Since 2014
Islamic Formula of Future Value of Asset
European Journal of Islamic Finance
View Archive Info| Field | Value | |
| Title |
Islamic Formula of Future Value of Asset
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| Creator |
Naqvi, Imran Haider; Center of Islamic Finance, COMSATS Institute of Information Technology, Lahore
Naveed, Zainab; Center of Islamic Finance, COMSATS Institute of Information Technology, Lahore |
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| Subject |
Future Value of Asset, Islam
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| Description |
Increasing price of an asset being sold on credit is a common practice of Islamic Financial Institutions (IFIs) and certain retailers using formulas of compound interest (Riba) and speculation (Maysir). As Islam prohibits both these both concepts, relevant literature was qualitatively probed to find Shariah compliant mechanism for setting future value of an asset being sold on credit negating Riba and Maysir. The study thus extracted a formula from authentic Shariah sources and presented it quantitatively as an alternate to abandon the conventional formulas of interest and speculation. It further contributed recommendations for credit sellers and buyers in the light of Shariah principles and possible future research.
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| Publisher |
University of Turin - Italy
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| Contributor |
Center of Islamic Finance, CIIT Lahore, Pakistan
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| Date |
2015-12-26
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| Type |
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion Peer-reviewed Article |
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| Format |
application/pdf
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| Identifier |
http://www.ojs.unito.it/index.php/EJIF/article/view/1075
10.13135/2421-2172/1075 http://www.ojs.unito.it/index.php/EJIF/article/download/1075/1185 |
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| Source |
European Journal of Islamic Finance; No 3 (2015): EJIF - European Journal of Islamic Finance, 3, 2015
European Journal of Islamic Finance; No 3 (2015): EJIF - European Journal of Islamic Finance, 3, 2015 2421-2172 |
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| Language |
eng
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| Relation |
http://www.ojs.unito.it/index.php/EJIF/article/view/1075/1185
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| Rights |
Copyright (c) 2015 European Journal of Islamic Finance
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