Tawarruq

Tawarruq (Monetization/ Cash Financing/ Cash Procurement): Tawarruq is the infinitive (masdar) of the verb tawarraqa (to eat leaves); it is said as tawarraqa al-hayawan (i.e., the animal ate the leaves). Literally: from wariq: silver; also dirhams, which are coined from silver. Awraqa: to become rich. Some say it refers to both minted and non-minted silver (al-fidhah al-madhrubah or al-fidhah ghayr al-madhrubah). Tawarruq was, therefore, used by earlier generations for the purpose of seeking silver money, while it is used nowadays for seeking paper money, and that is a valid literal usage derived from the same word. Hence, the monetisation beneficiary is called mutawarriq. Technically: tawarruq is a term commonly used in the books of the Hanbali school of law while other schools mention the form of tawarruq under the rubric of bay' al-ajal and bay' al- 'inah (sale and buyback). Hence, the technical meaning varies according to its different types. The Al-Mawsu'ah al-Fiqhiyyah Al-Kuwaytiyyah (Fiqh Encyclopedia of Kuwait) defined tawarruq as buying a commodity with deferred payment and selling it to a person other than the buyer for a lower price with immediate payment. See ISRA Islamic Financial System: Principles and Operations for further details.


Can a False Statement Be Made to the Authorities to Facilitate Tawarruq?
Deposit And Financing Products Based On Tawarruq
International Commodity Murabahah
Resolution No. 179 (19/5): Tawarruq: its meaning and types [Organised Tawarruq Impermissible in 2009]
Prohibition of Al-Tawarruq Al-Munazzam in 2007
Rules Of Tawarruq
Tawarruq Using Cement as the Commodity
Tawarruq When the Bank Does Not Involve Itself in the Customer’s Resale of the Good
Tawarruq With a Conventional Bank
Using Cars as the Commodity in Tawarruq
What Is the Shariah Ruling on the Following Process of Tawarruq?
The Shariah Advisory Council of Bank Negara Malaysia (the SAC) 151st Meeting
The Shariah Advisory Council of Bank Negara Malaysia (the SAC) 146th Meeting
The Shariah Advisory Council of Bank Negara Malaysia (the SAC) 144th Meeting
The Shariah Advisory Council of Bank Negara Malaysia (the SAC) 134th Meeting
The Purchase Undertaker by Deferred Payment Wants to Sell the Good before Completing the Payments
التورق المصرفي: اعتماد صيغة التورّق أسلوبًا في التمويل
Revisiting The Rulings On Bai' 'Inah
Sale Of The Tawarruq Asset By The Customer To The Third Party: Issue Of Delivery And Payment

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