Juristic methods of purifying haram incomes: An analysis in the context of Islamic banks in Malaysia abstract

Mohd Yunus, Saidatolakma and Haneef, Sayed Sikandar Shah and Kamaruddin, Zuraidah (2017) Juristic methods of purifying haram incomes: An analysis in the context of Islamic banks in Malaysia abstract. Al-Shajarah, 22 (2). ISSN 1394-6870

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Abstract

This study is an attempt to articulate juristic mechanisms by which Islamic banks in Malaysia can purge the unlawful incomes from their assets. Islamic bank being a modern corporate entity when dealing with people of diverse cultures and conventional business entities, at times feel the pressure of not being able to stay away from transactions tainted with haram. Islamic banks as a matter of principle should not involve themselves in any unlawful business activities in the process of which they can procure unlawful incomes. A question of how Islamic banks in Malaysia should treat such incomes, both classical and contemporary jurists have proposed their own set of juristic methods. This study provides recommendations to the Islamic banks in order to address the importance of undertaking the purification process of haram income according to Shariah.

Item Type:	Article (Journal)
Additional Information:	7324/60679
Uncontrolled Keywords:	Haram income, Purification, Islamic banks, riba-based transactions
Subjects:	H Social Sciences > HG Finance H Social Sciences > HG Finance > HG1501 Banking H Social Sciences > HJ Public Finance
Kulliyyahs/Centres/Divisions/Institutes (Can select more than one option. Press CONTROL button):	Kulliyyah of Islamic Revealed Knowledge and Human Sciences > Department of Fiqh and Usul al-Fiqh
Depositing User:	Saidatol Akma Mohd Yunus
Date Deposited:	02 Jan 2018 22:45
Last Modified:	23 Mar 2018 15:12
URI:	http://irep.iium.edu.my/id/eprint/60679

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