On the question of gambling in giving prizes to the holders of savings certificates: an Islamic analysis on Malaysian practice

The focal point of this paper is to analyze the issue of gambling in the practice of prize-giving to the selected holders of Premium savings Certificate (PSC), a product offered by Bank Saimpanan Nasional (BSN), the national savings bank of Malaysia. The paper attempts to provide the Islamic juristi...

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Main Authors:	Md. Sawari, Mohd. Fuad, Hassan, Razi, Abdullah, Faruk
Format:	Article
Language:	English
Published:	Institute of Interdisciplinary Business Research 2010
Subjects:	BP140 Islamic law (Fiqh) HG1501 Banking KBP1 Islamic law.Shariah.Fiqh
Online Access:	http://irep.iium.edu.my/6862/ http://irep.iium.edu.my/6862/ http://irep.iium.edu.my/6862/4/On_The_Question_of_Gambling_in_Giving_Prizes_to_the_Holders_of_Savings.pdf

id	iium-6862
recordtype	eprints
spelling	iium-68622012-02-01T03:05:27Z http://irep.iium.edu.my/6862/ On the question of gambling in giving prizes to the holders of savings certificates: an Islamic analysis on Malaysian practice Md. Sawari, Mohd. Fuad Hassan, Razi Abdullah, Faruk BP140 Islamic law (Fiqh) HG1501 Banking KBP1 Islamic law.Shariah.Fiqh The focal point of this paper is to analyze the issue of gambling in the practice of prize-giving to the selected holders of Premium savings Certificate (PSC), a product offered by Bank Saimpanan Nasional (BSN), the national savings bank of Malaysia. The paper attempts to provide the Islamic juristic decision on this issue. The paper finds that based on the analogical reasoning of the Shari ah, PSC has different characteristics from gambling. Moreover, a number of fatwa issued by the scholars from Malaysia affirm that, there is no existence of gambling in PSC. The paper adopts descriptive and analytical methods. It relies on the classical and contemporary Arabic literatures as well the Malay and English literatures. Furthermore, interview method is used, in order to obtain first hand information. Understanding the Shari ah ruling pertaining to the gambling issue of PSC has a great impact on the Muslim community to decide whether they will purchase this product or reject it. The paper would be a refereed literature to understand the Shari ah appraisal of giving prizes to the holders of savings certificates. The study is limited to the gambling issue and recommends further study on the underlying contract and the field of investment of PSC. Institute of Interdisciplinary Business Research 2010-09 Article PeerReviewed application/pdf en http://irep.iium.edu.my/6862/4/On_The_Question_of_Gambling_in_Giving_Prizes_to_the_Holders_of_Savings.pdf Md. Sawari, Mohd. Fuad and Hassan, Razi and Abdullah, Faruk (2010) On the question of gambling in giving prizes to the holders of savings certificates: an Islamic analysis on Malaysian practice. Interdisciplinary Journal of Contemporary Research in Business, 2 (5). pp. 560-573. ISSN 2073-7122 http://www.ijcrb.webs.com
repository_type	Digital Repository
institution_category	Local University
institution	International Islamic University Malaysia
building	IIUM Repository
collection	Online Access
language	English
topic	BP140 Islamic law (Fiqh) HG1501 Banking KBP1 Islamic law.Shariah.Fiqh
spellingShingle	BP140 Islamic law (Fiqh) HG1501 Banking KBP1 Islamic law.Shariah.Fiqh Md. Sawari, Mohd. Fuad Hassan, Razi Abdullah, Faruk On the question of gambling in giving prizes to the holders of savings certificates: an Islamic analysis on Malaysian practice
description	The focal point of this paper is to analyze the issue of gambling in the practice of prize-giving to the selected holders of Premium savings Certificate (PSC), a product offered by Bank Saimpanan Nasional (BSN), the national savings bank of Malaysia. The paper attempts to provide the Islamic juristic decision on this issue. The paper finds that based on the analogical reasoning of the Shari ah, PSC has different characteristics from gambling. Moreover, a number of fatwa issued by the scholars from Malaysia affirm that, there is no existence of gambling in PSC. The paper adopts descriptive and analytical methods. It relies on the classical and contemporary Arabic literatures as well the Malay and English literatures. Furthermore, interview method is used, in order to obtain first hand information. Understanding the Shari ah ruling pertaining to the gambling issue of PSC has a great impact on the Muslim community to decide whether they will purchase this product or reject it. The paper would be a refereed literature to understand the Shari ah appraisal of giving prizes to the holders of savings certificates. The study is limited to the gambling issue and recommends further study on the underlying contract and the field of investment of PSC.
format	Article
author	Md. Sawari, Mohd. Fuad Hassan, Razi Abdullah, Faruk
author_facet	Md. Sawari, Mohd. Fuad Hassan, Razi Abdullah, Faruk
author_sort	Md. Sawari, Mohd. Fuad
title	On the question of gambling in giving prizes to the holders of savings certificates: an Islamic analysis on Malaysian practice
title_short	On the question of gambling in giving prizes to the holders of savings certificates: an Islamic analysis on Malaysian practice
title_full	On the question of gambling in giving prizes to the holders of savings certificates: an Islamic analysis on Malaysian practice
title_fullStr	On the question of gambling in giving prizes to the holders of savings certificates: an Islamic analysis on Malaysian practice
title_full_unstemmed	On the question of gambling in giving prizes to the holders of savings certificates: an Islamic analysis on Malaysian practice
title_sort	on the question of gambling in giving prizes to the holders of savings certificates: an islamic analysis on malaysian practice
publisher	Institute of Interdisciplinary Business Research
publishDate	2010
url	http://irep.iium.edu.my/6862/ http://irep.iium.edu.my/6862/ http://irep.iium.edu.my/6862/4/On_The_Question_of_Gambling_in_Giving_Prizes_to_the_Holders_of_Savings.pdf
first_indexed	2023-09-18T20:16:01Z
last_indexed	2023-09-18T20:16:01Z
_version_	1777407792432283648

On the question of gambling in giving prizes to the holders of savings certificates: an Islamic analysis on Malaysian practice

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