Cover Image

Review of islamic law against execution of collateral auctions on islamic banking institutions in Aceh

This article discusses the review of Islamic law quoted from jurists’ opinion and legal experts on the use of auction trading theory in collateral sale. Every financial transaction in Islamic banking required a guarantee. It is intended to save bank funds if the customer defaults. Islamic banks,...

Full description

Saved in:
Bibliographic Details
Main Authors: Muhammad Fadhli, ., Ahmad Azrin, Adnan, Mohd Sadad, Mahmud
Format: Conference or Workshop Item
Language:English
English
Published: 2018
Subjects:
BP Islam. Bahaism. Theosophy, etc
HF Commerce
K Law (General)
Online Access:http://eprints.unisza.edu.my/1411/1/FH03-FESP-18-22603.pdf
http://eprints.unisza.edu.my/1411/2/FH03-FESP-18-22604.jpg
http://eprints.unisza.edu.my/1411/
Tags: Add Tag
No Tags, Be the first to tag this record!
id my-unisza-ir.1411
record_format eprints
spelling my-unisza-ir.14112020-11-16T03:23:45Z http://eprints.unisza.edu.my/1411/ Review of islamic law against execution of collateral auctions on islamic banking institutions in Aceh Muhammad Fadhli, . Ahmad Azrin, Adnan Mohd Sadad, Mahmud BP Islam. Bahaism. Theosophy, etc HF Commerce K Law (General) This article discusses the review of Islamic law quoted from jurists’ opinion and legal experts on the use of auction trading theory in collateral sale. Every financial transaction in Islamic banking required a guarantee. It is intended to save bank funds if the customer defaults. Islamic banks, based on constitutional act Number 4 of 1996 about underwriting rights, have the right to confiscate the guarantees of customer who has reached the due date without intention to pay. However, in the implementation, the bank cannot carry out the parate execution to make direct sales. The banks must take long formal procedures to disburse funds from customer guarantees and often meet various obstacles. This article will analyze normatively and empirically about the bail auction guarantees implementation on Islamic banking in Aceh based on the Islamic law concept from the Alquran, Hadith, and the scholars’ Ijma’. Although it still uses conventional law, in the auction rules, the implementation of guarantees applied to Islamic banking has adopted many Islamic laws. however, in the practice, there are still many problems arise from the Islamic law scope which uphold the philosophy of maslahah and the concept of justice. 2018 Conference or Workshop Item NonPeerReviewed text en http://eprints.unisza.edu.my/1411/1/FH03-FESP-18-22603.pdf image en http://eprints.unisza.edu.my/1411/2/FH03-FESP-18-22604.jpg Muhammad Fadhli, . and Ahmad Azrin, Adnan and Mohd Sadad, Mahmud (2018) Review of islamic law against execution of collateral auctions on islamic banking institutions in Aceh. In: The 1st Aceh Global Conference (AGC) 2018, 17 Oct 2018, Banda Aceh, Aceh.
institution Universiti Sultan Zainal Abidin
building UNISZA Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Sultan Zainal Abidin
content_source UNISZA Institutional Repository
url_provider https://eprints.unisza.edu.my/
language English
English
topic BP Islam. Bahaism. Theosophy, etc
HF Commerce
K Law (General)
spellingShingle BP Islam. Bahaism. Theosophy, etc
HF Commerce
K Law (General)
Muhammad Fadhli, .
Ahmad Azrin, Adnan
Mohd Sadad, Mahmud
Review of islamic law against execution of collateral auctions on islamic banking institutions in Aceh
description This article discusses the review of Islamic law quoted from jurists’ opinion and legal experts on the use of auction trading theory in collateral sale. Every financial transaction in Islamic banking required a guarantee. It is intended to save bank funds if the customer defaults. Islamic banks, based on constitutional act Number 4 of 1996 about underwriting rights, have the right to confiscate the guarantees of customer who has reached the due date without intention to pay. However, in the implementation, the bank cannot carry out the parate execution to make direct sales. The banks must take long formal procedures to disburse funds from customer guarantees and often meet various obstacles. This article will analyze normatively and empirically about the bail auction guarantees implementation on Islamic banking in Aceh based on the Islamic law concept from the Alquran, Hadith, and the scholars’ Ijma’. Although it still uses conventional law, in the auction rules, the implementation of guarantees applied to Islamic banking has adopted many Islamic laws. however, in the practice, there are still many problems arise from the Islamic law scope which uphold the philosophy of maslahah and the concept of justice.
format Conference or Workshop Item
author Muhammad Fadhli, .
Ahmad Azrin, Adnan
Mohd Sadad, Mahmud
author_facet Muhammad Fadhli, .
Ahmad Azrin, Adnan
Mohd Sadad, Mahmud
author_sort Muhammad Fadhli, .
title Review of islamic law against execution of collateral auctions on islamic banking institutions in Aceh
title_short Review of islamic law against execution of collateral auctions on islamic banking institutions in Aceh
title_full Review of islamic law against execution of collateral auctions on islamic banking institutions in Aceh
title_fullStr Review of islamic law against execution of collateral auctions on islamic banking institutions in Aceh
title_full_unstemmed Review of islamic law against execution of collateral auctions on islamic banking institutions in Aceh
title_sort review of islamic law against execution of collateral auctions on islamic banking institutions in aceh
publishDate 2018
url http://eprints.unisza.edu.my/1411/1/FH03-FESP-18-22603.pdf
http://eprints.unisza.edu.my/1411/2/FH03-FESP-18-22604.jpg
http://eprints.unisza.edu.my/1411/
_version_ 1684657688668012544
score 13.211869

Similar Items