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Modern applications of hibah in the light of shari'ah objectives of gift and donation contracts (al-tabarru'at)

Ali, Mohammed Farid (2015) Modern applications of hibah in the light of shari'ah objectives of gift and donation contracts (al-tabarru'at). Islamic Sciences , 13 (1). pp. 27-42. ISSN 1929-9443

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After presenting the Sharīʿah objectives of both tabarruʿāt and hibah briefly, this paper looks at the applications of hibah as a “supporting Sharīʿah concept” in four contracts proposed to the Shariah Advisory Council of Bank Negara Malaysia (SAC). The four contracts are (1) Interbank Mudarabah Investment Contract, (2) al-Ijarah thumma-l-Bayʿ Contract, (3) Wadiʿah Contract, and (4) Qarḍ Contract. Do these modern applications of hibah realize the maqāṣid of al-tabarruʿāt and hibah? Beside positive maqāṣid, the paper also looks into instances in which hibah is utilized to serve purposes which are negative in nature such as ribāʾ and bribery (rishwah). Based on the maqasidic approach to tabarruʿāt and hibah, the paper recommends terms and conditions when combining hibah with other transactions and contracts. These conditions will seek to overcome the violation of the original maqāṣid of the hibah and tabarruʿāt.

Item Type: Article (Journal)
Additional Information: 7146/44234
Uncontrolled Keywords: Islamic Gift Economy; Hiba; Gifts and Charitable Donations in Islam; Sharīʿah-Objectives; Endowments; Buying and Selling in Islam; Donations; Islamic Economics
Subjects: B Philosophy. Psychology. Religion > BL Religion
H Social Sciences > HG Finance
H Social Sciences > HV Social pathology. Social and public welfare
K Law > KBP Islamic Law
Kulliyyahs/Centres/Divisions/Institutes (Can select more than one option. Press CONTROL button): International Institute of Islamic Thought and Civilization (ISTAC)
Date Deposited: 18 Aug 2015 09:25
Last Modified: 03 Nov 2017 08:15
URI: http://irep.iium.edu.my/id/eprint/44234

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