Contra trading in Bursa Malaysia securities Berhad : a Sharīʿah and legal appraisal
المؤلفون المشاركون
Luqman, Burhan al-Din
Qasri, Nur Suhaida
المصدر
ISRA International Journal of Islamic Finance
العدد
المجلد 9، العدد 2 (31 ديسمبر/كانون الأول 2017)، ص ص. 200-204، 5ص.
الناشر
الأكاديمية العالمية للبحوث الشرعية
تاريخ النشر
2017-12-31
دولة النشر
ماليزيا
عدد الصفحات
5
التخصصات الرئيسية
الملخص EN
Purpose – The purpose of this paper is to analyze the practice of contra trading in Bursa Malaysia Securities Berhad.
Through a critical examination of the practice, it aims to discuss the issues from the angles of Sharīʿah and Malaysian common law.
Design/methodology/approach – The paper uses a qualitative research methodology.
The information on the practice of contra trading is obtained through the Bursa Malaysia Securities Berhad's website and literature as well as series of meetings and discussions held with Bursa Malaysia Securities Berhad.
In comprehending and dissecting the Sharīʿah and legal issues, classical along with contemporary Sharīʿah literature including local and international Sharīʿah advisory bodies' resolutions and standards have been referred to.
The Sharīʿah analysis of these issues is further supported by reference to the statute and by-laws of Bursa Malaysia Securities Berhad as well as other related legal literature.
Findings – This paper finds that contra trading involves a real sale and purchase of shares; the shares are not taken into the possession of the contra trader, neither physically nor constructively; the liability of shares is not transferred to the contra trader; though the practice of profiting in contra trading may contradict the prohibition on profiting without bearing liability, the permissibility of contra trading could still be argued from the contextual approach of public interest (ma sla hah) and needs (h ajah); and contra trading is not gambling.
Research limitations/implications – This paper is limited in its analysis to only Sharīʿah and legal perspectives.
It does not cover a thorough empirical and quantitative investigation that would measure the extent of the public needs for contra trading and the real benefits that contra trading brings about to the society in the long run.
Such studies will further demonstrate whether contra trading deserves a relaxation from the strict Sharīʿah ruling thus affirming the issue of permissibility of contra trading.
Moving forward, this paper recommends ways to address the predicaments faced in the contra trading practices as well important research areas that could be taken up in future.
Originality/value – This paper provides an in-depth investigation of the practice of contra trading at the Bursa Malaysia Securities Berhad from the angles of Sharīʿah and common law.
نمط استشهاد جمعية علماء النفس الأمريكية (APA)
Qasri, Nur Suhaida& Luqman, Burhan al-Din. 2017. Contra trading in Bursa Malaysia securities Berhad : a Sharīʿah and legal appraisal. ISRA International Journal of Islamic Finance،Vol. 9, no. 2, pp.200-204.
https://search.emarefa.net/detail/BIM-965271
نمط استشهاد الجمعية الأمريكية للغات الحديثة (MLA)
Qasri, Nur Suhaida& Luqman, Burhan al-Din. Contra trading in Bursa Malaysia securities Berhad : a Sharīʿah and legal appraisal. ISRA International Journal of Islamic Finance Vol. 9, no. 2 (2017), pp.200-204.
https://search.emarefa.net/detail/BIM-965271
نمط استشهاد الجمعية الطبية الأمريكية (AMA)
Qasri, Nur Suhaida& Luqman, Burhan al-Din. Contra trading in Bursa Malaysia securities Berhad : a Sharīʿah and legal appraisal. ISRA International Journal of Islamic Finance. 2017. Vol. 9, no. 2, pp.200-204.
https://search.emarefa.net/detail/BIM-965271
نوع البيانات
مقالات
لغة النص
الإنجليزية
الملاحظات
Text in English ; abstracts in .
رقم السجل
BIM-965271
قاعدة معامل التأثير والاستشهادات المرجعية العربي "ارسيف Arcif"
أضخم قاعدة بيانات عربية للاستشهادات المرجعية للمجلات العلمية المحكمة الصادرة في العالم العربي
تقوم هذه الخدمة بالتحقق من التشابه أو الانتحال في الأبحاث والمقالات العلمية والأطروحات الجامعية والكتب والأبحاث باللغة العربية، وتحديد درجة التشابه أو أصالة الأعمال البحثية وحماية ملكيتها الفكرية. تعرف اكثر