Mohamad Hamdan, Noor Aishah and Ahmad Sarkawi, Azila and Abdullah Habib, Siti Nora Haryati and Othman, Ahmad Azam (2020) Assessment of Ta'widh and Gharamah in Islamic financing contract and its' applicability potential for construction works contracts. In: AMERABRA International Virtual Conference on Environmental Behavioral Studies 2nd Series, 2nd-3rd December 2020, Shah Alam, Selangor.
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Abstract
Ta'widh and gharamah are the Shariah compliant late payment charges for Islamic financial contracts. Seven identified themes were used to qualitatively compare and contrast between the Guidelines on Late Payment Charges for Islamic Banking Institutions (2012) against the provisions of interest for late interim payment from four Malaysian construction works contracts. The findings revealed similarities and differences for identification of Shariah compliance. Recommendations were made for the harmonisation of ta'widh and gharamah in the construction works contracts while ensuring its practical and legal applicability. The outcome is beneficial for Islamic organisations and Muslims involved with the construction works.
| Item Type: | Conference or Workshop Item (Plenary Papers) |
|---|---|
| Uncontrolled Keywords: | ta'widh and gharamah; late payment; interest; construction |
| Subjects: | H Social Sciences > HG Finance > HG3368 Islamic Banking and Finance |
| Kulliyyahs/Centres/Divisions/Institutes (Can select more than one option. Press CONTROL button): | Ahmad Ibrahim Kulliyyah of Laws Kulliyyah of Architecture and Environmental Design |
| Depositing User: | dr azila ahmad sarkawi |
| Date Deposited: | 14 Apr 2021 11:22 |
| Last Modified: | 14 Apr 2021 12:53 |
| URI: | http://irep.iium.edu.my/id/eprint/89142 |
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