MORABAHA - Give your comments on how Morabaha permission...

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Give   your   comments   on   how   Morabaha  permission   are   guided   by   Fuquha   and   how  Morabaha   transaction   are   structured   in   the  guidance of these permission. Your explanation  should be in bullet form only. Fuqaha (Islamic Scholars) Imam Malik: Both parties in Morabaha Contract are legally bound to fulfill the terms of contract. Any mis-declaration or  mis-commitment from any party towards the contract, offender would be liable to legal proceedings. Other  schools took it as religious obligation and legal binding if it is to the interest of the public. Contract of such  nature needs great technical accuracy and a sound knowledge of Shariah. The binding nature of the  Morabaha contract might require the endorsement of the legislations in some Islamic countries where such  transactions are in practice. Imam Baghi: Contract concluded towards who purchases the camel because of need of others and then sell at a higher  price. Such contracts end in two sales, o Firstly,  they are purchased in cash. o
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MORABAHA - Give your comments on how Morabaha permission...

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