The application of maqasid al-Shari’ah : wasaṭiyyah as a significant aspect in the banker-customer relationship in Malaysian Islamic banks
Other Title(s)
تطبيق مقاصد الشريعة : الوسطية كأقوى جانب في العلاقة بين المصارف الإسلامية الماليزية و المتعامل معها
Joint Authors
Bint Abu Bakr, Nur Mahinar
Yasin, Nurhashimah Bint Muhammad
Source
International Journal of Fiqh and Usul Al-fiqh Studies
Issue
Vol. 1, Issue 1 (31 Dec. 2017), pp.77-90, 14 p.
Publisher
Publication Date
2017-12-31
Country of Publication
Malaysia
No. of Pages
14
Main Subjects
Economy and Commerce
Islamic Studies
Abstract EN
The banker-customer relationship is a contractual relationship based on the contract between Islamic banks and its customers.
Islamic banks use standardized contracts and offer them on a ‘take it or leave it’ basis where the terms cannot be negotiated, subsequently creating the potential for Islamic banks with the economic strength to exploit the contracts.
The main purpose of this study is to examine the terms and conditions that may result in significant imbalance between rights and obligations in the banker-customer relationship, which detriments banking consumers.
Findings in this study reveal that there exists unequal bargaining power whereby the customer wields the weaker bargaining power.
Using the content analysis method, this study analyses the application of Maqāṣid al- Sharī'ah through the maxim of wasaṭiyyah in the banker-customer relationship to reshape good self-governance and propose improved legal documentation towards a just transaction.
The strength of the banker-customer relationship will determine the future success of the Malaysian banking industry.
American Psychological Association (APA)
Bint Abu Bakr, Nur Mahinar& Yasin, Nurhashimah Bint Muhammad. 2017. The application of maqasid al-Shari’ah : wasaṭiyyah as a significant aspect in the banker-customer relationship in Malaysian Islamic banks. International Journal of Fiqh and Usul Al-fiqh Studies،Vol. 1, no. 1, pp.77-90.
https://search.emarefa.net/detail/BIM-906481
Modern Language Association (MLA)
Bint Abu Bakr, Nur Mahinar& Yasin, Nurhashimah Bint Muhammad. The application of maqasid al-Shari’ah : wasaṭiyyah as a significant aspect in the banker-customer relationship in Malaysian Islamic banks. International Journal of Fiqh and Usul Al-fiqh Studies Vol. 1, no. 1 (Dec. 2017), pp.77-90.
https://search.emarefa.net/detail/BIM-906481
American Medical Association (AMA)
Bint Abu Bakr, Nur Mahinar& Yasin, Nurhashimah Bint Muhammad. The application of maqasid al-Shari’ah : wasaṭiyyah as a significant aspect in the banker-customer relationship in Malaysian Islamic banks. International Journal of Fiqh and Usul Al-fiqh Studies. 2017. Vol. 1, no. 1, pp.77-90.
https://search.emarefa.net/detail/BIM-906481
Data Type
Journal Articles
Language
English
Notes
Includes bibliographical references : p. 89-90
Record ID
BIM-906481