Assessment of Ta’widh and Gharamah in Islamic financing contract and its applicability potential for construction works contracts

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: AMER ABRA International Virtual Conference on Environment-Behaviour Studies 2nd Series (AIVCE-BS-2), Universiti Teknologi MARA, Shah Alam, Malaysia.

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Abstract

Ta'widh and gharamah are the Shariah compliant late payment charges primarily used 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 (Invited Papers)
Additional Information:	5327/86903
Uncontrolled Keywords:	ta’widh and gharamah, late payment, interest,construction,
Subjects:	BPH Islamic Economics K Law > KBP Islamic Law > KBP1 Islamic law.Shariah.Fiqh K Law > KBP Islamic Law > KBP1 Islamic law.Shariah.Fiqh > KBP173.25 Islamic law and other disciplines or subjects T Technology > T Technology (General) > T173.5 Technology and Islam
Kulliyyahs/Centres/Divisions/Institutes (Can select more than one option. Press CONTROL button):	Kulliyyah of Architecture and Environmental Design Kulliyyah of Architecture and Environmental Design > Department of Quantity Surveying
Depositing User:	Mdm Siti Nora Haryati Abdullah Habib
Date Deposited:	30 Dec 2020 16:01
Last Modified:	31 Dec 2020 10:22
URI:	http://irep.iium.edu.my/id/eprint/86903

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