Hiyal in Islamic finance: a recognition of genuine economic need or circumvention of Riba?

• Main Authors: Syed, Ehsanullah Agha, Omar Mohamad, Mustafa
• Format: Article
• Language: English; English
• Published: Emerald Group Publishing Ltd. 2017
• Subjects: HG Finance; HG3368 Islamic Banking and Finance
• Online Access: http://irep.iium.edu.my/62913/1/62913_Hiyal%20in%20Islamic%20finance%20a%20recognition%20of%20genuine%20economic_article; http://irep.iium.edu.my/62913/2/62913_Hiyal%20in%20Islamic%20finance%20a%20recognition%20of%20genuine%20economic_scopus.pdf; http://irep.iium.edu.my/62913/; https://www.emeraldinsight.com/doi/pdfplus/10.1108/QRFM-05-2017-0041
• Institution: Universiti Islam Antarabangsa Malaysia

(singular of � hiyal) is an Islamic juristic term which refers to the application of acumen and ingenuity to avoid hardship in one’s commitment to Islamic rulings. It has been used as a legal device in Islamic jurisprudence to actualize a legitimate objective. Particularly, it plays a significant...