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Empowerment in Mudarabah

As one of the equity-based contracts in the Islamic commercial law, mudarabah has been viewed as the ideal basis for an interest-free banking operation. This article studies mudarabah theory as described by the great Muslim jurists. It examines the legal rulings of the four main madhahib namely...

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Main Authors: Amir Shaharuddin, Dr., Gleave, Rob
Format: Article
Language:English
Published: Universiti Sains Islam Malaysia 2012
Subjects:
Empowerment
Fiqh Muamalat
Mudarabah
Islamic jurisprudence
Online Access:http://ddms.usim.edu.my/handle/123456789/5310
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spelling my.usim-53102015-03-02T02:33:27Z Empowerment in Mudarabah Amir Shaharuddin, Dr. Gleave, Rob Empowerment Fiqh Muamalat Mudarabah Islamic jurisprudence As one of the equity-based contracts in the Islamic commercial law, mudarabah has been viewed as the ideal basis for an interest-free banking operation. This article studies mudarabah theory as described by the great Muslim jurists. It examines the legal rulings of the four main madhahib namely the Hanafis, Malikis, Shafi'is and Hanbalis, and their relation to the financia1 practice of the mudarabah during the medieval period. The focus of discussion will be the scope of empowerment given by the investor to the agent-manager. It is found that the jurists differed in determining the restrictions to be placed upon the agent-manager in managing the capital entrusted to him. From a modern perspective, the Hanafis appeared to be the most flexible in comparison with the other three madhahib. In conclusion, the article will be a valuable addition to our understanding of mudarabah and perhaps, this will help us to develop a better equity-based financing instrument in the contemporary period. 2012-02-20T02:20:55Z 2012-02-20T02:20:55Z 2006 Article 1823075X http://ddms.usim.edu.my/handle/123456789/5310 en vol.3 no.1 2006; Universiti Sains Islam Malaysia
institution Universiti Sains Islam Malaysia
building USIM Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universit Sains Islam i Malaysia
content_source USIM Institutional Repository
url_provider http://ddms.usim.edu.my/
language English
topic Empowerment
Fiqh Muamalat
Mudarabah
Islamic jurisprudence
spellingShingle Empowerment
Fiqh Muamalat
Mudarabah
Islamic jurisprudence
Amir Shaharuddin, Dr.
Gleave, Rob
Empowerment in Mudarabah
description As one of the equity-based contracts in the Islamic commercial law, mudarabah has been viewed as the ideal basis for an interest-free banking operation. This article studies mudarabah theory as described by the great Muslim jurists. It examines the legal rulings of the four main madhahib namely the Hanafis, Malikis, Shafi'is and Hanbalis, and their relation to the financia1 practice of the mudarabah during the medieval period. The focus of discussion will be the scope of empowerment given by the investor to the agent-manager. It is found that the jurists differed in determining the restrictions to be placed upon the agent-manager in managing the capital entrusted to him. From a modern perspective, the Hanafis appeared to be the most flexible in comparison with the other three madhahib. In conclusion, the article will be a valuable addition to our understanding of mudarabah and perhaps, this will help us to develop a better equity-based financing instrument in the contemporary period.
format Article
author Amir Shaharuddin, Dr.
Gleave, Rob
author_facet Amir Shaharuddin, Dr.
Gleave, Rob
author_sort Amir Shaharuddin, Dr.
title Empowerment in Mudarabah
title_short Empowerment in Mudarabah
title_full Empowerment in Mudarabah
title_fullStr Empowerment in Mudarabah
title_full_unstemmed Empowerment in Mudarabah
title_sort empowerment in mudarabah
publisher Universiti Sains Islam Malaysia
publishDate 2012
url http://ddms.usim.edu.my/handle/123456789/5310
_version_ 1645151640838209536
score 13.226497

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