2020
DOI: 10.1108/qrfm-07-2019-0084
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Management of fatwa standardisation on the practice of bay’ ‘inah contract in Malaysia: an analysis according to usul al-Fiqh and mura’aht al-Khilaf method

Abstract: Purpose This study aims to investigate the practice of bay’ ‘inah contract in personal and home financing products by some Islamic Finance Institutions (IFIs) and examine the differences in the selection of contracts in banking products amongst IFIs mainly involving personal financing. The study will also propose a solution to the problem of differences and simultaneously standardise personal financing contracts in Malaysia. Design/methodology/approach The methodology of this study is qualitative, in which t… Show more

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Cited by 12 publications
(11 citation statements)
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“…This study also uses qualitative methods with historical, analytical and critical tools to obtain data by exploring various classical and contemporary sources. Some of the previous studies used in explaining zakat accounting were carried out by Owoyemi (2020), Asni (2019), Saad, et al (2020, and Adnan and Bakar (2009).…”
Section: Methodsmentioning
confidence: 99%
“…This study also uses qualitative methods with historical, analytical and critical tools to obtain data by exploring various classical and contemporary sources. Some of the previous studies used in explaining zakat accounting were carried out by Owoyemi (2020), Asni (2019), Saad, et al (2020, and Adnan and Bakar (2009).…”
Section: Methodsmentioning
confidence: 99%
“…A fatwa is a view or decision, either personal or produced by a group of mujtahids, on a particular Shariah law (Asni, 2020). The accuracy of a fatwa is highly dependent on the method of argumentation used and its parallel conformance with maqasid al-shariah (Asni, 2018;Ishak & Asni, 2020).…”
Section: Fatwa As a Solution To A New Problemmentioning
confidence: 99%
“…However, the differences of scholars on an issue are partly challenging to determine which opinion is rajih, while in some issues, it is effortless to decide on the rajih idea through tarjih method. The tarjih method is an authoritative method that is compiled by scholars to provide guidance in determining the rajih opinion if it involves two or more views on the same issue (Al-Hajji, 2015;Asni, 2020). According to al-Khudari (2001); , the majority of scholars of usul al-fiqh oblige to choose a rajih opinion if there is a contradiction between two propositions.…”
Section: Introductionmentioning
confidence: 99%