Shariah investment agreement : the legal tool for risk-sharing in islamic finance / / Syed Adam Alhabshi, Abbas Mirakhor, Haji Mohd. Na'im Haji Mokhtar, Syed Othman Alhabshi

• Record Nr.: UNINA9910554273003321
• Autore: Alhabshi Adam, Syed
• Pubbl/distr/stampa: Berlin, Germany : , : De Gruyter Oldenbourg, , [2021]; ©2021
• ISBN: 3-11-056275-8; 3-11-055974-9
• Descrizione fisica: 1 online resource (192 pages) : illustrations
• Collana: De Gruyter studies in Islamic economics, finance and business ; ; volume 6
• Disciplina: 346.167092; 346.167082
• Soggetti: Finance (Islamic law); Investments (Islamic law); Finance - Islamic countries
• Lingua di pubblicazione: Inglese
• Formato: Materiale a stampa
• Livello bibliografico: Monografia
• Nota di bibliografia: Includes bibliographical references and index.
• Nota di contenuto: Frontmatter -- Acknowledgements -- Foreword -- Contents -- Chapter 1 Introduction -- Chapter 2 The Shariah: Refining Bay’ and How It Can Be Applied -- Chapter 3 The Common Law: Its Background and Applicability to Bay’ -- Chapter 4 The Shariah Investment Agreement: A Solution to Islamic Investment -- Chapter 5 Policy Recommendations and Future Research -- Chapter 6 Conclusion -- Appendix A Key Quranic Ayahs and Translation -- Appendix B Commodity Murabahah Case Study -- Appendix C Comparative Analysis of Musharakah by Bank Negara Malaysia and AAOIFI -- Appendix D Case Study: Shariah-Compliant Securities as Determined by the SAC of SC (as at 2016) -- References -- List of Abbreviations -- List of Cases -- List of Legislations -- About the Authors -- Index
• Sommario/riassunto: Risk-sharing investment is currently the buzz word in Islamic finance. However, there is an incongruence in applying multilayered and opaque Tijarah contracts for investment purposes. This has contributed to the divergence between Shariah and Common Law and caused tremendous ; problems and systemic legal risks to Islamic finance. The authors of Shariah Investment Agreement introduce a legal tool in the form of a Shariah Investment Agreement carefully drafted to ensure that it is Shariah-compliant and can be applied in Common Law jurisdictions as well, so as to allow for the execution of risk-sharing investment in Islamic finance. It details the building blocks and key considerations that must be noted when drafting such agreements so the investor and investee will know what to expect when entering into such a contract. Proper implementation of the Shariah Investment Agreement will pave a clear route to a harmonious convergence between Shariah and Common Law and lead to Islamic finance developing further to become a stronger, unstoppable force in the finance industry.