Islamic Economics Institute

Wednesday Academic Dialogue (1-1439)

Yes to Real Banking Murabahah

Even with a binding promise

Full Text

Mohammad Anas Al-Zarqa

Researcher, Shurah Investment, Kuwait

Wednesday 13-09-2017 (22-12-1438H)


This paper discusses the principle of committing to the promise in the Murabaha banking contract and shows that there are two legal suspicions that are forbidden in the Prophetic Sunnah. The first is that it involves selling what you do not own. The paper shows that banks overcome the first suspicion easily. All the councils and jurists who are entitled to binding Murabaha reiterate that the binding promise agreement between the client and the bank should not be regarded as a sale contract. But require that the Murabaha sale contract be established after the bank has acquired the commodity and entered into its assets. The second question relates to the binding promise: The researcher discusses the reasons that the modern jurists who are confidant to him have contradicted the old scholars, especially Malikah and Al- Shaafa'i, and who are opposing such a binding promise?. The paper linked the suspicion to the challenges facing the Islamic banks industry and that it's really massive and able to easily kills the fetus in its womb. The lack of substitutes for a binding Murabaha without legal resemblance and economic problems is another reason for this difference. The researcher analyzed the impact of the promise of Murabaha and discusses the question of the similarity between Murabaha profit and Riba and concludes his findings with important lessons and conclusions. It is here to say that the real and obligatory banking Murabaha is one of the best solutions available in the present circumstances to avoid riba of debt and it is acceptable to those who do not The best and best Murabaha without obligation, and cannot better the best financing of the posts where he managed. I also believe that the majority of modern scholars have the right to make Murabaha with the obligation to compensate for harm only in the case of the promise of the promise. They did so thirty years ago, and they were diligent. To say that a binding Murabaha was and still is a prudent policy of supporting Islamic banking, within the limits currently available to it, does not have the power to reform and change to the best.

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