The Combination of Contracts

The Combination of Contracts in shariah: A Possible instrument for Product Development in Moslem Banking and pay Mohammed Burhan Arbouna administrator abstract The conclave of contracts is a potential mechanism of return growing in Moslem finance. However, this concept encounters legal issues payable to ahadith that eradicate two contracts in one deal. The article argues for the hardiness of unite two or more contracts to structure shariah-compliant products. It discusses many an(prenominal) aspects of combination of contracts, including terminologies and purposes of the contracts, the degree of uncertainty and ambiguity, and the nature of the bargain in the contracts feature. If the contracts combined pass the tests established by legal principles, at that place pass on be no legal remonstration to combine such contracts into one deal. © 2007 Wiley Periodicals, Inc. INTRODUCTION The banking sector is witnessing a dramatic change, oddly in the age of e lectronic proceedings, and faces sundry(a) competitive forces, including product development in order to incur the current needs of business and trade. Islamic banking is no exception. subsequently decades of operation, the transactions of Islamic banking seem to depend on unless a smattering of financial products. Deferred payDr.

Mohammed Burhan Arbouna is an expert in Islamic banking and finance. His field of expertise is Shariah residency. He specializes in conniving and approving structures, advising on day-to-day transactions, coordinating with the Shariah boards, and auditing transactions to ensure compliance with the princi ples of Islamic banking and finance. Dr. Arb! ouna worked as the Shariah advisor to the Kuwait Finance HouseBahrain (KFH-B). Prior to joining KFH-B, Dr. Arbouna worked for the bill and Auditing Organization for Islamic Financial Institutions (AAOIFI)Bahrain where he was responsible for conducting query on Shariah issues on accounting and auditing. He reviewed and translated the Shariah standards issued by...If you want to bewilder a full essay, order it on our website: BestEssayCheap.com

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