The role of custom in determining the provisions of Islamic financial transactions

Mazlan, Nur Adleen Maisarah and Mohamad Razi, Nur Alieya Maisarah and Mat Nazin, Nur Hanan and Mohlis, Nurizzati Eliyana and Zawawi @ Mokhtar, Nurul ‘Izzah and Wan Sukiman, Wan Dalila Akmal (2024) The role of custom in determining the provisions of Islamic financial transactions. [Student Project] (Unpublished)

Abstract

Custom plays an important role in determining the rules for financial transactions in Islam. It serves as an indirect source for understanding and applying Islamic legal texts in matters where there is no specific text, or for interpreting texts in accordance with prevailing customs, provided that custom does not contradict definitive texts. Custom is used to interpret contracts, adapt new transactions, and fill legislative gaps, provided it is clear, stable, and consistent with the principles of justice. Examples of this include determining workers' wages or delivery deadlines in sales based on custom, or regulating modern contracts such as bank credits in accordance with Sharia regulations.

Metadata

Item Type: Student Project
Creators:
Creators
Email / ID Num.
Mazlan, Nur Adleen Maisarah
2023298804
Mohamad Razi, Nur Alieya Maisarah
2023699744
Mat Nazin, Nur Hanan
2023213616
Mohlis, Nurizzati Eliyana
2023406224
Zawawi @ Mokhtar, Nurul ‘Izzah
2023299124
Wan Sukiman, Wan Dalila Akmal
2023870496
Contributors:
Contribution
Name
Email / ID Num.
Advisor
Mustapha, Ahmad Murshidi
UNSPECIFIED
Subjects: B Philosophy. Psychology. Religion > BP Islam. Bahaism. Theosophy, etc > Islam > Islam and economics
K Law > KBP Islamic law. Sharī'ah. Fiqh > Banks and banking. Qanun al-bunuk. Stock exchange
Divisions: Universiti Teknologi MARA, Kelantan > Machang Campus > Academy of Contemporary Islamic Studies (ACIS)
Programme: Bachelor of Muamalat (Hons)
Keywords: Finance (Islamic law), Financial literacy, Banking law (Islamic law)
Date: 2024
URI: https://ir.uitm.edu.my/id/eprint/119896
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