawful, while others consider it as forbidden. Using descriptive and analytical methods, this paper discusses this legal maxim, its proofs, and the disputes of jurists on its related issues, while placing emphasis on the stronger opinion. It then strives to discuss its implementation in some pre-Islamic and Malaysian financial transactions. |
| format |
Article |
| author |
Amanullah, Muhammad |
| author_facet |
Amanullah, Muhammad |
| author_sort |
Amanullah, Muhammad |
| title |
Legal maxim: “Every loan that brings benefit is usury,” its related issues and implementation in pre-Islamic and Malaysian financial transactions |
| title_short |
Legal maxim: “Every loan that brings benefit is usury,” its related issues and implementation in pre-Islamic and Malaysian financial transactions |
| title_full |
Legal maxim: “Every loan that brings benefit is usury,” its related issues and implementation in pre-Islamic and Malaysian financial transactions |
| title_fullStr |
Legal maxim: “Every loan that brings benefit is usury,” its related issues and implementation in pre-Islamic and Malaysian financial transactions |
| title_full_unstemmed |
Legal maxim: “Every loan that brings benefit is usury,” its related issues and implementation in pre-Islamic and Malaysian financial transactions |
| title_sort |
legal maxim: “every loan that brings benefit is usury,” its related issues and implementation in pre-islamic and malaysian financial transactions |
| publisher |
International Islamic University Malaysia |
| publishDate |
2018 |
| url |
http://irep.iium.edu.my/64680/ http://irep.iium.edu.my/64680/ http://irep.iium.edu.my/64680/1/64680_Legal%20Maxim-%20%E2%80%9CEvery%20Loan%20That%20Brings.pdf |
| first_indexed |
2023-09-18T21:31:47Z |
| last_indexed |
2023-09-18T21:31:47Z |
| _version_ |
1777412559516729344 |