Possession is an important condition of the Islamic law of contract. Today, numerous banks are operating under Islamic banking principles. Therefore, it is an important requirement of the Islamic financial institutions to carry out transactions in accordance with the rules of Sharia. According to Sharia, any transaction without possession is considered void. On the other hand, possession is an important condition in all the modes of the Islamic finance, especially in a Murabaha contract. The concept of possession is simple; however, its implementation is difficult. This paper aims to discuss the practical issues of possession in execution of Murabaha Financing.
scite is a Brooklyn-based organization that helps researchers better discover and understand research articles through Smart Citations–citations that display the context of the citation and describe whether the article provides supporting or contrasting evidence. scite is used by students and researchers from around the world and is funded in part by the National Science Foundation and the National Institute on Drug Abuse of the National Institutes of Health.
hi@scite.ai
10624 S. Eastern Ave., Ste. A-614
Henderson, NV 89052, USA
Copyright © 2024 scite LLC. All rights reserved.
Made with 💙 for researchers
Part of the Research Solutions Family.