Islamic Banking & Finance : Law of contract & Business Transactions

Careers in the Islamic banking and finance sectors are limitless – both in terms of scope and potential for advancement. From the provision of banking services to financial advice to investment portfolio handling, the sector as a whole is uniquely dynamic and rewarding. Nevertheless, it takes a deeper understanding of the sector’s most important concepts and principles to get ahead. Islamic law of contract and business transactions being two key examples – both differing enormously from western banking standards. By familiarising yourself with how business is done in accordance with Islamic law, you’ll be one step closer to kick-starting the most incredible life-long career.

Explore the fascinating world of Islamic law of contract and business transactions with this insightful tutorial. Study a range of key concepts and sub-topics, including the elements of Islamic contracts, general framework of contracts, possession and certainty of delivery of the subject matter, free mutual consent, prohibition of Gharar, prohibition of two mutually contingent contracts, token money (Hamish Jiddiyah) and ‘Arb¯un, types of contracts, valid contracts, binding (L¯azim) and nonbinding contracts, legal status of the F¯asid (voidable) contract and more.