International Council of Islamic Finance Educators

Fiqh Muamalat and Its Application to Banking and Finance

Published in 2015

Category:
Topic
1 Overview of Fiqh Muamalat

– Principles of Fiqh Muamalat

      • Prohibition of riba
      • Prohibition of gharar

– Theories of Fiqh Muamalat

      • Theory of legal capacity (ahliyyah)
      • Theory of property (mal)
      • Theory of ownership (milkiyyah)
Partnership Contract 1 (Mudarabah)

– Definition

– Salient Features

– Contemporary Application

– Case Study: Profit Equalization Reserve (PER) in Islamic Banks

Partnership Contract 2 (Musharakah)

– Definition

– Forms of Musharakah

– Contemporary Application

– Case Study: MAS Perpetual Musharakah Sukuk

Sale Contract 1 (Murabahah)

– Definition

– Legality

– Contemporary Application

– Cases Study

5

Sale Contract II (Bay’ Tawarruq)

– Definition

– Classical Jurists’ view on Bay Tawarruq

– Contemporary Application

– Case Study: RHB Islamic Card

6

Ijarah (Leasing) Contract

– Contract

– Legality

– Salient Features

– Contemporary Application

  • AITAB (Financing Lease)

Shariah Issue in Ijarah Application

– Case Study: Sub-Lease

7

Wakalah Contract

– Definition

– Legal Evidence

– Salient Features

– Contemporary Application

8

Kafalah

– Definition

– Legal Evidence

– Salient Features

– Contemporary Application

– Case Study: Letter of Guarantee

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