Modern applications of hibah in the light of shari'ah objectives of gift and donation contracts (al-tabarru'at)

• Main Author: Ali, Mohammed Farid
• Format: Article
• Language: English
• Published: Center for Islamic Sciences 2015
• Subjects: BL Religion; HG Finance; HV Social pathology. Social and public welfare; KBP Islamic Law
• Online Access: http://irep.iium.edu.my/44234/1/JIS-13-1-Hiba-fff.pdf; http://irep.iium.edu.my/44234/; http://www.cis-ca.org/islamscience1.php
• Institution: Universiti Islam Antarabangsa Malaysia

After presenting the Sharīʿah objectives of both tabarruʿāt and hibah briefly, this paper looks at the applications of hibah as a “supporting Sharīʿah concept” in four contracts proposed to the Shariah Advisory Council of Bank Negara Malaysia (SAC). The four contracts are (1) Interbank Mudarabah Inv...