Eine Plattform für die Wissenschaft: Bauingenieurwesen, Architektur und Urbanistik
Eine Plattform für die Wissenschaft: Bauingenieurwesen, Architektur und Urbanistik
Assessment of Ta’widh and Gharamah in Islamic Financing Contract and Its Applicability Potential for Construction Works Contracts
Ta'widh and gharamah are the Shariah compliant late payment charges primarily used for Islamic financial contracts. Seven identified themes were used to qualitatively compare and contrast between the Guidelines on Late Payment Charges for Islamic Banking Institutions (2012) against the provisions of interest for late interim payment from four Malaysian construction works contracts. The findings revealed similarities and differences for identification of Shariah compliance. Recommendations were made for the harmonisation of ta’widh and gharamah in the construction works contracts while ensuring its practical and legal applicability. The outcome is beneficial for Islamic organisations and Muslims involved with the construction works. Keywords: ta’widh and gharamah, late payment, interest,construction, eISSN: 2398-4287© 2020. The Authors. Published for AMER ABRA cE-Bs by e-International Publishing House, Ltd., UK. This is an open access article under the CC BYNC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/). Peer–review under responsibility of AMER (Association of Malaysian Environment-Behaviour Researchers), ABRA (Association of Behavioural Researchers on Asians) and cE-Bs (Centre for Environment-Behaviour Studies), Faculty of Architecture, Planning & Surveying, Universiti Teknologi MARA, Malaysia. DOI: https://doi.org/10.21834/ebpj.v5i15.2504
Assessment of Ta’widh and Gharamah in Islamic Financing Contract and Its Applicability Potential for Construction Works Contracts
Ta'widh and gharamah are the Shariah compliant late payment charges primarily used for Islamic financial contracts. Seven identified themes were used to qualitatively compare and contrast between the Guidelines on Late Payment Charges for Islamic Banking Institutions (2012) against the provisions of interest for late interim payment from four Malaysian construction works contracts. The findings revealed similarities and differences for identification of Shariah compliance. Recommendations were made for the harmonisation of ta’widh and gharamah in the construction works contracts while ensuring its practical and legal applicability. The outcome is beneficial for Islamic organisations and Muslims involved with the construction works. Keywords: ta’widh and gharamah, late payment, interest,construction, eISSN: 2398-4287© 2020. The Authors. Published for AMER ABRA cE-Bs by e-International Publishing House, Ltd., UK. This is an open access article under the CC BYNC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/). Peer–review under responsibility of AMER (Association of Malaysian Environment-Behaviour Researchers), ABRA (Association of Behavioural Researchers on Asians) and cE-Bs (Centre for Environment-Behaviour Studies), Faculty of Architecture, Planning & Surveying, Universiti Teknologi MARA, Malaysia. DOI: https://doi.org/10.21834/ebpj.v5i15.2504
Assessment of Ta’widh and Gharamah in Islamic Financing Contract and Its Applicability Potential for Construction Works Contracts
Mohamad Hamdan, Noor Aishah (Autor:in) / Ahmad Sarkawi , Azila (Autor:in) / Abdullah Habib , Siti Nora Haryati (Autor:in) / Othman, Ahmad Azam (Autor:in)
25.12.2020
doi:10.21834/ebpj.v5i15.2504
Environment-Behaviour Proceedings Journal; Vol. 5 No. 15 (2020): Dec. AIVCE-BS-2, 2020ShahAlam, 2nd Series, 02-03 Dec 2020 ; 255-262 ; 2398-4287 ; 10.21834/ebpj.v5i15
Aufsatz (Zeitschrift)
Elektronische Ressource
Englisch
DDC:
690
| British Library Conference Proceedings | 1995
Cost Plus Contracts for Water Works Construction
| Wiley | 1920
Factors Limiting Financing of New Water Works Construction
| Wiley | 1957
| Wiley | 1934