Title:
ANALYSIS ON METHOD OF DHA' WA TA'AJJAL WITH DECISION BY SECURITIES COMMISSION SHARIAH ADVISORY COUNCIL (MPS SS) IN THE CONTEXT OF ISLAMIC FINANCING IN MALAYSIA

Authors:
Muhamad Zuhaili bin Saiman, (Dr.) Ahmad Dahlan bin Salleh

Volume - 2 Issue - 6, Pages - 3713-3723

Abstract:
Malaysia Islamic financing in the context of capital markets apply the method of dha' wa ta'ajjal to reduce the delay when early statement is made. It is based on the requirement by the decision of the Securities Commission Shariah Advisory Council (MPS SS). Meanwhile, the dha' wa ta'ajjal is rejected by the majority of scholars reason that it resembles riba al-nasiah. Accordingly , the researchers placed the three objectives in this study. First, discuss the views of the scholars of law rules dha' wa ta'ajjal. Second , examine correlation methods dha' wa ta'ajjal with the concept of time value of money according to shariah perspective. Third , analyze the decision of the Securities Commission Shariah Advisory Council (MPS SS) that require the use of methods dha' wa ta'ajjal with different views of the scholars . Methodology used is qualitative research approach literature review and analysis of data retrieval. Issues that need to be refined is a term that gives the increase or decrease in value whether it is included in a usury or not. Despite the changes associated with the element synonymous with usury but it is not absolutely based on the difference of mechanisms and policies that do contract . The findings showed that the majority view of scholars who reject the rule dha' wa ta'ajjal is to close the door of usury, but it is not practically conclusive of all time which is constantly changing. In conclusion, the results of which requires methods dha' wa ta'ajjal based on the minority opinion's scholar by the basis of details of the mechanism and the basis of contracts different with riba al-nasiah.

Cite this Article:

[Saiman, Muhamad Zuhaili Bin, and Ahmad Dahlan Bin Salleh, Dr. "ANALYSIS ON METHOD OF DHA' WA TA'AJJAL WITH DECISION BY SECURITIES COMMISSION SHARIAH ADVISORY COUNCIL (MPS SS) IN THE CONTEXT OF ISLAMIC FINANCING IN MALAYSIA." International Journal of Social Science & Economic Research 2.6 (2017): 3713-723.]