Application of Tawarruq munazzam in Malaysia / Ismail Rustam

Nowadays, the development of Islamic Financial Institutions has given positive impact towards Islamic bank industry. Many new contracts have been introduced as an alternative to conventional bank products. Tawarruq munazzam or known as commodity murabahah is one of the contracts. In this study, the...

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Bibliographic Details
Main Author:	Rustam, Ismail
Format:	Student Project
Language:	English
Published:	Universiti Teknologi MARA, Selangor, Puncak Alam Campus 2018
Subjects:	Bank loans. Bank credit. Commercial loans Finance, Islamic
Online Access:	http://ir.uitm.edu.my/id/eprint/23351/ http://ir.uitm.edu.my/id/eprint/23351/1/PPb_ISMAIL%20RUSTAM%20ACI%20B%2018_5.pdf

id	uitm-23351
recordtype	eprints
spelling	uitm-233512019-03-04T09:00:32Z http://ir.uitm.edu.my/id/eprint/23351/ Application of Tawarruq munazzam in Malaysia / Ismail Rustam Rustam, Ismail Bank loans. Bank credit. Commercial loans Finance, Islamic Nowadays, the development of Islamic Financial Institutions has given positive impact towards Islamic bank industry. Many new contracts have been introduced as an alternative to conventional bank products. Tawarruq munazzam or known as commodity murabahah is one of the contracts. In this study, the author has set several objectives which are to explain the concept of tawarruq munazzam, discussing the fuqaha’s opinions on this contract and explain the modus operandi of tawarruq munazzam implements in Malaysia. The study founds that tawarruq munazzam is a contract that practice by Islamic bank to provide financing towards customers. The practice of this contract is contrary to the conventional bank’s financing products. This is because the features of both contracts are different. In fact, tawarruq munazzam is a contract based on the trading transaction, meanwhile, the financing product offered by conventional banks is based on loans which containing riba. Majority of contemporary fuqaha permit the practice of tawarruq munazzam based on their ijtihad to provide maslahah among the society. Meanwhile, there are also fuqaha who prohibited this practice because it seems like a hilah to permit riba. Lastly, an Every Islamic bank in Malaysia is using a platform such as as-Sidq, London Metal Exchange, and Bursa Suq al-Sila to trade the commodity while practicing tawarruq munazzam. Universiti Teknologi MARA, Selangor, Puncak Alam Campus 2018 Student Project NonPeerReviewed text en http://ir.uitm.edu.my/id/eprint/23351/1/PPb_ISMAIL%20RUSTAM%20ACI%20B%2018_5.pdf Rustam, Ismail (2018) Application of Tawarruq munazzam in Malaysia / Ismail Rustam. [Student Project] (Unpublished)
repository_type	Digital Repository
institution_category	Local University
institution	Universiti Teknologi MARA
building	UiTM Institutional Repository
collection	Online Access
language	English
topic	Bank loans. Bank credit. Commercial loans Finance, Islamic
spellingShingle	Bank loans. Bank credit. Commercial loans Finance, Islamic Rustam, Ismail Application of Tawarruq munazzam in Malaysia / Ismail Rustam
description	Nowadays, the development of Islamic Financial Institutions has given positive impact towards Islamic bank industry. Many new contracts have been introduced as an alternative to conventional bank products. Tawarruq munazzam or known as commodity murabahah is one of the contracts. In this study, the author has set several objectives which are to explain the concept of tawarruq munazzam, discussing the fuqaha’s opinions on this contract and explain the modus operandi of tawarruq munazzam implements in Malaysia. The study founds that tawarruq munazzam is a contract that practice by Islamic bank to provide financing towards customers. The practice of this contract is contrary to the conventional bank’s financing products. This is because the features of both contracts are different. In fact, tawarruq munazzam is a contract based on the trading transaction, meanwhile, the financing product offered by conventional banks is based on loans which containing riba. Majority of contemporary fuqaha permit the practice of tawarruq munazzam based on their ijtihad to provide maslahah among the society. Meanwhile, there are also fuqaha who prohibited this practice because it seems like a hilah to permit riba. Lastly, an Every Islamic bank in Malaysia is using a platform such as as-Sidq, London Metal Exchange, and Bursa Suq al-Sila to trade the commodity while practicing tawarruq munazzam.
format	Student Project
author	Rustam, Ismail
author_facet	Rustam, Ismail
author_sort	Rustam, Ismail
title	Application of Tawarruq munazzam in Malaysia / Ismail Rustam
title_short	Application of Tawarruq munazzam in Malaysia / Ismail Rustam
title_full	Application of Tawarruq munazzam in Malaysia / Ismail Rustam
title_fullStr	Application of Tawarruq munazzam in Malaysia / Ismail Rustam
title_full_unstemmed	Application of Tawarruq munazzam in Malaysia / Ismail Rustam
title_sort	application of tawarruq munazzam in malaysia / ismail rustam
publisher	Universiti Teknologi MARA, Selangor, Puncak Alam Campus
publishDate	2018
url	http://ir.uitm.edu.my/id/eprint/23351/ http://ir.uitm.edu.my/id/eprint/23351/1/PPb_ISMAIL%20RUSTAM%20ACI%20B%2018_5.pdf
first_indexed	2023-09-18T23:10:32Z
last_indexed	2023-09-18T23:10:32Z
_version_	1777418772356792320

Application of Tawarruq munazzam in Malaysia / Ismail Rustam

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