Transaction involving wealth that mixed between lawful and unlawful under Islamic law and its application in Islamic banking and practice

This study examines the issue of transaction involving wealth that mixed between lawful and unlawful or in other words legal and illegal under Islamic law and its application in Islamic Banking. The question is whether it is allowed to make a transaction with the possessor of mixed wealth (lawful an...

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Main Author:	Ibrahim, Badruddin
Format:	Conference or Workshop Item
Language:	English English
Published:	2015
Subjects:	KBP1 Islamic law.Shariah.Fiqh
Online Access:	http://irep.iium.edu.my/48814/ http://irep.iium.edu.my/48814/1/badinvite.pdf http://irep.iium.edu.my/48814/2/12Th_ASLIbadruddin.pdf

id	iium-48814
recordtype	eprints
spelling	iium-488142016-01-27T08:46:28Z http://irep.iium.edu.my/48814/ Transaction involving wealth that mixed between lawful and unlawful under Islamic law and its application in Islamic banking and practice Ibrahim, Badruddin KBP1 Islamic law.Shariah.Fiqh This study examines the issue of transaction involving wealth that mixed between lawful and unlawful or in other words legal and illegal under Islamic law and its application in Islamic Banking. The question is whether it is allowed to make a transaction with the possessor of mixed wealth (lawful and unlawful) in various kinds of transaction such as deposit taking, investment, sale, partnership and so forth. This is applicable in case if the party to the transaction has acknowledge that some wealth of another party comes from unlawful sources like interest (riba), gambling, prostitution, trading of human being or trading of prohibited items, etc. The discussion focusses on concept of lawful and unlawful wealth, the meaning of mixed wealth, and the position of Islamic law regarding the dealing involving mixed wealth between lawful and unlawful. The discussion also examines the current banking practices particularly in Malaysia on transaction involving wealth that mixed between lawful and unlawful. Examination on such issues will be based on the perspective of the Qura’an and the Sunnah as primary sources of Islamic law. It is then followed with the analysis of the view of Muslim jurist of four well known schools of law (Hanafis, Malikis, Shafi’is, and Hanbalis) as well as the view of contemporary Muslim scholars. In addition, the reference also will be made to legal opinions (fatawa) from some renowned Muslim scholars. The study will finally provide a clear guideline regarding the transaction involving mixed wealth and henceforth can be used as reference either by individual person or institution in this day. 2015-05-21 Conference or Workshop Item NonPeerReviewed application/pdf en http://irep.iium.edu.my/48814/1/badinvite.pdf application/pdf en http://irep.iium.edu.my/48814/2/12Th_ASLIbadruddin.pdf Ibrahim, Badruddin (2015) Transaction involving wealth that mixed between lawful and unlawful under Islamic law and its application in Islamic banking and practice. In: Law 2.0: New Challenges in Asia 12th Asian Law Institute Conference Thursday and Friday, 21 & 22 May 2015, Taiwan, 21 & 22 May 2015, Taiwan National University. (Unpublished)
repository_type	Digital Repository
institution_category	Local University
institution	International Islamic University Malaysia
building	IIUM Repository
collection	Online Access
language	English English
topic	KBP1 Islamic law.Shariah.Fiqh
spellingShingle	KBP1 Islamic law.Shariah.Fiqh Ibrahim, Badruddin Transaction involving wealth that mixed between lawful and unlawful under Islamic law and its application in Islamic banking and practice
description	This study examines the issue of transaction involving wealth that mixed between lawful and unlawful or in other words legal and illegal under Islamic law and its application in Islamic Banking. The question is whether it is allowed to make a transaction with the possessor of mixed wealth (lawful and unlawful) in various kinds of transaction such as deposit taking, investment, sale, partnership and so forth. This is applicable in case if the party to the transaction has acknowledge that some wealth of another party comes from unlawful sources like interest (riba), gambling, prostitution, trading of human being or trading of prohibited items, etc. The discussion focusses on concept of lawful and unlawful wealth, the meaning of mixed wealth, and the position of Islamic law regarding the dealing involving mixed wealth between lawful and unlawful. The discussion also examines the current banking practices particularly in Malaysia on transaction involving wealth that mixed between lawful and unlawful. Examination on such issues will be based on the perspective of the Qura’an and the Sunnah as primary sources of Islamic law. It is then followed with the analysis of the view of Muslim jurist of four well known schools of law (Hanafis, Malikis, Shafi’is, and Hanbalis) as well as the view of contemporary Muslim scholars. In addition, the reference also will be made to legal opinions (fatawa) from some renowned Muslim scholars. The study will finally provide a clear guideline regarding the transaction involving mixed wealth and henceforth can be used as reference either by individual person or institution in this day.
format	Conference or Workshop Item
author	Ibrahim, Badruddin
author_facet	Ibrahim, Badruddin
author_sort	Ibrahim, Badruddin
title	Transaction involving wealth that mixed between lawful and unlawful under Islamic law and its application in Islamic banking and practice
title_short	Transaction involving wealth that mixed between lawful and unlawful under Islamic law and its application in Islamic banking and practice
title_full	Transaction involving wealth that mixed between lawful and unlawful under Islamic law and its application in Islamic banking and practice
title_fullStr	Transaction involving wealth that mixed between lawful and unlawful under Islamic law and its application in Islamic banking and practice
title_full_unstemmed	Transaction involving wealth that mixed between lawful and unlawful under Islamic law and its application in Islamic banking and practice
title_sort	transaction involving wealth that mixed between lawful and unlawful under islamic law and its application in islamic banking and practice
publishDate	2015
url	http://irep.iium.edu.my/48814/ http://irep.iium.edu.my/48814/1/badinvite.pdf http://irep.iium.edu.my/48814/2/12Th_ASLIbadruddin.pdf
first_indexed	2023-09-18T21:09:10Z
last_indexed	2023-09-18T21:09:10Z
_version_	1777411136053837824

Transaction involving wealth that mixed between lawful and unlawful under Islamic law and its application in Islamic banking and practice

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