An overview of Shari'ah issues regarding the application of the Islamic letter of credit practice in Malaysia

• Main Authors: Othman, Ahmad Azam, Che Hashim, Rosmawani, Abdul Aziz, Akhtarzaitie
• Format: Article
• Language: English
• Published: International Shari'ah Research Academy for Islamic Finance (ISRA) 2010
• Subjects: KBP173.25 Islamic law and other disciplines or subjects
• Online Access: http://irep.iium.edu.my/3011/1/An_overview_of_sharia%27h_issues_regarding_the_application_of_the_Islamic_letter_of_credit_practice_in_Malaysia.pdf; http://irep.iium.edu.my/3011/; http://www.isra.my/publications/journal/english/volume-2-dec-2010.html?tmpl=component&print=1
• Institution: Universiti Islam Antarabangsa Malaysia

The Letter of Credit (LC) serves as an instrument of payment in international trade. Its aim is to facilitate trade between seller and buyer in different countries. To date, the Islamic banking environment promotes the use of the Islamic LC as a method of financing in international trade, particular...