Floating charge debenture as security from shari'ah perspective

Floating charge debenture is one type of security adopted by the Islamic Banks in Malaysia for non-individual customers. For Islamic banks, it is crucial to ensure that all of their banking products and services are SharÊÑah compliant. However, there is no specific ruling from Bank Negara Malaysia...

Full description

Bibliographic Details
Main Authors:	Mohd Sharoni, Syairazi Muhammad Husni, Hassan, Rusni
Format:	Article
Language:	English
Published:	IIUM Press 2018
Subjects:	HG3368 Islamic Banking and Finance
Online Access:	http://irep.iium.edu.my/69140/ http://irep.iium.edu.my/69140/ http://irep.iium.edu.my/69140/1/Article-Floating%20Charge-Journal%20of%20Fiqh-IIUM-Rusni.pdf

id	iium-69140
recordtype	eprints
spelling	iium-691402019-01-11T03:16:33Z http://irep.iium.edu.my/69140/ Floating charge debenture as security from shari'ah perspective Mohd Sharoni, Syairazi Muhammad Husni Hassan, Rusni HG3368 Islamic Banking and Finance Floating charge debenture is one type of security adopted by the Islamic Banks in Malaysia for non-individual customers. For Islamic banks, it is crucial to ensure that all of their banking products and services are SharÊÑah compliant. However, there is no specific ruling from Bank Negara Malaysia on SharÊÑah compliance status of floating charge debenture. Therefore, the purpose of this paper is to determine the soundness of floating charge debenture as security by Islamic banks in Malaysia from the SharÊÑah perspective. This paper adopted a qualitative method that referred to primary and secondary SharÊÑah sources, as well as other related sources such as guidelines of Bank Negara Malaysia and Accounting and Auditing Organization for Islamic Financial Institution. The paper found that it is permissible for an Islamic bank to accept floating charge debenture from non-individual customers as security with certain conditions. This paper suggests that the Bank Negara Malaysia should issue certain resolution related to this issue to arrange related applications in Islamic banks in Malaysia. IIUM Press 2018-12 Article PeerReviewed application/pdf en http://irep.iium.edu.my/69140/1/Article-Floating%20Charge-Journal%20of%20Fiqh-IIUM-Rusni.pdf Mohd Sharoni, Syairazi Muhammad Husni and Hassan, Rusni (2018) Floating charge debenture as security from shari'ah perspective. International Journal of Fiqh and Usul al-Fiqh Studies, 2 (2). pp. 103-111. E-ISSN 2600-8408 http://journals.iium.edu.my/al-fiqh/index.php/al-fiqh/article/view/98
repository_type	Digital Repository
institution_category	Local University
institution	International Islamic University Malaysia
building	IIUM Repository
collection	Online Access
language	English
topic	HG3368 Islamic Banking and Finance
spellingShingle	HG3368 Islamic Banking and Finance Mohd Sharoni, Syairazi Muhammad Husni Hassan, Rusni Floating charge debenture as security from shari'ah perspective
description	Floating charge debenture is one type of security adopted by the Islamic Banks in Malaysia for non-individual customers. For Islamic banks, it is crucial to ensure that all of their banking products and services are SharÊÑah compliant. However, there is no specific ruling from Bank Negara Malaysia on SharÊÑah compliance status of floating charge debenture. Therefore, the purpose of this paper is to determine the soundness of floating charge debenture as security by Islamic banks in Malaysia from the SharÊÑah perspective. This paper adopted a qualitative method that referred to primary and secondary SharÊÑah sources, as well as other related sources such as guidelines of Bank Negara Malaysia and Accounting and Auditing Organization for Islamic Financial Institution. The paper found that it is permissible for an Islamic bank to accept floating charge debenture from non-individual customers as security with certain conditions. This paper suggests that the Bank Negara Malaysia should issue certain resolution related to this issue to arrange related applications in Islamic banks in Malaysia.
format	Article
author	Mohd Sharoni, Syairazi Muhammad Husni Hassan, Rusni
author_facet	Mohd Sharoni, Syairazi Muhammad Husni Hassan, Rusni
author_sort	Mohd Sharoni, Syairazi Muhammad Husni
title	Floating charge debenture as security from shari'ah perspective
title_short	Floating charge debenture as security from shari'ah perspective
title_full	Floating charge debenture as security from shari'ah perspective
title_fullStr	Floating charge debenture as security from shari'ah perspective
title_full_unstemmed	Floating charge debenture as security from shari'ah perspective
title_sort	floating charge debenture as security from shari'ah perspective
publisher	IIUM Press
publishDate	2018
url	http://irep.iium.edu.my/69140/ http://irep.iium.edu.my/69140/ http://irep.iium.edu.my/69140/1/Article-Floating%20Charge-Journal%20of%20Fiqh-IIUM-Rusni.pdf
first_indexed	2023-09-18T21:38:09Z
last_indexed	2023-09-18T21:38:09Z
_version_	1777412959579930624

Floating charge debenture as security from shari'ah perspective

Similar Items