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All Journal SAMARAH: Jurnal Hukum Keluarga dan Hukum Islam Jurnal Ilmu Ekonomi dan Bisnis Islam
Nik Abdul Ghani, Nik Abdul Rahim
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Economics, Econometrics & Finance Law, Crime, Criminology & Criminal Justice Social Sciences

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Deemed Consent in Islamic Banking from Contract Law Perspective: A Sharia Analysis Nik Abdul Ghani, Nik Abdul Rahim; A Shukor, Abdul Rahman
Samarah: Jurnal Hukum Keluarga dan Hukum Islam Vol 8, No 1 (2024): Samarah: Jurnal Hukum Keluarga dan Hukum Islam
Publisher : Islamic Family Law Department, Sharia and Law Faculty, Universitas Islam Negeri Ar-Raniry

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22373/sjhk.v8i1.16305

Abstract

This paper is specifically focusing on the issue of deemed consent as applied in modern Islamic financial contracts. It has been recognized by some scholars and rejected by others. The purpose of this study is to examine the meaning of deemed consent in contract law and its recognition from the Sharia point of view. It begins with examining the meaning of sighah and deemed consent from civil law as well as Islamic law perspective and followed by the analysis of the effect of silence in the validity of acceptance in Islamic law of contract. The approach that is applied in this study is qualitative research in nature, with regards to documentation and secondary sources by reviewing and analyzing the fiqhi perspective of consent and silence in Islamic law; by taking into consideration current practice of financial industry. The findings of the study are that deemed consent in the law can be considered as an acceptance. It is understood by the buyer indicating his consent to the sale by his conduct or silence. Generally, absolute silence in banking transactions is not an acceptance, but that there must be evidences or clues indicating the consent of customers. As such the non-absolute silence can be considered as acceptance in the Islamic law by taking into consideration some Sharia parameters proposed in this study. Interestingly, this idea is also shared by the Common law. Accordingly, based on the analysis conducted in this study, tacit acceptance, or implied acceptance is one of the means of expressing contemporary consent that can be applied. This study develops Sharia parameters consisting of five items as important guidelines in applying deemed consent in the Islamic banking.
Product Innovation of Deposits in Islamic Banking: Challenges and Opportunities After the Enforcement of the Islamic Financial Services Act 2013 Nik Abdul Ghani, Nik Abdul Rahim; Mohd Saffai @ Mohd Shafie, Mastura
Samarah: Jurnal Hukum Keluarga dan Hukum Islam Vol 9, No 1 (2025): Samarah: Jurnal Hukum Keluarga dan Hukum Islam
Publisher : Islamic Family Law Department, Sharia and Law Faculty, Universitas Islam Negeri Ar-Raniry

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22373/sjhk.v9i1.26941

Abstract

This article aims to analyze the changes in the structure and operations of deposit products in Islamic banking following the enforcement of the Islamic Financial Services Act 2013 (IFSA). The stricter Shariah compliance requirements and regulations introduced by IFSA have affected how Islamic banking institutions classify and offer their deposit products. The main issue faced is how Islamic banking institutions can maintain the competitiveness of their deposit products while ensuring adherence to Shariah principles and strict regulatory requirements. The objective of this study is to identify the challenges and opportunities in Islamic deposit product innovation, as well as strategies that can be used to attract customer interest and enhance their understanding of these products. The methodology used in this study involves content analysis and semi-structured interviews with officers from Bank Islam and Bank Muamalat, two leading Islamic banking institutions in Malaysia. The findings show that there is an urgent need for innovation in Islamic deposit products, particularly in the use of Shariah contracts such as wakalah and tawarruq. The study also found that while there are challenges in ensuring Shariah compliance, there are significant opportunities to enhance the competitiveness of Islamic deposit products through more effective marketing strategies and improved customer understanding. This article provides an in-depth insight into the potential and obstacles in the development of Shariah-compliant Islamic deposit products, as well as recommendations for improvements in the operations and offerings of these products.
Reconciling Scalping With Islamic Principles: A Qualitative Study on Stock Trading In Malaysia Nazri, Hanafi; Nik Abdul Ghani, Nik Abdul Rahim
Jurnal Ilmu Ekonomi dan Bisnis Islam Vol 7 No 1 (2025)
Publisher : Program Studi Ekonomi Syariah, FEBI UIN Datokarama Palu

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24239/jiebi.v7i1.355.105-122

Abstract

Scalping, a high-frequency trading strategy characterized by rapid buy-and-sell transactions to capture small price movements, has become increasingly common in modern stock markets. Its legitimacy under Islamic commercial jurisprudence (fiqh muʿāmalāt), however, remains debated due to potential elements of maysir (gambling), gharar (excessive uncertainty), and bayʿ al-najash (deceptive bidding). Addressing the lack of focused research on this issue within Malaysia’s Islamic capital market, this study employs a qualitative descriptive approach through document analysis of classical jurisprudential texts, contemporary academic literature, and regulatory fatwas issued by recognized Shariah authorities. Using the takyīf fiqhī method, the analysis examines the ethical and legal dimensions of scalping to determine whether it conforms to Shariah principles. The findings reveal that although scalping carries speculative elements, it may be considered conditionally permissible (mubāḥ) when conducted transparently, guided by informed analysis, and devoid of manipulative intent. The study concludes that scalping is not inherently prohibited in Islam but requires ethical discipline and regulatory oversight to prevent exploitation. The research contributes to refining Shariah-compliant trading practices, offering practical implications for Muslim investors, Shariah scholars, and regulators in strengthening ethical governance within Malaysia’s dynamic Islamic financial system.
Co-Authors A Shukor, Abdul Rahman Hazim Samah, Fadzil Mohd Saffai @ Mohd Shafie, Mastura Nazri, Hanafi