Tawarruq: The Islamic perspective and the application fiqh muamalat / Mohamad Izzat Hakimi Midi … [et al.]

This study has focused the discussion on tawarruq: the Islamic perspective and the application fiqh muamalat. Tawarruq is a modem form of financing that has been applied by Islamic financial institutions in Malaysia and abroad. With this tawarruq, people can sell and buy goods or assets of high value. This study includes three objectives, namely the concept of tawarruq, Islamic scholars about tawarruq and the application of tawarruq in Malaysia. The methodology of this study is to use authoritative reference sources such as previous studies, and journals have been selected as primary references. While the search for reference sources is based on websites such as the websites of scientists and newspapers as secondary references. The findings of the study show the concept of tawarruq which includes definitions, propositions and types of tawarruq. Tawarruq means the sale and purchase of commodities or assets based on deferred payment and then the item is sold at a lower price than the first purchase price to a third party where the third party is not the original seller and the types of tawarruq are tawarruq al-fardi, tawarruq al munazzam, and others. In addition, the research findings also found several views of Islamic scholars on tawarruq, including Imam Syafie, Imam Hambali, the Maliki school and others as well as the application of tawarruq in Malaysia. In conclusion, tawarruq is a very important thing and we should learn it so that we can avoid getting involved in forbidden things.