IDEAS home Printed from https://ideas.repec.org/a/ije/journl/v1y2003i2p87-112.html
   My bibliography  Save this article

JURISTIC VIEWPOINTS ON BAYC Al-C¡NAH IN MALAYSIA: A SURVEY

Author

Listed:
  • Saiful Azhar Rosly
  • Azizi Che Semanb

Abstract

In Malaysia, Shar¥cah scholars at the supervisory levels have advocated bayc al-c¥nah as a mode of finance. Under the label of al-bayc, the contract of al-bayc al-c¥nah contains interest-bearing features, such as earning a contractual return without the implication of risk and value-addition. Seeking a broader consensus on the permissibility of bayc al-c¥nah is thus critical. This study shows that Malaysian Shar¥cah scholars outside the supervisory bodies do not fully support al-bayc al-c¥nah. The survey indicates that bayc al-c¥nah can be applied under a state of èar´rah or when the ma§laúah of the Muslim people is under threat, which is not the case in Malaysia. Since Shar¥cah scholars in Middle-Eastern countries have condemned bayc al-c¥nah, it is crucial that a diversification policy is pursued to invite greater participation of global Islamic funds in Malaysia.

Suggested Citation

  • Saiful Azhar Rosly & Azizi Che Semanb, 2003. "JURISTIC VIEWPOINTS ON BAYC Al-C¡NAH IN MALAYSIA: A SURVEY," IIUM Journal of Economics and Management, IIUM Journal of Economis and Management, vol. 11(1), pages 87-112, June.
    • Handle: RePEc:ije:journl:v:1:y:2003:i:2:p:87-112
    as

    Download full text from publisher

    File URL: http://www.iium.edu.my/enmjournal/111art4.pdf
    Download Restriction: no
    ---><---

    More about this item

    Keywords

    Islamic financing; Bayc al-inah; riba;
    All these keywords.

    JEL classification:

    • G10 - Financial Economics - - General Financial Markets - - - General (includes Measurement and Data)
    • Z12 - Other Special Topics - - Cultural Economics - - - Religion

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ije:journl:v:1:y:2003:i:2:p:87-112. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Gairuzazmi Mat Ghani (email available below). General contact details of provider: https://edirc.repec.org/data/feiiumy.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.