FINANCE BY SHARING AT ISLAMIC BANKS /REVIEW METHODOLOGY AND FUTURISTIC VISION
Keywords:
Musharaka, Islamic financing formulas, Islamic banksAbstract
Musharaka is one of the Islamic financing forms that an Islamic bank, wherever it is, is not free from dealing with, and this formula transforms the bank from a lender waiting for interest from (the borrower) to a partner who shares the result of the work (profit or loss), and thus the bank will be keen to study the project more seriously, Participation projects can contribute effectively to the development of the country's economy. This study aimed to present and discuss one of the most important Islamic financing formulas, and the most widely used one (after Murabaha) in most countries of the world, which is the “musharaka” financing formula. applied. The problem of the study is the importance of the partnership financing formula, but it still occupies the second place (after Murabaha) in the methods of financing investors adopted by most Islamic banks. The following question emerges from this problem: - How can we develop the Musharakah financing system to be more used in Islamic banks? The researchers used the analytical descriptive approach in presenting the problem, reviewing the jurisprudential opinions, and analyzing the reality in order to reach useful suggestions
References
Ibtisam Saed, The Role of Islamic Finance Mechanisms in Raising the Financing Efficiency of the Banking System, Ph.D. Thesis, majoring in Money and Finance, Mohamed Kheidar University, Biskra, 2017.
Ibrahim Abd al-Hamid, the introductory edition of the Encyclopedia of Jurisprudence, the subject of the company, 1997.
Ibn Battal, Abu Al-Hassan Ali bin Khalaf bin Abdul-Malik, Explanation of Sahih Al-Bukhari, Al-Rushd Library, Saudi Arabia, Riyadh, 2nd Edition, 2003.
Ahmed Safar, Islamic Banks: Operations, Risk Management, and the Relationship with Central and Conventional Banks, Union of Arab Banks, Beirut, Lebanon, 2005.
Ahmed Mohamed Mahmoud Nassar, Jurisprudence of Participation in Islamic Banks, a bulletin issued by the General Council for Islamic Banks and Financial Institutions, Bahrain.
Ahmed Mohieldin Ahmed, Application of Mudarabah and Fixed and Diminishing Musharakah in Banking Finances, a working paper presented to the Fourth Conference of the Sharia Boards of Islamic Financial Institutions, Bahrain, 2004.
Ismail Shendi, Diminishing Participation, a scientific paper presented to the Islamic Economics and Banking Business Conference, Hebron University, Palestine, 2009.
Amir Abdel Latif Mashhour, Investment in the Islamic Economy, Madbouly Press, Cairo, 1991.
Al-Bukhari, in: Sahihah 2/882, in: The Book of Partnership, Chapter on Evaluating Things Between Partners at a Fair Value, No. (2359). And Muslim, in: Sahihah 2/1139, in: The Book of Manumission, No. (1501)
Bakr Rayhan: Central Bank supervision of Islamic banks, from the website www.arablawinfo.com
Jalal Wafaa Al-Badri Muhammadin, Islamic banks, a comparative study of systems with the State of Kuwait and other countries, Letters of the Industrial Bank of Kuwait No. 84, Kuwait, 2006.
Theyab Abdul Karim Aqel, The General Reasons for the Termination of the Partnership in Islamic Jurisprudence, Studies Journal, Deanship of Scientific Research, University of Jordan, Volume 25, 1998.
Rasheed Derghal, The Role of Banks in Mobilizing Financial Resources for Development, Unpublished Master Thesis, Haj Lakhdar University, 2001.
Zaqawi Amal, Aqq to Participation in Islamic Banks, Master Thesis, specializing in Business Law, Faculty of Law, University of Algiers 1, 2011.
Al-Zayadat, Abdel Hafeez, The Business Company and Its Rulings in Islamic Jurisprudence, 2008.
Suleiman Nasser, The Relationship of Islamic Banks to Central Banks in Light of Modern International Changes, Al-Riyam Library, Algeria, 2006.
Suleiman Nasser, Abdel Hamid Boucherma, Requirements for the Development of Islamic Banking in Algeria, an article published in the Researcher Magazine, Issue 7, 2009-2010.
Shihab Ahmed Saeed Al-Azzazi, Islamic Banks Department, Dar Al-Nafais for Publishing and Distribution, Edition 1, Amman, 2011
Al-Sahih al-Jawhari 4/1593, article (shirk), Lisan al-Arab Ibn Manzoor 10/448, article (shirk), Lexicon of Language Measures by Ibn Faris 3/256, article (shirk).
Aisha Al-Sharqawi Al-Malqi, Islamic Banks, An Experience Between Jurisprudence, Law and Application, Arab Culture Center, Casablanca, Morocco, 2000.
Abd al-Sattar Abu Ghuddah, diminishing participation and its legal controls, Journal of the Islamic Fiqh Academy, No. 15, Muscat, Oman, 2004.
Abdullah bin Masoud Al-Mahboubi Sadr Al-Sharia, Explanation of Prevention, Amman, Al-Warraq Foundation for Publishing and Distribution, 1st Edition, Part 1-3, 2006.
The Holy Qur’an, Surat Al-Nisa, verse 12
The Holy Qur’an, Surat Al-Rum, Verse 28.
The Holy Qur’an, Surah S, Verse 24
Al-Qurtubi, Muhammad bin Ahmed bin Abi Bakr, Al-Jami’ Ahkam Al-Qur’an, investigation by Hamdi bin Abd Al-Majid Al-Salafi, Dar Al-Shaab, Cairo, 1372 AH.
Journal of Justice Rulings, Al-Adabiya Press, Beirut, Lebanon, 2004.
Muhammad Adnan bin Al-Dhaif, The Developmental Role of the Integration of Islamic Financial Institutions, a thesis for obtaining a Ph.D. in Economics, University of Muhammad Kheidar, Biskra, 2016.
Mahmoud Sahnoun, Zankari Miloud: Justifications and Mechanisms for the Openness of the Algerian Banking System to Islamic Banking, 2019.
Mustafa Kamal Al-Sayed Tayel, The Investment Decision in Islamic Banks, Ghobashi Press, Tanta, Egypt, 1999.
Accounting and Auditing Standards and Controls for Islamic Financial Institutions, issued by the Accounting and Auditing Organization for Islamic Institutions, 2008, Bahrain.
Doha Historical Dictionary of Language https://www.dohadictionary.org.
Lexicon of the Language of Jurisprudence, Muhammad Rawas Qalaji, 1416/1996 edition, Dar Al-Nafais, Beirut.
Sharia Standard No. 12, Company (Participation) and Modern Companies, Accounting and Auditing Organization for Islamic Financial Institutions, 2017 edition, sponsored by SABB Bank.
Wael Oraibat, Islamic Banks and Economic Institutions, Dar Al Thaqafa for Publishing and Distribution, Edition 1, Jordan, 2006.
Downloads
Published
How to Cite
Issue
Section
License
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.
