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Operationalizing tawarruq by Islamic banks in Malaysia: issues, challenges and way forward

Aljamos, Yusof Mahmoud and Abu Jaish, Anas Ahmad and Ibrahim, Khairunisah (2018) Operationalizing tawarruq by Islamic banks in Malaysia: issues, challenges and way forward. In: 1st Global Conference on Islamic Economics and Finance 2018 (GCIEF 2018), 24th-25th Oct. 2018, Kuala Lumpur.

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Offering viable and competitive Islamic Finance products by banking institutions could be regarded as a crucial roadmap in pursuing and achieving the Sustainable Development Goals (SDGs). Such initiatives strengthen the role of Islamic finance in uplifting financial prosperity, stability and growth. Tawarruq is one of the Islamic finance liquidity providing schemes which is commonly utilized in virtually every country that practices Islamic finance. This research examines the issues and challenges of Tawarruq faced by Islamic banks in Malaysia and the way forward of Tawarruq application. The legality of Tawrruq has been debated by few researchers, which contributes towards the diverse resolutions and rulings from Islamic nations on the lawfulness of Tawarruq. This study is carried out based on a qualitative approach whereby resources are obtained from various secondary sources including journal articles, books and internet websites. Besides, this paper aims to provide views and verdicts of legal scholars with respect to Tawarruq in the banking system. This study also provides the literary evidences and sound arguments in reaching towards the final juristic judgment.

Item Type: Conference or Workshop Item (Plenary Papers)
Additional Information: 3565/67128
Uncontrolled Keywords: Islamic Finance, Tawarruq, Islamic Banks, Malaysia
Subjects: B Philosophy. Psychology. Religion > BP Islam. Bahaism. Theosophy, etc > BP1 Islam > BP173.75 Islam and economics
H Social Sciences > HG Finance > HG1501 Banking
H Social Sciences > HG Finance > HG3368 Islamic Banking and Finance
Kulliyyahs/Centres/Divisions/Institutes (Can select more than one option. Press CONTROL button): Kulliyyah of Economics and Management Sciences
Kulliyyah of Economics and Management Sciences > Department of Finance
Depositing User: Asst. Prof. Dr. Khairunisah Ibrahim
Date Deposited: 29 Oct 2018 10:54
Last Modified: 29 Oct 2018 10:55
URI: http://irep.iium.edu.my/id/eprint/67128

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