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Modern Application of Bai` Al-Sarf "Currency Exchange" from Maqasid Al-Shari’ah Perspective: A Scoping Review

المصدر: مجلة الإسلام في آسيا
الناشر: الجامعة الإسلامية العالمية
المؤلف الرئيسي: Al Fijawi, Mohammed Farid Ali (Author)
المجلد/العدد: مج17, ع2
محكمة: نعم
الدولة: ماليزيا
التاريخ الميلادي: 2020
الشهر: اغسطس
الصفحات: 291 - 297
ISSN: 1823-0970
رقم MD: 1091562
نوع المحتوى: بحوث ومقالات
اللغة: الإنجليزية
قواعد المعلومات: IslamicInfo
مواضيع:
كلمات المؤلف المفتاحية:
Bai‖ Al-Sarf | Currency Exchange | Spot Seizing "Al-Taqabud fi Almajlis" | Equal Counter-Values "Al-Tamathul" | Sad Bab Al-Niza‖ "Closing the Door of Conflict" | Riba
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المستخلص: Bai' al-sarf widely known as currency exchange is an important sale contract both in classical and contemporary world. This scoping review looks into the objectives behind the rulings set by the Shari‖ah for this sale contract. These objectives are sorted out from the commentaries of the hadith and the deliberations of the jurists through tex-tual analysis method. Some of the modern applications such as T+2 and Islamic Foreign Currency Exchange (FX) Swap structures are briefly juxtaposed against the objectives of bai' al-sarf we discovered. Objectives of Shari‖ah rulings in spot exchange is to avoid falling into the sale of debt against debt (al-kali bi al-kali), prevention of payment delay by one of the counter parties, prevention of conflict between the counter parties, and last not least to avoid falling into exchange contracts that will induce riba.

ISSN: 1823-0970

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