Commodity murabaha: does it violate Islamic norms? Note

Zubair Hasan

MPRA Paper from University Library of Munich, Germany

Abstract: Recently commodity murabaha has run into disrepute due to court decisions going against the use of this instrument in Islamic banks. This brief note argues that at fault has been the structure of contracts and the excessive use of the instrument. In principle, commodity murabaha is doubtless rooted deep in the Islamic Shari’ah.

Keywords: Key words: Islamic finance; commodity murabaha; Time value in price; Shari’ah intention and spirit (search for similar items in EconPapers)
JEL-codes: G21 (search for similar items in EconPapers)
Date: 2008-11-10
New Economics Papers: this item is included in nep-ban and nep-cwa
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