Hashim, Siti Noraisyah

Jaliluddin, Nur Hanisah

Kayadibi, Saim

The International Islamic University Malaysia Repository

Islamic Banking and Finance Against ConventionalChapter 12173IntroductionBay' AI-'Einah: View of Scholars And Specification OnMalaysia ContextSiti Noraisyah Hashim, Nur Hanisah Jaliluddin67and Saim KayadibiWe have assigned to do assignment and the topic is general.Then our group have decided to choose bay" al-"einah as ourtopic of assignment. Bay" al-,,einah is a type of contentious sale.In Malaysia, Shariah scholars at the supervisory levels haveadvocate bay" al-,,einah as a mode of finance. Under the label ofsales, the contract of bay" al-"einah contains interest-bearingfeatures, such as earning a contractual return without theimplication of risk and value-addition. Seeking a broaderconsensus on the permissibility ofbay" al-"einah is thus critical.This assignment is also partly directed to Malaysian Shariahscholars outside the supervisory bodies do not fully supportbay" al-,,einah. There are many view of scholar that we get frommany sources such as internet, books, journal and alsodiscussion with the lecturer in class. The survey indicates thatbay" al-"einah can be applied under a state of darurah or whenthe maslahah of the Muslim people is under threat, which is notthe case in Malaysia. Since Shariah scholars in Middle-Easterncountries have condemned bay" al-"einah, it is crucial that adiversification policy is pursued to invite greater participationof global Islamic funds in Malaysia.67 Graduate Students, Faculty of Economics and Management Sciences,International Islamic University Malaysia (IIUM), Kuala Lumpur, Malaysia.

Bay' al-'Einah : view of scholars and specification on Malaysia context

http://irep.iium.edu.my/20518/1/Bay_AI-Einah_-_View_of_Scholars_And_Specification_On_Malaysia_Context.pdf

Bay' al-'Einah : view of scholars and specification on Malaysia context

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The International Islamic University Malaysia Repository