scholarly journals REVISITING THE CONCEPT OF LEGAL GUARANTEE IN ISLAMIC LAW FOR STRUCTURING ISLAMIC FINANCIAL PRODUCTS

2019 ◽  
Vol 7 (2) ◽  
pp. 396-406
Author(s):  
Chaibou Issoufou ◽  
Naziruddin Abdullah
Keyword(s):  
Qualitative Research ◽  
Public Interest ◽  
Research Methodology ◽  
Islamic Law ◽  
Physical Punishment ◽  
Legal Analysis ◽  
The Public ◽  
Financial Products ◽  
Qualitative Research Methodology ◽  
The Right

Purpose of Study: In the modern Islamic financial products and services, legal guarantee is becoming increasing important in the structuring of products, particularly those used in the investments. As a result of the increasing importance of the concept of guarantee, this paper specifically revisits the conceptual analyses of legal guarantee in Islamic law with a view to providing the basis for the use of this concept in structuring relevant Shari‘ah-compliant products. Methodology: The study adopts a comparative legal analysis of the views of classical Muslim jurists. The researchers examine the principles relating to guarantee, such as the meaning of guarantee, its authority, its pillars and conditions. Other principles include modes of guarantee and its objective.  The paper also examines the principles and terms of guarantee necessitates an assessment of the effect of the guarantee contract on the contracting parties, particularly whether the guarantor has the right of recourse to the guaranteed person for a refund. The researchers adopt qualitative research methodology to analyse and examine the data. Results: It was found that although guarantee is permissible in Islamic law, it is not absolute. In fact, to make it more Islamically acceptable or Shari’ah compliant there are other terms and conditions that the contract has to fulfil especially by the guarantor, guaranteed person as well as guaranteed asset. Results: Legal Guarantee is permissible in Islamic law to prevent harm that may happen to the traders and investors, and protect the public interest.  Classical and contemporary Muslim scholars’ views are that guarantee is not limited to guarantee for debt, but extended to the guarantee for other commercial transactions like guarantee of future liability and physical punishment.  Guarantee has its own pillars and conditions, which should be met in order for a guarantee contract to be a valid one. The researchers suggest to conduct empirical research in order to have a clear picture on the concept of legal guarantee for structuring Islamic financial products.

Application of Statutes of Limitations to Islamic Banking: The Case of Malaysia

2020 ◽  
Vol 17 (1) ◽  
pp. 56-69
Author(s):  
Aishath Muneeza ◽  
Zakariya Mustapha
Keyword(s):  
Qualitative Research ◽  
Financial Institutions ◽  
Research Methodology ◽  
Islamic Law ◽  
Islamic Banking ◽  
Legal Action ◽  
Qualitative Research Methodology ◽  
The Right ◽  
Limitation Of Action ◽  
Insight Into

Limitations of action designate extent of time after an event, as set by statutes of limitations, within which legal action can be initiated by a party to a transaction. No event is actionable outside the designated time as same is rendered statute-barred. This study aims to provide an insight into application and significance of Limitations Act 1950 and Limitation Ordinance 1952 to Islamic banking matters in Malaysia as well as Shariah viewpoint on the issue of limitation of action. In conducting the study, a qualitative research methodology is employed where reported Islamic banking cases from 1983 to 2018 in Malaysia were reviewed and analysed to ascertain the application of those statutes of limitations to Islamic banking. Likewise, relevant provisions of the statutes as invoked in the cases were examined to determine possible legislative conflicts between the provisions and the rule of Islamic law in governing the right and limitation of action in Islamic banking cases under the law. The reviewed cases show the extent to which statutes of limitations were invoked in Malaysian courts in determining validity of Islamic banking matters. The limitation provisions so referred to are largely sections 6(1)(a) and 21(1) Limitations Act 1953 and section 19 Limitation Ordinance 1953, which do not conflict with Shariah viewpoint on the matter. This study will prove invaluable to financial institutions and their customers alike in promoting knowledge and creating awareness over actionable event in the course of their transactions.

scholarly journals Fatwa Analysis on Bone China Products and Its Halal Solution

2018 ◽  
Vol 23 ◽  
pp. 53-66
Author(s):  
Mohd Mahyeddin Mohd Salleh ◽  
Irwan Mohd Subri
Keyword(s):  
Qualitative Research ◽  
Research Methodology ◽  
Document Analysis ◽  
The Public ◽  
Bone China ◽  
Animal Bones ◽  
Qualitative Research Methodology ◽  
The Law ◽  
The Difference

This article discusses the use of animal bones in bone China products from halal and haram perspective. The main problem of the study due to the public confusion as a result of the difference views on halal and haram status of bone China products. The objectives of the study are to analyze the Shariah’s view and current fatwa on the law of utilizing animal bones, thus proposing a halal legal solution to the issue studied. The qualitative research methodology was used in this study through two approaches which are document analysis and interview. The study found that the cattle bones were the raw ingredients used by most of the bone China’s manufacturers. The analysis of fuqaha views found that only halal animal bones which has been slaughtered according to Shariah law were agreed to be halal (permissible), while pork bones was agreed to be haram (prohibited). However, there are disagreements among Islamic scholars for the bones of carcasses other than pigs. This arising from their difference interpretation on Shariah's arguments comprising the Qur'an, hadith, qiyās and maslahah. In the case of using animal bones in bone China products, the fatwa that permitted its use is found to be stronger, provided that it is not susceptible to pigs, based on the theory of transformation through burning (istiḥālah bi al-iḥrāq). However, among halal alternatives to bone China are clay and melamine-based products which are found to be stronger and cheaper than bone China.

scholarly journals THE DIVISION OF EXECUTIVE POWER BETWEEN THE PRESIDENT DE LA REPUBLIQUE AND THE PREMIER MINISTRE IN FRANCE UNDER THE CONSTITUTION OF THE FIFTH FRENCH REPUBLIC

2020 ◽  
Vol 5 (2) ◽  
Author(s):  
Nayli Suroya
Keyword(s):  
Qualitative Research ◽  
Research Methodology ◽  
Prime Minister ◽  
Executive Power ◽  
Historical Approach ◽  
French Government ◽  
Qualitative Research Methodology ◽  
The Republic ◽  
The Right

This article explains the development of the French government system and the division of executive power between President de la République and Premier Ministre after the change from the fourth constitution to the fifth constitution of the republic. This research applies a qualitative research methodology using a historical approach. The results of this study show that France is one of four countries implementing a mixed government system. The President and the Prime Minister, who are the executive authorities, should both lead the country. The role of the President and the Prime Minister may seem similar, but it is not the same. The President has the authority to elect the Prime Minister. Based on article 8 of the fifth constitution, the President has the right to elect and appoint the Prime Minister and terminate him/her if the concerned person declares his/her resignation from his/her government.

scholarly journals Filantropi Islam Solusi Atas Masalah Kemiskinan Akibat Pandemi Covid-19

2020 ◽  
Vol 3 (1) ◽  
pp. 35-66
Author(s):  
Fitra Rizal ◽  
Haniatul Mukaromah
Keyword(s):  
Qualitative Research ◽  
Content Analysis ◽  
Research Methodology ◽  
Purchasing Power ◽  
The Public ◽  
Analysis Techniques ◽  
Library Research ◽  
Qualitative Research Methodology ◽  
Descriptive Qualitative

Poverty is one of the macroeconomic problems that is a major concern, especially during the current pandemic. This study aims to describe the solutions offered by Islamic philanthropy (ZISWAF) to the problem of poverty caused by the Covid-19 pandemic. This research uses descriptive qualitative research methodology with content analysis techniques (content analysis) and library research. The results showed that ZISWAF is able to be a solution for the community to the problem of poverty that occurs. Efforts to alleviate poverty that can be done are to manage the funds that have been obtained from ZISWAF properly, with productive management. However, there must be some funds provided to the public that are consumptive in nature. If ZISWAF funds are managed properly and are productive, the hope is that these funds will not run out until whenever they are even able to develop so that their use will be bigger and wider. ZISWAF funds which are consumptive in nature will increase the demand and purchasing power of the community, so that the community will be more prosperous. Meanwhile, productive funds are able to increase investment activities and company productivity (business activities) so that it is able to increase the use of full labor (reduce unemployment) and ultimately improve community welfare so that poverty is reduced. This proves that Islamic philanthropy can be a solution to the problem of poverty. Kemiskinan merupakan salah satu masalah makroekonomi yang menjadi perhatian utama, khususnya pada masa pandemi saat ini. Penelitian ini bertujuan untuk memamparkan solusi yang ditawarkan oleh filantropi Islam (ZISWAF) atas masalah kemiskinan yang diakibatkan oleh pandemi Covid-19. Penelitian ini menggunakan metodologi penelitian kualitatif deskriptif dengan teknik content analysis (analisis isi) dan riset kepustakaan (library research). Hasil penelitian menunjukkan bahwa ZISWAF mampu menjadi solusi bagi masyarakat atas masalah kemiskinan yang terjadi. Upaya pengentasan kemiskinan yang dapat dilakukan adalah dengan mengelola dana yang telah diperoleh dari ZISWAF dengan baik, dengan pengelolaan yang  produktif. Walaupun demikian harus ada sebagain dana yang diberikan kepada masyarakat yang bersifat konsumtif. Dana ZISWAF jika dikelola dengan baik dan bersifat produktif harapanya adalah dana tersebut tidak akan habis sampai kapanpun bahkan mampu berkembang sehingga pemanfaatanya akan semakin besar dan luas. Dana ZISWAF yang bersifat konsumtif akan meningkatkan permintaan dan daya beli masyarkat, sehingga masyarakat semakin sejahtera. Sedangkan dana yang bersifat produktif mampu meningkatkan kegiatan investasi dan produktifitas perusahaan (kegiatan bisnis) sehingga hal tersebut mampu meningkatkan penggunaan tenaga kerja penuh (mengurangi pengangguran) dan pada akhirnya meningkatkan kesejahteraan masyarakat sehingga kemiskinan semakin berkurang. hal tersebut membuktikan bahwa filantropi Islam mampu menjadi solusi atas masalah kemiskinan.

scholarly journals MAKSIMALISASI POTENSI ZAKAT MELALUI PENINGKATAN KESADARAN MASYARAKAT

2018 ◽  
Vol 3 (2) ◽  
pp. 185
Author(s):  
SITI NURHASANAH ◽  
SURYANI SURYANI
Keyword(s):  
Qualitative Research ◽  
Research Methods ◽  
Research Method ◽  
Islamic Law ◽  
The Public ◽  
The People ◽  
Poor Families ◽  
The Government ◽  
The Right ◽  
To Receive

The theme of the article is: zakat management. The purpose of the article is: to examine the potential of zakat to overcome poverty. The research method used in this research is qualitative research methods. Zakat is a property that must be issued by a Muslim to give to those who have the right to receive it in accordance with Islamic law. The analysis shows that zakat can reduce the number of poor families from 84% to 74%. This shows the extraordinary potential of zakat which can prosper the people. Therefore the people need to be made aware of the importance of fulfilling the obligation of zakat. This awareness can be through socialization and education to the public related to the law, the wisdom of zakat, the assets of the zakat object as well as the procedures for calculation, and the relation between zakat and taxes. This is the duty of the government and the community to continue to campaign for zakat.

scholarly journals PASUGIHAN ORANG BANJAR: Studi Identifikasi Prilaku dan Amaliah Pasugihan Orang Banjar di Kalsel

2014 ◽  
Vol 2 (2) ◽  
pp. 89
Author(s):  
Abdul Sani
Keyword(s):  
Qualitative Research ◽  
Research Methodology ◽  
Interview Techniques ◽  
Qualitative Research Methodology ◽  
Rich People ◽  
The Rich ◽  
The Right

‘Pasugihan’ of Banjar people (getting wealth by unusual ways) intended in this paper is three prototypes. First, the wealthy Banjar people (wealth and money). But, they get it through the ‘left-way’, which maintains genies (genie mating), spirits (tuyul), stealth swine (Babi ngepet), usues Kuyang oil, and etc. Second, they take the wealth through the ‘right-way’, which gets the wealth by doing Islamic ritual, such as fasting and reading sura Waqiah, doing Dhuha prayer, reading sura Alfatihah, even combining with Lailatul Qadr. This group also includes its own myth in society’s view of Banjar people. Third, the rich people who gets the wealth mythology irrational and rational. Most of this paper is the result of qualitative research methodology by relying interview techniques.

scholarly journals Nalar Kritis Pelanggaran Hak Cipta dalam Islam

2020 ◽  
Vol 2 (1) ◽  
pp. 1-24
Author(s):  
Fitra Rizal
Keyword(s):  
Qualitative Research ◽  
Research Methodology ◽  
Islamic Law ◽  
Copyright Infringement ◽  
Research Approach ◽  
Copyright Holder ◽  
Adverse Action ◽  
Library Research ◽  
Qualitative Research Methodology ◽  
The Mind

Copyright infringement is the use or adverse action done by another party to the creator or copyright holder. This study aims to discuss critically how Islam views infringement in copyright. This research uses a qualitative research methodology using a descriptive-interpretative library research approach. The results showed that in the concept of religion and the State all forms of use of property rights of others without the permission of the official owner is a crime and sin. Such is the case in the case of copyright infringement. Copyright infringement in Islam is strictly prohibited because of the element of deception, is another form of theft, kills the creativity and the spirit of thinking of the inventors of the work, and violates the goal of Islamic law which is to damage the mind. Pelanggaran hak cipta merupakan pemanfaatan atau dan tindakan merugikan yang dilakukan pihak lain terhadap pencipta atau pemegang hak cipta. Penelitian ini bertujuan untuk membahas secara kritis bagaimana Islam memandang pelanggaran dalam hak cipta. Penelitian ini menggunakan metodologi penelitian kualitatif dengan menggunakan pendekatan kepustakaan (library research) deskriptif-interpretatif. Hasil penelitian menunjukkan bahwa dalam konsep agama dan Negara segala bentuk penggunaan hak milik orang lain tanpa seizin pemilik resmi merupakan sebuah kejahatan dan dosa. Hal tersebut seperti yang terjadi dalam kasus pelanggaran hak cipta. Pelanggaran hak cipta dalam Islam sangat dilarang karena  adanya unsur pembohongan, merupakan bentuk lain dari tindakan pencurian, membunuh kreatifitas dan semangat berfikir para penemu karya, dan melanggar tujuan syariat Islam yaitu merusak akal (hasil karya).

scholarly journals Exploring Islamic Injunctions on Remission of Sentences

2020 ◽  
Vol V (IV) ◽  
pp. 1-9
Author(s):  
Sadia Tabassum ◽  
Bakht Munir ◽  
Omar Mahmood Wattoo
Keyword(s):  
Qualitative Research ◽  
Research Methodology ◽  
Islamic Law ◽  
Qualitative Research Methodology

The most significant and all-encompassing purpose of punishments in Islamic law is to make the offender repent and mend his ways. For this purpose, Islamic law provides various provisions both at the preconviction as well as post-conviction stages. With qualitative research methodology and Islamic injunctions, this research aims to examine, at the pre-conviction stage, provisions about repentance and expiation on the part of the offender, suspension of punishment in case of voluntary surrender, probation after repentance and surrender and payment of compensation to the victims of the offence. At the post-arrest and conviction stage, Islamic law provides various relaxations and creates space for repentance and reform, which include obliteration of the punishments of apostasy and blasphemy, considering denial by the accused of the commission of the offence, obliteration of the hudud and qisas punishments, and obliteration of the siyasah punishments.

scholarly journals The Role of Wasi in the Administration of Minor’s Property under Provisions of Islamic law in Malaysia (Peranan Wasi Dalam Pentadbiran Harta Kanak-Kanak di bawah Peruntukan Undang-Undang Islam di Malaysia)

2020 ◽  
Vol 17 (3) ◽  
pp. 170-183
Author(s):  
Badruddin Hj Ibrahim
Keyword(s):  
Qualitative Research ◽  
Research Methodology ◽  
Islamic Law ◽  
Legal Authority ◽  
Legal Provisions ◽  
Qualitative Research Methodology ◽  
The Law ◽  
And Control

This paper deals with the role of wasi in the administration of minor’s property under the provision of codified Islamic law in Malaysia. The focus of the discussion is on the power of wasi in managing minor’s property under his legal authority. The question is: To what extent the provision of the Islamic law that is codified in Malaysia prescribes the duties and powers of wasi in relation to the management of minor’s property? Further, what is the safeguard that has been taken by the legal provisions in order to ensure that the minor’s property is well managed and is not infringed and embezzled by the wasi? The research adopts qualitative research methodology which focuses on an examination of the statutory provisions on the role of wasi, including his duties and powers and control in the administration of minor’s property. The paper also discusses the appointment of wasi, his position and his condition in administering minor’s property and the situation where the wasi is removed from his office. It is found that there is the inadequacy of the law in relation to the role of wasi in the administration of minor’s property. In addition to that, some provisions require further clarification and elaboration. Finally, the research found that there are still rooms for improvement with regards to codified Islamic law relating to the role of wasi in the administration of minor’s property.  Keywords: Wasi, Administration, Minor’s property, Islamic law, Malaysia.    Abstrak Kertas kerja ini adalah berkaitan dengan peranan wasi dalam pentadbiran harta kanak-kanak di bawah peruntukan undang-undang Islam yang dibukukan di Malaysia. Fokus perbincangan adalah tentang kuasa wasi dalam menguruskan harta kanak-kanak di bawah pengawasan undang-undang seorang wasi. Persoalannya, sejauh manakah peruntukan Undang-undang Islam yang telah dibukukan di Malaysia menggariskan tugas-tugas dan kuasa wasi berkaitan dengan pengurusan harta kanak-kanak. Seterusnya, apakah perlindungan yang diambil oleh peruntukan undang-undang untuk memastikan harta kanak-kanak diuruskan dengan baik dan tidak dilanggar dan diselewengkan oleh wasi. Penyelidikan ini menggunakan kaedah penyelidikan kualitatif yang memfokuskan kepada kajian peruntukan undang-undang tentang peranan wasi termasuklah tugas-tugas dan kuasa wasiserta pengawalannya di dalam pentadbiran harta kanak-kanak. Kertas kerja ini juga membincangkan tentang perlantikan wasi, kedudukan serta syarat-syarat dalam mentadbir harta kanak-kanak serta keadaan bilamana wasi dilucutkan dari jawatannya. Hasil penyelidikan mendapati bahawa peruntukan undang-undang yang ada adalah tidak mencukupi dalam mentadbir harta kanak-kanak. Sebagai tambahan, terdapat juga peruntukan undang-undang yang memerlukan penjelasan dan penerangan. Akhirnya, penyelidikan ini mendapati masih ada ruang untuk penambahbaikan bagi peruntukan undang-undang Islam yang telah dibukukan berkaitan dengan pentadbiran harta kanak-kanak. Kata Kunci: Wasi, Pentadbiran, Harta kanak-kanak, Undang-undang Islam, Malaysia.

scholarly journals Penalty and Compensation in Financial Commitments - A Critical Shariah Review

2021 ◽  
Vol 38 (2) ◽  
pp. 253-266
Author(s):  
Abdulazeem Abozaid
Keyword(s):  
Qualitative Research ◽  
Comparative Analysis ◽  
Research Methodology ◽  
Islamic Law ◽  
Islamic Finance ◽  
Finance Industry ◽  
Qualitative Research Methodology ◽  
Actual Harm ◽  
The Subject ◽  
Market Practices

Purpose: The aim of this paper is to critically review the position of Shariah and contemporary ijtihād on penalty provisions in financial commitments. It is also to show that some relevant fiqh resolutions have dealt differently with similar issues despite the absence of any grounds for such differentiation and to show how penalty provision in contracts has been expanded to include what cannot be accommodated by Shariah principles. All this necessitates a review of those stances, as they may have both unnecessarily burdened the Islamic finance industry and challenged some Shariah principles. Methodology: This paper employs a qualitative research methodology that adopts textual and fiqh comparative analysis approaches. The methodology also incorporates a macro perspective for treating the subject by analyzing the issues being examined from the perspective of Maqāṣid al-Shariah (Shariah objectives) in consideration of existing market practices and needs. Findings: This study primarily indicates that penalties or compensation provisions in contracts are accepted if they are intended to prevent actual harm rather than for gain, because profiting merely through stipulation is forbidden in Islamic law. Originality: Although this paper addresses an issue that has been addressed before, it acquires significance and value by setting the basis for what constitutes a valid penalty provision in Islamic finance and by showing areas of conflict and inconsistency in some of the contemporary stands on the matter, thus necessitating a review of these stances.

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