اسلامی بینکاری میں مرابحہ مؤجلہ کا استعمال:شرعی قواعد کی روشنی میں تنقیدی مطالعہ

Abstract

One of the fundamental differences between Islamic and the traditional banking is that the foundation of Islamic banking is based on the Islamic modes of business transactions while the traditional banking contracts make some sort of creditor and debtor arrangement between the contracting parties. Also, all the Islamic commercial contracts are based on the principles of equity, fairness, transparency, and justice. Therefore, the institutions offering Islamic financial products and services are supposed to comply with the true spirit of such contracts in form and substance. However, according to a group of prominent Sharī‘ah scholars, some of the adopted business transactions modes in the prevailing Islamic banking system are somehow less Sharī‘ah compliant. Practicing Murabaha Mu‘ajjalah, in Islamic banking, is one of such kinds of financial modes that heavily criticized by the Sharī‘ah scholar. By adopting an archival research approach and analyzing the accessible established critical literature concerning Murabaha Mu‘ajjalah the paper make a detailed appraisal. The paper concluded that the adapted arrangement of Murabaha Mu‘ajjalah in the contemporary Islamic banks is Sharī‘ah compliant in form but not in substance. It is also concluded that in order to protect the religious stance and ideological commitments of both the existing and potential customers, Islamic banks must need to comply with the true spirit, form, and substance of all the adopted Islamic financial modes.