ISSN: 2222-6990
Open access
Bill of Exchange is widely used in Islamic banking operations around the globe. This paper examines the issue of discounting the Bill of Exchange from a Sharia perspective. The study revolves around the issue of combining sale and borrowing (bay’ wa salaf). This qualitative research adopts a content analysis approach, using a descriptive, analytical, and comparative method to analyze the collected data. Based on the analysis, the study shows that discounting a Bill of Exchange in its traditional method raises concerns of usury. However, it is permissible to treat it as a form of paid agency. Additionally, it does not involve any impediments related to combining sales and borrowing contracts, making it permissible.
Ibn Taymiyyah, T. A. A. (1978). Ikhtiyarat al-Fiqhiyah. commentator: Ali ibn Muhammad ibn Abbas al-Baali. Dar al-Maarifa. Beirut, Lebanon
Al-Sulaiman, M. S. M (2005). Al-Adawat Al-Maliya Al-Mutadawla fi Souq al-Naqd. DarKnorr Ishbilia, Riyadh, first edition, 2005.
Ibn al-Qayyim, M. A. A. S. (1991). I'lam Al-Muwaqi'een 'An Rab Al-Alameen. Dar al-Kutub al-Ilmiyya. Beirut, first edition,
Al-Mardawi, A. A. Din. (n.d) Al-'Insaf fi Ma'rifat Al-Rajih min al-Khilaf. Dar Ihyaa al-Turath Al-Araby, Beirut.
Ismail, F. (n.d) Al-Ta'seel Al-Fiqhi li Bayi' al-Dien bi al-Dein wa Al-Takyif Al-Fiqhi li Hasm al-Kimbiyala, , Saleh Abdullah Kamel Center Magazine, p. 36
Ibn Abd al-Barr, A. Q. (1387). Al-Tamheed Lima fi al-Muwatta’, edited by: Mustafa bin Ahmad al-Alawi. Muhammad Abd al-Kabir al-Bakri, Ministry of Endowments and Islamic Affairs – Morocco
Al-Dasouqi, M. A. A. (n.d). Al-Maliki Hashiyat Al-Dasouqi ala Al-Sharh Al-Kabir. Dar Al-Fikr, 2nd Edition. Beirut, Lebanon
Ibn Abidin, M. A. (1992). Rad Al-Muhtar ala Al-Durr Al-Mukhtar. Dar Al-Fikr Beirut
Al-Ismail, A. K. M. (2011) Al-Umulat Al-Masrifiya Haqiqataha wa Ahkamaha Al- Fiqhiya, , Dar Kunuz Ishbiliya, Saudi Arabia, second edition.
Al- Sulaiman, M. S. M. (2005). Al-Adawat Al-Maliya Al-Mutadawla fi Souq al-Naqd, p. 285. 1st Edition, Dar Knorr Ishbilia, Riyadh.
Al-Turki, M. M. (2003). Al-Furu` wa ma’uhu Tashih Al-Furu’ lil Mardawi, 1st Edition Al-Risala Foundation, Beirut
Al-Bahooti, M. Y. (1997). Al-Qina’. Dar Al-Kutub Al-Ilmya, Beirut, first edition.
Al-Ghunaimi. A. G. G. (n.d) Al-Labbab Sharh Al-Kitab, edited, and commented on by: Muhammad Muhiy al-Din Abd al- Hamid, Al-Maktabah Al-Ilmiyah, Beirut, Lebanon,
Ibn Muflleh, I. M. A. M. (1423). Al-Mubdi’ Sharh Al-Muqni’. Dar Alam Al-Kutub. Riyadh, 1423 AH.
Al-Dubian. D. M. (1432). Al-Mu’amalat Al-Maliya Asalah wa Mu’asrah, Foreword: A Group of Sheikhs, King Fahd National Library, Riyadh Kingdom of Saudi Arabia, second edition, 1432 AH.
Hammad, N. (1429). A Dictionary of Financial and Economic Terms in the language of the jurists. Dar Al-Qalam - Damascus, first edition
Al-Sherbiny, A. (1994). Mughni al-Muhtaj Ila Ma’rifat al-Minhaj. Dar al-Kutub al-Ilmiyyah, Beirut, first edition, 1415 AH – 1994 AD.
Al-Ramly, S. (1404). Nihayat Al-Muhtaj Sharh Minhaj al-Talibin. Dar Al-Fikr, Beirut.
In-Text Citation: (Abdelrehim et al., 2023)
To Cite this Article: Abdelrehim, G. M. A., Yahaya, M. Z., & Ghani, N. A. R. N. A. (2023). Receiving Fees on Discounting a Bill of Exchange: A Sharia Analysis. International Journal of Academic Research in Business and Social Sciences, 13(5), 819 – 828.
© 2023 The Author(s)
Published by Human Resource Management Academic Research Society (www.hrmars.com)
This article is published under the Creative Commons Attribution (CC BY 4.0) license. Anyone may reproduce, distribute, translate and create derivative works of this article (for both commercial and non0-commercial purposes), subject to full attribution to the original publication and authors. The full terms of this license may be seen at: http://creativecommons.org/licences/by/4.0/legalcode