The Application of Murābaha Contract in Islamic Banking from Muslim Jurists’ Perspective

Mohammad Ghazali

Abstract

High needs of the society needs on Islamic banking services tends to be viewed by bankers
to produce more products that can be used to answer the need of financing and easy transaction
acted by people. Hence, one of the Islamic banking transaction that attracts the society enthusiastic to be used is murābaha. In theory, the murābaha is allowed in Islam, therefore the
society want to use it, but it may be in practice of murābaha can be found the prohibited
transaction such as riba, gharar, and gambling. By then, this paper attempts to analyse the
practice of murābaha in Islaminc banking from the thought of Muslim jurists either classical
or contemporary time. The method used for the study is comparative analysis on law produced
by the Muslim jurists such as al-Mãlikiyah, al-Shafi‘iyah, al-hanafiyyah, and al-Hanãbilah.

Keywords

Aqad, Muslim Jurists, murābaha

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