Pemakaian maslahah terhadap konsep nilai masa wang dalam sistem perbankan Islam di Malaysia. Jurnal Fiqh, 6. pp. 87-106. ISSN 1823-089X (2009)
Abstract
The concept of time value of money assumes a particular importance in modern financial system. Even though the concept is deemed substantial justification for the legality of riba, it is widely applied in Islamic banking contracts particularly in the deferred contracts of exchange such as al-bay’ bi thaman ajil, ijarah, salam and istisna’. However, it is found that its application in the above said contracts actualizes maslahah for both contracting parties. This fact in turn indicates that justice for both parties is upheld throughout the application of the concept of time value of money in Islamic transaction. This paper analyzes the concept of time value of money in the light of maslahah which serves as the backbone for the exercise of many deferred contracts of exchange. It also emphasizes on some aspects of ambiguity in the operation of Islamic
| Item Type: | Article |
|---|---|
| Keywords: | Maslahah, Islamic Banking, Time Value of Money, AlBay’ Bithaman Ajil, Istisna' |
| Taxonomy: | By Niche > Islamic Banking > Banks and Banking > Finance By Niche > Islamic Banking > Banks and Banking > Religious Aspects |
| Local Content Hub: | Niche > Islamic Banking |
| Depositing User: | Ilya Nur Fateen Othman |
| Date Deposited: | 14 Apr 2023 09:10 |
| Last Modified: | 14 Apr 2023 09:10 |
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