The steady development of the Islamic capital market across the globe in recent years has positioned it as a significant counterpart to conventional interest-based financing. As the need for global funding continues to grow, Islamic capital market products have attracted the interest of a vast segment of market participants, not just Muslims.

 

Shariah Rulings and Opinions on Ijarah, Musharakah and Mudharabah – the third title in Securities Commission Malaysia’s Islamic Capital Market Series published by Sweet & Maxwell Asia – is a compilation of rulings and opinions on Islamic capital market issues relating to three increasingly important Islamic financing applications. These rulings and opinions deal with the basics of ijarah, musharakah and mudharabah, their application in relation to the issuance of sukuk, and further issues pertaining to each application in sukuk.

 

With the aim of giving readers a clear understanding and guidance on fiqh in the Islamic capital market, the rulings and opinions in this compilation are drawn from twelve well-accepted and authoritative bodies and scholars:

 

-          Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI)

-          Bank Indonesia

-          Bank Negara Malaysia

-          Dallah Al-Baraka

-          Dallah Al-Baraka (Research)

-          Islamic Fiqh Academy

-          Kuwait Finance House (KFH)

-          Majelis Ulama’ Indonesia

-          Securities Commission Malaysia

-          Sheikh Hussain Hamed Hassan

-          Sheikh Muhammad Taqi Usmani

-          Nazih Kamal Hammad

 

This compilation is a useful Shariah business resource for bankers, investors, regulators, lawyers and all who are concerned that market transactions are carried out in ways that comply with Islamic principles.