The Application of Murābaha Contract in Islamic Banking from Muslim Jurists’ Perspective

Abstract

<span style="font-family: PalatinoLinotype-Italic; font-size: 9pt; color: #000000; font-style: normal; font-variant: normal;"><em>High needs of the society needs on Islamic banking services tends to be viewed by bankers</em><br /><span style="font-family: PalatinoLinotype-Italic; font-size: 9pt; color: #000000; font-style: normal; font-variant: normal;"><em>to produce more products that can be used to answer the need of financing and easy transaction</em><br /><span style="font-family: PalatinoLinotype-Italic; font-size: 9pt; color: #000000; font-style: normal; font-variant: normal;"><em>acted by people. Hence, one of the Islamic banking transaction that attracts the society enthusiastic to be used is murābaha. In theory, the murābaha is allowed in Islam, therefore the</em><br /><span style="font-family: PalatinoLinotype-Italic; font-size: 9pt; color: #000000; font-style: normal; font-variant: normal;"><em>society want to use it, but it may be in practice of murābaha can be found the prohibited</em><br /><span style="font-family: PalatinoLinotype-Italic; font-size: 9pt; color: #000000; font-style: normal; font-variant: normal;"><em>transaction such as riba, gharar, and gambling. By then, this paper attempts to analyse the</em><br /><span style="font-family: PalatinoLinotype-Italic; font-size: 9pt; color: #000000; font-style: normal; font-variant: normal;"><em>practice of murābaha in Islaminc banking from the thought of Muslim jurists either classical</em><br /><span style="font-family: PalatinoLinotype-Italic; font-size: 9pt; color: #000000; font-style: normal; font-variant: normal;"><em>or contemporary time. The method used for the study is comparative analysis on law produced</em><br /><span style="font-family: PalatinoLinotype-Italic; font-size: 9pt; color: #000000; font-style: normal; font-variant: normal;"><em>by the Muslim jurists such as al-Mãlikiyah, al-Shafi‘iyah, al-hanafiyyah, and al-Hanãbilah.</em></span></span></span></span></span></span></span></span>