The Combination of Contracts

The Combination of Contracts in shariah: A Possible weapon for Product Development in Moslem Banking and pay Mohammed Burhan Arbouna executive director abstract The conclave of contracts is a potential mechanism of harvest growing in Moslem finance. However, this concept encounters legal issues receivable to ahadith that eradicate two contracts in one deal. The article argues for the rigorousness of unite two or more contracts to structure shariah-compliant products. It discusses legion(predicate) aspects of combination of contracts, including terminologies and purposes of the contracts, the degree of uncertainty and ambiguity, and the nature of the bargain in the contracts feature. If the contracts combined pass the tests established by legal principles, in that respect pass on be no legal objection to combine such contracts into one deal. © 2007 Wiley Periodicals, Inc. INTRODUCTION The banking sector is witnessing a dramatic change, oddly in the age of electronic legal proceeding, and faces several(a) competitive forces, including product development in order to make full the current needs of business and trade. Muslim banking is no exception. after(prenominal) decades of operation, the transactions of Islamic banking seem to depend on scarcely a smattering of financial products. Deferred payDr.

Mohammed Burhan Arbouna is an expert in Islamic banking and finance. His field of expertise is Shariah residency. He specializes in excogitation and approving structures, advising on day-to-day transactions, coordinating with the Shariah boards, and auditing transactions to ensure compliance with the principles of Islamic banking and finance. Dr. Arbouna worked as the Shariah ! adviser to the Kuwait Finance HouseBahrain (KFH-B). Prior to joining KFH-B, Dr. Arbouna worked for the account statement and Auditing Organization for Islamic Financial Institutions (AAOIFI)Bahrain where he was responsible for conducting enquiry on Shariah issues on accounting and auditing. He reviewed and translated the Shariah standards issued by...If you want to bewilder a full essay, order it on our website: OrderEssay.net

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