Appraisal of some scholastic views on juridical personality with reference to Islamic banking companies
Author
Source
Journal of Islamic Business and Management
Issue
Vol. 6, Issue 1 (30 Jun. 2016), pp.97-118, 22 p.
Publisher
Riphah International University Riphah Centre of Islamic Business
Publication Date
2016-06-30
Country of Publication
Pakistan
No. of Pages
22
Main Subjects
Financial and Accounting Sciences
Religion
Islamic Studies
Topics
- Banks
- Islamic jurisprudence
- Foundations of Islamic jurisprudence
- Contracts
- ٌLeasing
- Debts
- Taxes
- Interest
- Stocks
- Pakistan
- Corporations
- Alms tax
- Responsibility
- Waqf
- Usury
- Treasure house
- Islamic Banks
- Juridical person
- Commons
- Limited liability partnership
- Confidence
Abstract EN
The system similar to that of modern corporate body did not exist at the time of early periods of Islam, nor is there any express provision in Islamic Sources of Sharī‘ah on the concepts associated with present day companies.
Therefore, the scholars of Islam differed in their viewpoints on the juridical personality of a ‘body corporate’ extending arguments both favouring and disfavouring it.
Earliest contemporary work/ rulings on this issue could be traced back to beginning of the 20th Century (Rahim, 1908).
Further works on the subject divulge diverse view of scholars/‘ulamā.
The difference of opinion got intensified in the beginning of 21th Century when Islamic banking was re-launched in Pakistan.
While the viewpoint of both, the proponents as well as opponents may be relevant, the author after discussing the arguments concludes that the view of the proponents is more authentic and convincing and has accordingly discussed and concluded that Islamic banks with their present character are not un-Islamic as far as their juridical capacity is concerned.
American Psychological Association (APA)
al-Rahman, Shafiq. 2016. Appraisal of some scholastic views on juridical personality with reference to Islamic banking companies. Journal of Islamic Business and Management،Vol. 6, no. 1, pp.97-118.
https://search.emarefa.net/detail/BIM-710042
Modern Language Association (MLA)
al-Rahman, Shafiq. Appraisal of some scholastic views on juridical personality with reference to Islamic banking companies. Journal of Islamic Business and Management Vol. 6, no. 1 (Jun. 2016), pp.97-118.
https://search.emarefa.net/detail/BIM-710042
American Medical Association (AMA)
al-Rahman, Shafiq. Appraisal of some scholastic views on juridical personality with reference to Islamic banking companies. Journal of Islamic Business and Management. 2016. Vol. 6, no. 1, pp.97-118.
https://search.emarefa.net/detail/BIM-710042
Data Type
Journal Articles
Language
English
Notes
Includes bibliographical references : p. 116- 118
Record ID
BIM-710042