An overview of Shariah

principles in financial
transaction

Khairuddin Zakaria
khairuddinzakaria@gmail.com

Classification of Shariah principles

in financial transaction

Classification

Sale-based Profit-sharing Lease-based Fee-based Free-of-charge Supporting

principles principles Principles Principles Principle Contract

1
 Sales-based
Principles
(fundamental
contract in
Islamic law)

Transaction
transaction
Transaction based on
base on
base on deferment
Exchange
legitimacy of Payment
items
of contract or subj.
matter

Bai ‘bithaman
Forward
Barter trade General sale ajil
(forex) contract
(bai al- (bai’ Normal sale Sale with
al-sarf Bai
muqayadah) al-mutlaq) deferred
al-salam
3
payment

Transaction
Base On
disclosure of Cost and
price/ loss

Normal
Fiduciary Sales
bargaining Sale
Buyu’ al-amanah)
(Bay’ al-musawamah)

Bai’
al murabahah Tawliyyah Wadiah
Cost-plus sale

2
 Profit-sharing
principles

Mudarabah Musharakah

Lease-based
Principles
Ijara

Ijara or Manafa at al-ayn Ijara or manfa at al amal

Corporeal property Personal service

3
 Fee-based
principle

Wakalah
kafalah

Free-of-charge
Principle

Quard Hassan

4
 Supporting
contracts

Hawalah Wadiah
Rahn

Thank you
‫ﺷﻜﺮا ﺟﺰﯾﻼ‬

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