Riaz Ansary



  Title Category / Type

Islamic Legal Maxims and Their Application in Islamic Finance

ISRA’s Islamic Legal Maxims and Their Application in Islamic Finance is one of the most comprehensive compilations of Islamic legal maxims available in English. The most important feature of this book is that it explains each maxim in a way…


Gharar in the Crude Palm Oil Futures Contract: A Critical Analysis of the Resolution of the Malaysian Securities Commission Shariah Advisory Council—Part I

Until 2007, Malaysia was the largest producer and exporter of palm oil and palm oil products in the world. It still accounts today for 39% of world palm oil production and 44% of world export. Malaysia’s contribution to the palm…

Research Paper

Zakah on Non-Current Bank Debts: Evaluation of the Theoretical Framework

In the name of Allah, Most Merciful, Ever- Merciful Although the issue of zakāh on non-current banking debts has been repeatedly treated by fiqh councils and in zakāh conferences, the final word on it has not yet been spoken. That…

Research Paper

Debt from Shariah and Economic Perspectives: Concepts, Issues and Implications

Stakeholders in the Islamic finance industry have been debating the relative importance of debt-based and equity-based financing for decades. Islamic economists generally advocate a shift toward equitybased instruments while some Sharīʿah advisors and practitioners defend the existing reliance on debt-based…

Research Paper

The Desire for Financial Security as a Contributor to Systemic Instability

The human desire for security is innate, and the desire for financial security is an important part of that. Savers would like to see their savings remain intact until the time of need, but beyond that they would like to…


Fiqhī views on bayʿ wa salaf and qard -based Islamic banking deposit accounts in Malaysia

Purpose – Islamic banks are obliged to carry out transactions that only comply with Islamic commercial laws. Malaysia has been championing the Sharīʿah-based banking system, and so, continuous improvement on the compliance level of the institutions offering Islamic financial services…

Journal (English)

Islamic Financing Using the Format of a Sale with the Exception of the Usufruct: An Applied Study of the Products of American Finance House LARIBA

The research comprises an introduction and six sections followed by a conclusion containing the most important results. The introduction provides a definition of Islamic financing using the format of a sale with the exception of the usufruct. This term refers…

Research Paper

Islamic Finance and Sustainable and Responsible Investment (SRI): An Ethical Dimension

EXECUTIVE SUMMARY The immoral behaviour of some conventional bankers in the lead-up to the Global Financial Crisis of 2007-2008 focused public attention on the social costs of marginalizing ethical considerations in the financial system. Islamic finance garnered substantial positive publicity…

Research Paper

Utilisation of Zakah and Waqf Funds in Micro-Takaful in Malaysia: An Exploratory Study

Micro-takāful is a Sharīah-compliant mode of protection for poor and underserved communities against risks and misfortunes. Regular takāful is business-oriented and targets participants with financial capabilities. Micro-takāful, on the other hand, is dedicated to low-income groups that are partly or…

Research Paper

Zakāh Accounting of Contemporary Companies According to the Criterion of Affluence in Sharīʿah - A New Practical Model to Calculate the Zakāh Of Banks, Companies and Individuals

THE SCOPE OF THE STANDARD   This standard deals fundamentally with zakāh accounting of contemporary companies and similar entities.[1] That is despite the differences in their legal entities, legal forms, purposes and areas of profit-seeking operations; for example banks, companies,…


Survey and Analytical Study of The Reality of Zakāh in Islamic Banks

Preface   Zakāh is a divine obligation and a financial act of worship. It is the middle pillar of the five pillars of Islam. Allah Almighty has legislated this economic system to realize lofty economic, social and developmental objectives. The…


Accepting Deposits in Islamic Banking Operations: Sharīʿah Issues and General Parameters

EXECUTIVE SUMMARY Accepting Deposits in Islamic Banking Operations: Sharīʿah Issues and General Parameters   Acceptance of deposits is one of the most significant activities of an Islamic banking business, along with acceptance of money for investment and provision of financing…

Research Paper

Sale with the temporary exclusion of usufruct: A critical examination of its use in financing home purchases

Purpose This paper aims to investigate sale with the temporary exclusion of usufruct, a format debated in classical Islamic jurisprudence. More specifically, it examines the application of this sale format in the diminishing partnership arrangement used by American Finance House…

Journal (English)



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