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FIQH MUAMALAT
CHAPTER 1B
INTRODUCTION TO FIQH
MUAMALAT
Content
Introduction
The Concept of Buying and Selling
Legal Evidence:
Quran
Sunnah
Categories of Transaction
Classification of Contracts
INTRODUCTION
Muamalat is plural and the singular word is
muamalah. Muamalah is from the verb aamala
Literally
Dealings, social intercourse, behaviour, transaction; to
interact. Muamalat means interactions or transactions.
Technically
Sharia rules which pertain to widely life
LEGAL EVIDENCE
Al-Quran
LEGAL EVIDENCE
Sunnah
No one has ever eaten better food than what he
eats as a result of the labour of his hands (Sahih alBukhari)
The merchants will be raised up on the Day of
Judgement as evil-doers except those who fear
Allah are honest and speak truth (Sunan Ibn Majah)
The Prophet (s.a.w) also declares to the effect: The
merchants who speaks the truth and honest is in
the same place with the Prophets, the Sincerers
(lovers of truth) and Martyrs (Sunan Ibn Majah)
Ijma
The Muslims are in agreement uninamously that
sale is permitted.
Conducting sales is the natural right of the people
CATEGORIES OF
TRANSACTIONS
Categories of Transactions In General
Barter Trading (Muqayadah)
Cash Trading ( Bay Mutlaq)
Bay' mutlaq is an Arabic term that translates into absolute sale. A
sale (ba'i) that involves the exchange of an asset for specified
monetary units (the price)
BARTER TRADING
(MUQAYADAH)
Direct exchange of goods for other goods, without use of
money
2 concurrent conditions for barter trade that involved Ribawi
items:
Time Factor: the exchange must be on the spot
Quantity Factor: must be equal regardless of quality
BAY AL-SARF
The exchange of one currency to
another currency or the trading of
local currency too a foreign
currency
AQAD (CONTRACT)
Literally:
Tying tightly, as in tying a rope. It also means
to make covenant and to give an oath.
Thus, the word aqd carries the meanings of
covenant and fulfillment.
Technically:
An engagement and agreement between two
persons in a legally accepted, impactful and
binding manner
CLASSIFICATION OF
CONTRACT
Contract Of Exchange/ Transfer Of
Property (Aqad Al-Muawadat)
Contract Of Security (Aqad Al-Tawthiqat)
Contract Of Partnership (Al-Shirkah)
Contract Of Safe Custody/ Investment
(Al-Wadiah)
Contracts Pertaining To Utilization Of
Usufruct (Uqud Al-Manfaah)
Contracts Pertaining To Work/ Services