Please use this identifier to cite or link to this item: http://ir.lib.seu.ac.lk/handle/123456789/2771
Title: Credit cards on Islamic legal view
Authors: Sajna, Sainulabdeen Fathima
Nairoos, M.H.M.
Keywords: Islamic credit cards
Islamic perspective
Legal view
Application
Issue Date: 20-Sep-2017
Publisher: Faculty of Islamic Studies and Arabic Language, South Eastern University of Sri Lanka
Citation: 4th International Symposium. 20 September 2017. Faculty of Islamic Studies and Arabic Language, South Eastern University of Sri Lanka, Oluvil, Sri Lanka, pp. 348-361.
Abstract: The development of everyday financial instruments is an important dimension of modern life, and credit cards are considered to be the main instruments and facilitators of spending in modern economies. Together with the Internet, which facilitates the spending process, credit cards have become essential instruments of spending. In response to this, the development of Islamic banking and finance encourages Muslim scholars to create products which help Muslims to avoid ‘Riba’ including the issuing of Islamic credit cards. Although the practice of Islamic credit cards is still debatable among the scholars especially regarding to its contracts and effectiveness. So, this research aims to analyze the legal view of Shariah on credit cards based on Shariah principles and to examine the well suitable Islamic contract models for its fairer application among Islamic world. The researcher has taken Malaysian and Indonesian Islamic credit card models to analyze the permissibility of contracts. The research is designed as qualitative and data collected for this research are both primary and secondary sources. Primary data is collected by interview and discussion. Library references, books, journals, magazines, websites and any other banks related documents have been used as secondary data. Also this research is analyzed through comparative analyzing system. According to the data analyzed, the scholars are in different of opinions on the application of credit cards but the acceptable view is, it is permissible as long as to exclude any element of Riba (Interest).
URI: http://ir.lib.seu.ac.lk/handle/123456789/2771
ISBN: 978-955-627-121-8
Appears in Collections:4th International Symposium of FIA-2017

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