Relevant bibliographies by topics / Discharge of contracts (Islamic law)

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  1. Journal articles
  2. Dissertations / Theses
  3. Books
  4. Book chapters
  5. Conference papers

Academic literature on the topic 'Discharge of contracts (Islamic law)'

Author: Grafiati
Published: 4 June 2021
Last updated: 6 February 2022

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Journal articles on the topic "Discharge of contracts (Islamic law)"

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Cebeci, Ismail. "Explaining the Modern Transformation of Islamic Legal Contracts: Theoretical and Practical Implications." Arab Law Quarterly 35, no. 1-2 (June 24, 2020): 134–54. http://dx.doi.org/10.1163/15730255-bja10039.

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Abstract This article both examines changing contexts and factors that cause transformation as well as shows their effects on Islamic finance contracts. Here the author addresses his general theories in terms of modern iǧtihād (independent reasoning) on modern Islamic finance contracts. The main question is: ‘How have changing contexts and factors affected the emergence and transformation of Islamic financial contracts?’ The study addresses contexts, factors, and conditions that severely transform contracts. More specifically, the author argues that modern Islamic finance contracts have been transformed by the effects of changing factors and contexts. The main objective is to uncover modern contractual developments in Islamic finance and show how this transformation has made its mark on modern Islamic finance contracts. The study consists of a presentation of historical background, an explanation of socio-economic and ideological-ethical contexts and factors creating change, and a discussion regarding their effects on modern Islamic contracts.
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Moqbel, Tareq, and Habib Ahmed. "Flexibility and Sharīʿah Compliance of Islamic Financial Contracts: An Evaluative Framework." Arab Law Quarterly 35, no. 1-2 (July 22, 2020): 92–115. http://dx.doi.org/10.1163/15730255-bja10052.

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Abstract Although the key distinguishing feature of Islamic finance is compliance with Sharīʿah, there is criticism from various quarters on the Sharīʿah compliance of its products. However, there is no objective way to assess the Sharīʿah compliance of Islamic financial contracts. This article develops a structured framework for analysing Sharīʿah compliance of Islamic financial contracts by deconstructing them and developing principles of evaluation based on concepts from Islamic legal theory. Other than providing a framework to assess Sharīʿah compliance of Islamic financial contracts, this article also alludes to an important issue regarding the contracts’ flexibility. Using concepts from Islamic legal theory, the article classifies different contractual stipulations according to their legal weight, and identifies how legal perspectives on the requirements of compliance can determine the flexibility of contracts. An evaluative framework is used to assess the Sharīʿah compliance of an actual muḍārabah (silent partnership) contract and finds it to be defective.
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Karatash, Mustafa, and Rakhmanov Abdumukhtor Rejjabbaevich. "Islamic System Of Human Rights And Types Of Contracts In Islamic Law." American Journal of Political Science Law and Criminology 03, no. 06 (June 12, 2021): 147–52. http://dx.doi.org/10.37547/tajpslc/volume03issue06-22.

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The article deals with the application of the norms of Islamic law on obligations and contracts, particularly, principles of close to the moral values of our people, and calls on the parties to contracts to be honest and conscientious in their obligations, timely and proper execution, tolerance and generosity, at the same time some types of contacts in Islamic law such as muzaraba, musharaka and murabah are discussed in detail.
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Hassan, Hussein. "The Promissory Theory of Contracts in Islamic Law." Yearbook of Islamic and Middle Eastern Law Online 8, no. 1 (January 1, 2001): 45–72. http://dx.doi.org/10.1163/221129802x00058.

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Karim, Ridoan, and Imtiaz Mohammad Sifat. "Treatment of silence as misrepresentation in contracts." International Journal of Law and Management 60, no. 1 (February 12, 2018): 69–78. http://dx.doi.org/10.1108/ijlma-08-2016-0073.

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Purpose This paper aims to provide a comparative discussion on silence as a misrepresentation in contractual obligations between common law and Islamic law. The objective of this paper is to – from a legal pluralism point of view – highlight the contrasts between the two traditions and provide recommendations for best practices to achieve fairness and equity among the contracting parties. While common law does not treat silence as conscious misrepresentation, in Islamic law, silence does not constitute affirmative will. This has repercussions for the contracting parties because if future disputes arise, the aggrieved party in Islamic law reserves the option to rescind or nullify the contract – an opportunity not afforded by common law. We have discussed and analyzed the implementations of the different contractual terms, such as fraud, misrepresentation, trickery and deception in relation with Islamic law principles and common law practices. This research is an effort to draw the attention for further development in both Islamic law and common law practices on contractual obligation. The notion of misrepresentation – subset of a broader gamut of fraud – is arguably nebulous in Islamic literature as well. We delve into these nuances and provide examples both from common law and Islamic law precedents and provide recommendations for reform in both traditions. Design/methodology/approach This paper operates under qualitative methodological framework and uses secondary sources for analysis. Sources include journal databases, review of cases, classical/medieval Islamic scripts, etc. Findings This paper provides a general comparative study between common law’s principle and practice and Islamic law’s principle to forge a better understanding of fine-tuning existing practice and contribute to the debate on determining the best practices to unify international trade and custom exercise. Common law principle, obviously, holds a historical and traditional reputation as those principles are derived from long years of practice and judicial interpretation. Such historical legal system should accommodate fresh ideas in their repertoire and welcome novel ideas which would positively influence its own practice. This paper affords the freedom to the reader to interpret which general principle is acceptable in terms of contractual obligation. Originality/value Previous works exist on the issue of misrepresentation. However, those are mostly explanations of fraud and deceit in Islamic law or common law. The treatment of silence as affirmative will is seldom touched upon. To the authors’ knowledge, this is the first attempt at contrasting the treatment of silence in common and Islamic law. They have also advocated pluralistic practices and argued for legal reform whereby both traditions can benefit from each other.
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Buang, Ahmad Hidayat. "Islamic Contracts in a Secular Court Setting? Lessons From Malaysia." Arab Law Quarterly 21, no. 4 (2007): 317–40. http://dx.doi.org/10.1163/026805507x247590.

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AbstractThe judgement in the Kuala Lumpur High Court in the case of Affin Bank Berhad v. Zulkifli Abdullah ([2006] 1 CLJ 438) illustrates the difficulty in cases where Islamic principles such as Bay' Bithaman Ajil or BBA are litigated in a court of law where Islamic Shariah is little understood. From the traditional Islamic law perspective the legal basis arrived at in the judgement is questionable. In the light of this complexity, this article attempts to analyse the effect of the judgement to the principles of Islamic contracts used in banking products and services in Malaysia with reference to the sources used in the creation of the contracts and forum to settle disputes between Islamic Banks and their customers. In conclusion, this article would argue for the appropriate application of the Shariah in the above matters through the promulgation of a specific law in relation to Islamic contracts in banking and finance or alternatively a special procedure to be introduced enabling all matters relating to the question of Shariah be referred to the Shariah Courts for decision.
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Subaty, Muhammad, and Mostafa Elsan. "Contract Formation Using Automated Message System: Survey of Islamic Contract Law." Arab Law Quarterly 23, no. 2 (2009): 167–80. http://dx.doi.org/10.1163/157302509x415684.

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AbstractThe issues discussed are the legal aspects of creating contracts using Automated Message Systems. For example, should a transaction or series of contracts be nullified after the right to withdraw has been exercised? The right to withdraw was created to protect a “natural person” unable to correct a human input error in an automated system. Interpretation of contracts under Islamic law concerning this and related topics is presented.
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Kamali, Mohammad Hashim. "Islamic Commercial Law." American Journal of Islam and Society 13, no. 2 (July 1, 1996): 197–212. http://dx.doi.org/10.35632/ajis.v13i2.2330.

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Introductory RemarksThe Islamic law of transactions (mu'amalat) has often been singled outas the most important area of contemporary research in Islamic theses, somuch so that, according to some observers, its priority is even higher thanthat of research in applied sciences and medicine. This status is due to thecritical importance of commercial transactions in the wealth generation andproductivity prospects of contemporary Muslim countries. New researchon issues of conventional fiqh al mu'amalat is essential for the viability andsuccess of economic development programs in Muslim countries. In recentdecades, research interest in fiqh al mu'amalat has been shifting increasinglyto specific themes and development of new operative formulas tostimulate profitable business in the marketplace. Evidently, futures tradingis one such theme where original ijtihad is required to enhance theprospects of economic success, especially in farming and agro-based industriesin developing Muslim countries.The futures market is where contracts for future sale and purchase canbe concluded for standardized quantities and qualities of commodities, currencies,bonds, and stocks. Ever since the large-scale inception of futuresmarkets in the early 1970s, new products and trading formulas in varioustrade sectors involving commodities, options, financial futures, and stockindex futures, among others, have increased so much that futures contractscurrently are available in over eighty commodities, ranging from foodgrains, oil and oil seeds, sugar, coffee, livestock, eggs, orange juice, cotton,rubber, precious metals, and currencies. In terms of volume, futures tradinghas far exceeded trading levels in conventional stocks and, currently, is thesingle most voluminous mode of commerce on the global scale ...
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Mohd Noor, Nurul Syazwani, Muhammad Hakimi Mohd. Shafiai, and Abdul Ghafar Ismail. "The derivation of Shariah risk in Islamic finance: a theoretical approach." Journal of Islamic Accounting and Business Research 10, no. 5 (October 14, 2019): 663–78. http://dx.doi.org/10.1108/jiabr-08-2017-0112.

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Purpose This paper aims to propose a derivation of Shariah risk from both the Islamic finance theory and theory of contracts in Islamic law. Specifically, it deliberates the derivation of Shariah risk following the contracts validity and apprises the readers of the Shariah risk issues currently under debate. Design/methodology/approach This study reviews the relevant literature and presents an analysis of contract rulings through evidence derived from the Qur’an, Hadith and other secondary sources of Islamic law. Various theories of Islamic finance and Islamic law of contracts are identified, to examine the general principles and essential elements and conditions of a valid contract. Findings This analysis asserts that any circumstances that may render invalidity of the contract will trigger Shariah risk. More importantly, this paper highlights the implications of invalid contracts, based on the opinion of Hanafi jurists, who concluded that Shariah risk may be derived from any void or voidable contracts due to the failure of the contractual parties to comply with Shariah contractual obligations. Research limitations/implications This paper emphasises the derivation of Shariah risk over theoretical approaches. It does not include an explanation in the form of any empirical model. Originality/value This is the first study that contributes to the field of derivation of Shariah risk, based on the theory from the Islamic law of contracts.
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Hamour, Mohamed, Mohammad Hassan Shakil, Ishaq Mustapha Akinlaso, and Mashiyat Tasnia. "Contemporary issues of form and substance: an Islamic law perspective." ISRA International Journal of Islamic Finance 11, no. 1 (June 17, 2019): 124–36. http://dx.doi.org/10.1108/ijif-01-2018-0006.

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Purpose This paper aims to analyse the concept of form over substance and introduces the term substance gap to the literature. The substance gap is defined as the difference between the way a concept is expressed and its intended result. Besides, the study investigates the issue from both classical and contemporary viewpoints. Design/methodology/approach The methodology adopted in this paper is descriptive research. Findings This paper has depicted the substance gap in contemporary contracts and found that form is equally important as substance in Islamic finance contracts. This paper offers a fresh outlook on form and substance to highlight the importance of the issue and its significance. The findings of the study will help researchers address the issue at its roots and help them to bridge the gap between the form and substance of Islamic finance contracts. Originality/value This paper investigates the substance gap in contemporary contracts that exists between the fiqh rules and conditions of an Islamic contract, and their development and construction. Further, the gap could also be attributed to the pressure to cope with a complicated modern finance environment.
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Dissertations / Theses on the topic "Discharge of contracts (Islamic law)"

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Alhowaimil, Ibrahim Saad. "Frustration of performance of contracts : a comparative and analytic study in Islamic law and English law." Thesis, Brunel University, 2013. http://bura.brunel.ac.uk/handle/2438/8532.

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This thesis is an assessment of the position of Islamic law and English law regarding the doctrine of the frustration of the contract. The thesis gave in the first general view about Islamic law and Saudi legal system, also about the contract in Islamic law in general. This study provides a detailed and critical account of the principles of frustration of contract law which operate under Islamic law and English law, where appropriate, identifies and critically evaluates the differences between the principles of frustration of contract which operate respectively under Islamic law and English law and to recognize the effect of the frustration on the performance of the contract. In the case of the absence of theory of frustration of contract in Islamic Law, an attempt will be made to create a complete doctrine of frustration of contract. Researcher discussed the frustration of contract in Islamic Law. In the case of the absence of theory of frustration of contract in Islamic Law, an attempt will be made to create a complete theory of frustration of contract in Islamic law. This is recognised owing to the fact that most cases of the application of frustration fall under the doctrine of impossibility. Impossibility can be regarded as taking place ‘when there supervening events without default of either party and for which the contract makes no sufficient provision which so significant changes the nature, if the cases where impossibility relates to the subject-matter of contracts or relates to the parties, subjective or objective impossibility. This study discusses the issue of Frustration of contract due to external factors covering cases of legal impossibility. This study examines the discharge of contract if there is circumstances do not make the performance impossibility but became difficult to perform such as impracticability and frustration of purpose. It will also look in some detail at the limitations and narrow scope of the doctrine of frustration, and also discuss contractual parties’ sometimes preferred alternatives, such as drafting force majeure clauses and hardship clauses.
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Haji, Hassan Abdullah Alwi. "Sales and contracts in early Islamic commercial law." Thesis, University of Edinburgh, 1986. http://hdl.handle.net/1842/19819.

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Buang, Ahmad Hidayat Bin. "The prohibition of 'Gharar' in Islamic law of contracts : a conceptual analysis with special reference to the practice of Islamic commercial contracts in Malaysia." Thesis, SOAS, University of London, 1996. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.362359.

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Murphy-Sweet, Philip A. "Analysis of General Accounting Office, Armed Services Board of Contract Appeals, and Federal Court of Claims decisions on disputes involving performance specifications." Monterey, Calif. : Springfield, Va. : Naval Postgraduate School ; Available from National Technical Information Service, 2002. http://library.nps.navy.mil/uhtbin/hyperion-image/02sep%5FMurphy%5FSweet.pdf.

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Naji, Alaa A. "Islamic Fiqh and the contract of international carriage of passengers by air." Thesis, McGill University, 2001. http://digitool.Library.McGill.CA:80/R/?func=dbin-jump-full&object_id=33056.

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GOD says in the Holy Qur'aan "O' people, I have created you from a single pair of a male and a female, and made you into nations and tribes that ye may know each other. Verily the most honored of you in the sight of GOD is the most righteous of you..." (Holy Qur'aan, 49:13).
This thesis is laid down in accordance with GOD's order to connect civilizations with each other and to benefit from each other's experience and knowledge toward a much better future for humanity.
The thesis tries to reflect upon the opinions of Islamic Fiqh with regard to the contract of international carriage of passengers by air and e-ticketing in a manner that is understandable to both Fiqh oriented and Western Law oriented readers. Therefore, it has been designed to include three major Parts where the first introduces the Western Law oriented reader to Islamic Fiqh. The Second Part introduces the Fiqh Oriented reader to the world of tickets and travel documents. Finally, the third chapter concentrates on the issue of electronic ticketing. (Abstract shortened by UMI.)
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Alrashidi, Razq. "Saudi administrative contracts and arbitrability." Thesis, University of Stirling, 2017. http://hdl.handle.net/1893/25786.

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This thesis aims to provide a critical appraisal of the validity and enforcement of arbitration agreements and clauses in the context of administrative contracts. The proposed thesis will consider the potential impacts of Shariah on arbitration proceedings initiated in Saudi Arabia, with particular attention focused on the requirements of the applicable procedural and substantive laws. Drawing on the administrative systems of France and Egypt, this thesis will consider how other civil law systems have balanced the rights of private parties with the unilateral authority of public administration, and the extent to which these systems have recognised the rights of private parties to resolve disputes through the mechanisms of arbitration.
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Sadeghi, Hossein Mir Mohammad. "Impossibility of performance of contracts in Islamic law : a comparative analysis with particular reference to Iranian and English law." Thesis, University of Liverpool, 1994. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.439256.

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Berg, Daniel Friedrich. "Die Rückabwicklung gescheiterter Verträge im spanischen und deutschen Recht : eine rechtsvergleichende Untersuchung unter besonderer Berücksichtigung des Einheitsrechts /." Frankfurt am Main [u.a.] : Lang, 2002. http://www.gbv.de/dms/ilmenau/toc/346976421.PDF.

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Almajid, Walid. "The legal enforceability of contracts made by electronic agents under Islamic law : a critical analysis of the effectiveness of legal reform in Saudi Arabia." Thesis, University of Central Lancashire, 2010. http://clok.uclan.ac.uk/1522/.

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The aim of this dissertation is to analyse whether contracts made by electronic agents1 might be made enforceable under Islamic law. It discusses what constitutes an enforceable contract under Islamic law and whether this is applicable when a contract is made by an electronic agent. The enforceability of these contracts under Islamic law is especially important in the Kingdom of Saudi Arabia (KSA) where Islamic law constitutes the legal system. Ignoring the doctrine of Islamic law in relation to the enforceability of these contracts could, therefore, fundamentally affect the future viability of these contracts in the KSA. The dissertation argues first that the principle of mutual consent under Islamic law is not satisfied in contracts made by electronic agents because there is no communication of an offer and acceptance by the contracting parties (users). Secondly, while electronic agents function like human agents, there are a number of doctrinal requirements under Islamic agency theory that prevent electronic agents from being agents proper. Thirdly, the term ‘legal personality’ is categorised in Islamic law under ‘Dhimmah’, an ethical concept designed principally for human beings which cannot, therefore, be attributed to electronic agents. This dissertation demonstrates that Islamic law creates conceptual obstacles which prevent contracts made by electronic agents being enforceable in the KSA. One implication of this will be a risk of negative impact on the development of these contracts in the KSA because they are contradictory to Islamic law. Islamic law must avoid narrow traditional interpretations of its legal concepts, because a lack of reform in this area will create difficulties and barriers against the enforceability of these contracts under Islamic law.
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Rayner, Susan Elizabeth. "The theory of contracts in Islamic law : a comparative analysis, with particular reference to the modern legislation in Kuwait, Bahrain and the United Arab Emirates." Thesis, University of Cambridge, 1989. https://www.repository.cam.ac.uk/handle/1810/273381.

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Books on the topic "Discharge of contracts (Islamic law)"

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ʻAlī, Salmān Nūḥ, ed. Tafsīr alfāẓ al-mukallafīn fī al-ʻuqūd wa-al-taṣrīfāt al-infirādīyah. ʻAmmān: ʻImād al-Dīn, 2009.

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Naẓarīyat al-rujūʻ fī al-ʻuqūd wa-al-taṣrifāt fī al-fiqh al-Islāmī. ʻAmmān, al-Urdun: Dār al-Janādirīyah lil-Nashr wa-al-Tawzīʻ, 2011.

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Naẓarīyat al-rujūʻ fī al-ʻuqūd wa-al-taṣrifāt fī al-fiqh al-Islāmī. ʻAmmān, al-Urdun: Dār al-Janādirīyah lil-Nashr wa-al-Tawzīʻ, 2011.

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Hassan, Hussein. Contracts in Islamic law. London: I. B. Tauris, 2005.

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Ralston, Robert. The principles of the law relating to the discharge of contracts. Littleton, Colo: Rothman, 1997.

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Kharofa, Alae̓ddin. Transactions in Islamic law. Kuala Lumpur, Malaysia: A.S. Noordeen, 1997.

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Bhadbhade, Nilima. Contract law in India. Alphen aan den Rijn, The Netherlands: Kluwer Law International, 2013.

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Contract law in India. Alphen aan den Rijn, The Netherlands: Kluwer Law International, 2010.

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Bhadbhade, Nilima. Contract law in India. Alphen aan den Rijn, The Netherlands: Kluwer Law International, 2010.

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Ḍarīr, Ṣiddīq al-Amīn. Gharar: Impact on contracts in Islamic fiqh. [Riyadh]: al-Baraka Banking Group, 2012.

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Book chapters on the topic "Discharge of contracts (Islamic law)"

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Trakic, Adnan. "De-identification of Islamic finance contracts by the common law courts." In The Future of the Law of Contract, 237–54. Abingdon, Oxon ; New York, NY : Routledge, 2020. | Series: Markets and the law: Informa Law from Routledge, 2020. http://dx.doi.org/10.4324/9780429056550-12.

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Atif, Hanif, Johansen Julian, and Richardson Edana. "Part II Islamic Law and Contracts in Practice, 11 Sukuk." In Islamic Finance. Oxford University Press, 2020. http://dx.doi.org/10.1093/law/9780198725237.003.0011.

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This chapter focuses on the sukuk market, which represents one of the more high-profile elements of the Islamic finance industry. Over the last two decades, the sukuk market has been a key driver behind the growth of Islamic finance globally, with the state of the sukuk market often seen as a barometer for the health of the wider Islamic finance market. However, the sukuk industry has also had its own specific hurdles to overcome. Internal scepticism, a multitude of complex structures, and legislative restrictions have all contributed to the current shape of the sukuk market. While this market may never challenge the conventional debt capital markets in terms of size or accessibility, it remains a key aspect of the Islamic finance industry generally and offers an important Shari’a-compliant resource for issuers and investors.
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Peter, Hodgins. "Part II Islamic Law and Contracts in Practice, 10 Takaful." In Islamic Finance. Oxford University Press, 2020. http://dx.doi.org/10.1093/law/9780198725237.003.0010.

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This chapter examines takaful (Islamic insurance), which is one of the fastest growing sectors of the global insurance market. Takaful is a form of insurance structured so as to satisfy the requirements of the Shari’a. It is based on the concept of mutuality, whereby each participant (the equivalent of an insured) makes a donation (tabarru) to a takaful fund. In its commercial form, the takaful fund is managed by a takaful operator on behalf of the participants and is therefore similar to a conventional mutual insurance company. However, the concept of takaful is fundamentally distinct from conventional insurance whereby the insurance company sells a policy protecting the insured against certain defined risks for a specified amount of money. Such conventional insurance arrangements involve no element of mutuality. In contrast, takaful is structured on the basis of mutuality and is intended to create an arrangement that is mutually beneficial for both the takaful operator and the participant.
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"Marriage contracts in Islamic history AMIRASONBOL." In Changing God's Law, 237–56. Farnham, Surrey, UK England ; Burlington, VT, USA :: Routledge, 2016. http://dx.doi.org/10.4324/9781315571232-21.

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"Islamic Law of Contracts and Business Transactions." In Understanding Islamic Finance, 99–128. Hoboken, NJ, USA: John Wiley & Sons, Inc., 2015. http://dx.doi.org/10.1002/9781119209096.ch5.

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Craig R, Nethercott. "Part II Islamic Law and Contracts in Practice, 7 Murabaha and Tawarruq." In Islamic Finance. Oxford University Press, 2020. http://dx.doi.org/10.1093/law/9780198725237.003.0007.

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This chapter focuses on the murabaha structure, which is probably the most commonly used Islamic finance structure in modern Islamic banking. The simplicity of structure in its current application has promoted its use as a popular and flexible Islamic financing instrument. Indeed, the use of the murabaha has been extended beyond a widespread application as a standalone instrument to a composite component of Sukuk issuance in modern application. The murabaha contract is understood within the Islamic tradition to have a pre-Islamic origin evidenced in pre-Islamic literature and characterized as a fiduciary contract with the objective to assist less knowledgeable buyers in the determination of the fair price of unfamiliar goods. Today, murabaha is commonly used as a mode of finance, in its variant structures, for the acquisition of assets, commodities, and goods in the ordinary course of trade. The structure is also used as a corporate finance tool for working capital and liquidity management. The chapter then considers commodity murabaha (tawarruq) and its application.
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Julian, Johansen, and Hanif Atif. "Part II Islamic Law and Contracts in Practice, 6 Musharaka and Mudaraba." In Islamic Finance. Oxford University Press, 2020. http://dx.doi.org/10.1093/law/9780198725237.003.0006.

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This chapter explores the origins, characteristics, and modern financial applications of two of the oldest forms of Islamic joint venture contracts: musharaka and mudaraba. A commonly held view of Islamic finance, based on the concept of transaction risk sharing, is that it is ‘equity-based’ rather than ‘debt-based’, and constitutes a ‘quasi-equity’ interest for each investor. This is certainly true for musharaka and mudaraba. They have, however, been adapted for the purpose of corporate and other modern financings to include debt-related elements: this is largely to allow financing institutions to classify these as equity-related or quasi-debt instruments from a risk perspective, whilst retaining the key hallmarks of a joint venture. In some cases, particularly in mudaraba structures, those debt elements closely follow provisions used in syndicated financings. From a Shari’a compliance perspective, then, ‘risk-participation’ remains the essential and distinguishing feature of musharaka and mudaraba, and secures their importance as a vital component of Islamic finance. At the same time, however, Islamic financial institutions will continue to look for ways in which to bridge the ‘risk gap’ between equity and debt instruments.
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Craig R, Nethercott. "Part II Islamic Law and Contracts in Practice, 9 Istisna’ and Ijara." In Islamic Finance. Oxford University Press, 2020. http://dx.doi.org/10.1093/law/9780198725237.003.0009.

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This chapter discusses how the contracts of istisna’ and ijara, alone and in combination, have found common modern application. The combination of istisna’ and ijara contracts in particular has found prominence in the project finance and asset finance sector, where in practice they operate like their conventional counterparts. Istisna’ is a contract of sale of specified items to be manufactured or constructed with an obligation on the part of the manufacturer (contractor) to deliver them to the customer on completion. Meanwhile, ijara is a term that means to give something in return for a rent. The ijara contract occurs principally in two situations. First, with respect to the provision of services. And second, with respect to the transfer of usufruct (or right of use) of an asset. In the second application, ijara is comparable to a conventional asset lease.
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David M, Eisenberg. "Part II Islamic Law and Contracts in Practice, 8 Derivatives and Islamic Finance." In Islamic Finance. Oxford University Press, 2020. http://dx.doi.org/10.1093/law/9780198725237.003.0008.

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This chapter studies how conventional derivatives—especially futures, options, and swaps—have been or may be based on bay’ salam, bay’ ʻurbun, and other traditional Islamic transaction structures. Bridging the gap between traditional Islamic transaction structures and conventional derivatives continues to be among the most urgent challenges facing the global Islamic finance industry, not least to provide Islamic financial institutions with a crucial tool for risk management. Salam and ʻurbun clearly illustrate the nature of the challenge to create Shari’a-compliant derivatives. Paradoxically, it is their deviation from the standard conditions for a valid sale contract that allow them to function to some extent as proxies for conventional derivatives. Among jurists, a consensus (ijma’) emerged as to the validity of salam, although special conditions were imposed not only to minimize gharar (uncertainty) and the kindred contractual defect of jahl (lack of knowledge), but also to reduce the possibility of riba (unlawful gain). There is still considerable debate among the various schools of law as to whether ʻurbun constitutes a valid sale contract under the Shari’a.
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"The Contracts of Absolution (al-Ibra) and Set-Off (al-Muqassah)." In Islamic Commercial Law, 145–53. Hoboken, NJ, USA: John Wiley & Sons, Inc., 2015. http://dx.doi.org/10.1002/9781119198956.ch12.

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Conference papers on the topic "Discharge of contracts (Islamic law)"

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Safnul, Dody, Tan Kamello, Hasim Purba, and Edy Ikhsan. "Protection of Legal Contracts from Islamic Perspective." In International Conference on Law, Governance and Islamic Society (ICOLGIS 2019). Paris, France: Atlantis Press, 2020. http://dx.doi.org/10.2991/assehr.k.200306.183.

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Bintang, Sanusi, Mujibussalim, and T. Haflisyah. "Choice of Law, Forum, and Language in International Investment Contracts of Aceh, Indonesia." In International Conference on Law, Governance and Islamic Society (ICOLGIS 2019). Paris, France: Atlantis Press, 2020. http://dx.doi.org/10.2991/assehr.k.200306.204.

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Dewi, Gemala, and Achmad Abdullah Farchan. "Legal Review of Collective Investment Contracts in Issuance of Sharia Mutual Fund Instruments According to Islamic Law (Case Study in Indonesia)." In The 2nd International Conference of Law, Government and Social Justice (ICOLGAS 2020). Paris, France: Atlantis Press, 2020. http://dx.doi.org/10.2991/assehr.k.201209.355.

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