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SHARIAH ISSUES IN ISLAMIC FINANCE PART 2

14 November 2019 Azahari

The prohibition of sale of a debt for a debt affects when obligations (to perform or to pay) are delayed, and when such obligations may be bought, sold or otherwise transferred. In a transaction any of the two counter values can be postponed, i.e. payment of the price, or delivery of the commodity. While the former is a credit sale or Bai’Mu’ajjal, the later refers to a future sale wherein the goods sold are to be supplied later against prepaid price (Salam).

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