Bay‘ Murabaha as an Islamic Mode of Financing
Explains the legal position of bai‘ murabaha. Holds that it is lawful even if payment is made in cash or is deferred for the future. But adds a caveat: there is a danger of its misuse. The seller can make a wrong statement about its original price. Secondly, in case of deferred payment a margin may also be added as a price of time, which is riba. Therefore, banks should not use this mode extensively. Instead, they should open their own warehouses, assume all the business risks and sell the products with a profit-margin (if they can compete). A well-researched, brief paper. Based on primary sources. Documented. For Muslim economists and jurists.
Bay’ Murabaha as an Islamic Mode of Financing
Monetary and Financial Theory and Institutions
Ownership of Land and Land Tenure System in Islam
A comprehensive survey of different positions on muz'arra‘a. Examines and reconciles conflicting texts. Concludes that muzara‘a is lawful, both on a fixed sum and on sharing the produce of land. Based on primary sources. Documented. For jurists.