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مدى شرعية تطبيقات المصارف الإسلامية الماليزية لبيوع الدين
[Examining the new applications of sale of debt in the Islamic financial institutions]

Author

Listed:
  • Abozaid, Abdulazeem

Abstract

Debt is the money owed to others, and its exchange in Shariah is subject to specific conditions in order to avoid Riba. Since conventional financial institutions are not committed to the avoidance of Riba, they have practiced many forms of debt sales. Some Islamic financial institutions do the same thing but under different pretexts, especially with the emergence of so-called “sukuk”. The study seeks to examine the applications of debt in Islamic finance and study the justifications used to allow them, to see whether or not Islamic banks have breached the Shariah law with regard to debt sale.

Suggested Citation

  • Abozaid, Abdulazeem, 2008. "مدى شرعية تطبيقات المصارف الإسلامية الماليزية لبيوع الدين [Examining the new applications of sale of debt in the Islamic financial institutions]," MPRA Paper 93431, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:93431
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    File URL: https://mpra.ub.uni-muenchen.de/93431/1/MPRA_paper_93431.pdf
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    More about this item

    Keywords

    Islamic finance; sukuk; sale of debt; Islamic banking;
    All these keywords.

    JEL classification:

    • G2 - Financial Economics - - Financial Institutions and Services
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation

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