Debt theories in Islamic commercial transactions and their implications for the Islamic capital market

There are two different approaches to the prophetic concern regarding debt acquisition and the related rulings. The Prophet (peace be upon him) was recorded as having discouraged debt while other verbal traditions provided guidelines on how to manage debt in a socially responsible manner. This pape...

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Main Authors:	Adam Sa'ad, Auwal, Syed Jaafar Alhabshi, Syed Musa
Format:	Article
Language:	English
Published:	New Millennium Discoveries, UK 2019
Subjects:	HG3368 Islamic Banking and Finance
Online Access:	http://irep.iium.edu.my/76695/ http://irep.iium.edu.my/76695/ http://irep.iium.edu.my/76695/ http://irep.iium.edu.my/76695/1/76695%20-%20Debt%20theories%20in%20Islamic%20commercial%20transactions.pdf

id	iium-76695
recordtype	eprints
spelling	iium-766952020-02-20T03:28:20Z http://irep.iium.edu.my/76695/ Debt theories in Islamic commercial transactions and their implications for the Islamic capital market Adam Sa'ad, Auwal Syed Jaafar Alhabshi, Syed Musa HG3368 Islamic Banking and Finance There are two different approaches to the prophetic concern regarding debt acquisition and the related rulings. The Prophet (peace be upon him) was recorded as having discouraged debt while other verbal traditions provided guidelines on how to manage debt in a socially responsible manner. This paper aims to analyse these two contrary views according to the Maqasid Shariah and look at how this has impacted juristic rulings. Furthermore, the paper reviews classical fiqh theories on debt, sale of debt, alMuqassah, Suftajah, Hawalah, and Ibra. The paper also reviews the theoretical perspective on the sale of debt according to the understanding of Islamic scholars across the schools of Islamic Jurisprudence which has a substantial impact on the contemporary practices in Islamic banking and the Islamic capital market. New Millennium Discoveries, UK 2019-11-30 Article PeerReviewed application/pdf en http://irep.iium.edu.my/76695/1/76695%20-%20Debt%20theories%20in%20Islamic%20commercial%20transactions.pdf Adam Sa'ad, Auwal and Syed Jaafar Alhabshi, Syed Musa (2019) Debt theories in Islamic commercial transactions and their implications for the Islamic capital market. International Journal of Management and Applied Research, 6 (4). pp. 296-306. ISSN 2056-757X http://ijmar.org/v6n4/toc.html https://doi.org/10.18646/2056.64.19-022
repository_type	Digital Repository
institution_category	Local University
institution	International Islamic University Malaysia
building	IIUM Repository
collection	Online Access
language	English
topic	HG3368 Islamic Banking and Finance
spellingShingle	HG3368 Islamic Banking and Finance Adam Sa'ad, Auwal Syed Jaafar Alhabshi, Syed Musa Debt theories in Islamic commercial transactions and their implications for the Islamic capital market
description	There are two different approaches to the prophetic concern regarding debt acquisition and the related rulings. The Prophet (peace be upon him) was recorded as having discouraged debt while other verbal traditions provided guidelines on how to manage debt in a socially responsible manner. This paper aims to analyse these two contrary views according to the Maqasid Shariah and look at how this has impacted juristic rulings. Furthermore, the paper reviews classical fiqh theories on debt, sale of debt, alMuqassah, Suftajah, Hawalah, and Ibra. The paper also reviews the theoretical perspective on the sale of debt according to the understanding of Islamic scholars across the schools of Islamic Jurisprudence which has a substantial impact on the contemporary practices in Islamic banking and the Islamic capital market.
format	Article
author	Adam Sa'ad, Auwal Syed Jaafar Alhabshi, Syed Musa
author_facet	Adam Sa'ad, Auwal Syed Jaafar Alhabshi, Syed Musa
author_sort	Adam Sa'ad, Auwal
title	Debt theories in Islamic commercial transactions and their implications for the Islamic capital market
title_short	Debt theories in Islamic commercial transactions and their implications for the Islamic capital market
title_full	Debt theories in Islamic commercial transactions and their implications for the Islamic capital market
title_fullStr	Debt theories in Islamic commercial transactions and their implications for the Islamic capital market
title_full_unstemmed	Debt theories in Islamic commercial transactions and their implications for the Islamic capital market
title_sort	debt theories in islamic commercial transactions and their implications for the islamic capital market
publisher	New Millennium Discoveries, UK
publishDate	2019
url	http://irep.iium.edu.my/76695/ http://irep.iium.edu.my/76695/ http://irep.iium.edu.my/76695/ http://irep.iium.edu.my/76695/1/76695%20-%20Debt%20theories%20in%20Islamic%20commercial%20transactions.pdf
first_indexed	2023-09-18T21:48:19Z
last_indexed	2023-09-18T21:48:19Z
_version_	1777413599049809920

Debt theories in Islamic commercial transactions and their implications for the Islamic capital market

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