Modus operandi of the Islamic money market : a proposal for holistic Shariah adaptation
Other Title(s)
طريقة عمل السوق النقدي الإسلامي : مقترح لتكيف شريعي شامل
Joint Authors
Ulaymi, Abd al-Aziz Maruf
Hasan, Aznan
Ibrahim, Uzaimah
Bint Mahamud, Siti Mashitoh
Bin Buang, Ahmad Hidayat
Source
University of Sharjah Journal for Humanities and Social Sciences
Issue
Vol. 13, Issue (s) (31 Dec. 2016), pp.41-67, 27 p.
Publisher
Publication Date
2016-12-31
Country of Publication
United Arab Emirates
No. of Pages
27
Main Subjects
Financial and Accounting Sciences
Religion
Islamic Studies
Topics
Abstract EN
This paper advocates a holistic Shariah adaptation of the modus operandi (operational model) of the Islamic interbank money market.
It presents the reasons for the need for the substitution of the conventional methods of ‘tendering’, ‘auction’ and brokerage procedures in the market with the Shariah compliant methods of ‘al-Munaqasah,’ ‘al-Muzayadah’ and ‘al- Samsarah’ which are known and rooted in the Islamic law of transaction.
It concluded that the adaptation of such procedures will lend more credence to the Islamic financial system that continues to receive criticism from various quarters.
The study is a qualitative Shariah legal research.
It is restricted to the jurisprudential analysis of the modus operandi of the market vis-a-vis the underpinning contracts of its procedure, in both the primary and the secondary stages of the markets.
American Psychological Association (APA)
Ulaymi, Abd al-Aziz Maruf& Hasan, Aznan& Ibrahim, Uzaimah& Bint Mahamud, Siti Mashitoh& Bin Buang, Ahmad Hidayat. 2016. Modus operandi of the Islamic money market : a proposal for holistic Shariah adaptation. University of Sharjah Journal for Humanities and Social Sciences،Vol. 13, no. (s), pp.41-67.
https://search.emarefa.net/detail/BIM-748856
Modern Language Association (MLA)
Hasan, Aznan…[et al.]. Modus operandi of the Islamic money market : a proposal for holistic Shariah adaptation. University of Sharjah Journal for Humanities and Social Sciences Vol. 13, Special Issue (Dec. 2016), pp.41-67.
https://search.emarefa.net/detail/BIM-748856
American Medical Association (AMA)
Ulaymi, Abd al-Aziz Maruf& Hasan, Aznan& Ibrahim, Uzaimah& Bint Mahamud, Siti Mashitoh& Bin Buang, Ahmad Hidayat. Modus operandi of the Islamic money market : a proposal for holistic Shariah adaptation. University of Sharjah Journal for Humanities and Social Sciences. 2016. Vol. 13, no. (s), pp.41-67.
https://search.emarefa.net/detail/BIM-748856
Data Type
Journal Articles
Language
English
Notes
Includes bibliographical references : p. 63-66
Record ID
BIM-748856