BASIC SHARI’AH PRINCIPLES FOR ISLAMIC FINANCIAL
PRODUCTS AND SERVICES
The underlying fundamentals of Islamic financial transactions form the basis of the difference between conventional and Islamic financial instruments. Modern Islamic finance began with the emergence of Islamic banking, where products and services are not based on Riba (interest). As the industry grew, many other financial products in the insurance and capital market sectors were adapted to incorporate Sharicah compliant aspects. Product innovation has been significant in the Islamic financial services industry over the last decade, resulting in a wide array of Islamic instruments being introduced in the market. Sharicah compliance rules have been developed for equity, debt and securitization products are many in the process of being extended to structured products and examined for derivatives as well. Rules to determine Islamic compliant operations have also been developed for the banking, broking, investment management and advisory services.
In fact we can say that the Islamic financial market runs parallel to the conventional financial market and provides investors with an alternative investment philosophy that is rapidly gaining acceptance. The fact that the Islamic financial market does not prohibit participation from non-Muslims creates unlimited upside to the depth and breadth of this market offer today, clearly an authoritative body is required to define and provide guidance on what is and is not permissible under Islamic law. It is imperative that this body must possess adequate infrastructure to enable the system to operate and function efficiently and effectively. Towards this end, the Islamic Capital Market Unit within the Securities Commission's Market Policy and Development Division has to be mandated to research and develop products and activities pertaining to the Islamic financial markets globally.
The general criteria in evaluating the status of Shari cah-approved securities are that the companies are not involved in the following core activities:
• Financial services based on Riba (interest)
• Gambling
• Manufacture or sale of non-halal products or related products
• Conventional insurance
• Entertainment activities those are non-permissible according to Shari cah
• Manufacture or sale of tobacco-based products or related products
• Stock broking or share trading in non-Shari cah approved securities
• Other activities deemed non-permissible according to Shari 'A.
Tugas: BUAT KELOMPOK (BERDUA), COPY, TERJEMAHKAN KEMUDIAN CARI SATU KEY WORD BERI ANALISIS DENGAN MEMBANDINGKAN 2 PEMIKIRAN MAZHAB DENGAN ALASAN MASING MASING
CONTOH:
BASIC SHARI’AH PRINCIPLES FOR ISLAMIC FINANCIAL
PRODUCTS AND SERVICES (………………………………………..)
……………..TERJEMAHANNYA………………………………………
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Key Word: Asuransi
Pandangan Ulama:
Ulama A menyatakan……………………….
Alasan………………………………………
Ulama B menyatakan………………………..
Alasan……………………………
Sumber:
(Selamat Bekerja, Waktu 2 Minggu sejak tanggal blog ini dibuat…. kumpulkan dengan bu Wita)
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