Open AccessPermissibility of Charging Fees against Guarantee Fundamental and Analytical Study of Resolutions of (SAC-BNM)
Author(s) -
Mowaffak Noureddin,
Azman Bin Mohd. Noor,
Arif Ali Arif
Publication year - 2022
Publication title -
al hikmah international journal of islamic studies and human sciences
Language(s) - English
Resource type - Journals
ISSN - 2637-0581
DOI - 10.46722/hkmh.5.1.22j
Subject(s) - fiqh , debt , analogy , islamic banking , descriptive research , accounting , islam , business , law and economics , descriptive statistics , law , economics , finance , sociology , political science , sharia , epistemology , philosophy , theology , social science , mathematics , statistics
This research studies the permissibility of guarantee with fees (kafalah bi al-ujrah) and analyzes it from the perspective of Fiqh and Usul Al-Fiqh, as it is considered one of the important issues in the field of Islamic finance. The issue has been studied in light of the resolutions adopted by the Shari’ah Advisory Council, Bank Negara Malaysia (SAC-BNM) in this regard. The researcher used the descriptive research method on descriptive related studies to describe the issue, while the analytical method was used in analyzing the issue, critically discussing it, and providing solutions to it. Among the findings of this research are: The absence of Qur’anic verses and Prophetic hadiths that forbid the issue does not mean the ability to rely on the two resources i.e., interest and analogy (qiyas, Maṣlaḥah) in the permissibility of charging fees without restrictions. The guarantee corporations should only demand the amount of the debt they have paid on behalf of the borrowers. The guarantee corporations are not allowed to charge any additional amount more than their actual expenses.