Transactions or Purchases in Islam

Principles of Transactions or Purchases in Islam.

The meaning of Sell and Buy

Selling in Arabic is called al-Bay ‘ , which etymologically means to own, buy (meaning otherwise),   some even say that it is an expression of the qobul exchange when there is exchange between goods and goods and exchange rates. [ Al-Mathla ‘  case. 255] Some also mean: “Exchange of property with property.” [ Maqoyisul lughoh 1/327, Lisanul ‘Ar b 8/23, al-Mishbah 1/27]

Etymologically, selling means al-mubadalah (exchange / barter). The terminology is to exchange property in the same way as one likes ( an-taradhin ). Or transfer ownership by substitution, on the principle of non-sharia. [Sayid Sabiq, Fikih Sunnah, (Excerpt: Dar al-Fikr, 1403 H / 1983 M Volume 3), p. 126]

According to Idris Ahmad in Fiqih Al-Syafi’iyah, a sale is to exchange goods for goods or goods with money by passing off one property to another on a voluntary basis .

In its subdivision, the sale is divided into two ‘trust’ and ‘trust’ bay shares . Bay ‘auction is a regular, regular sale where buyers do not know how much the seller will buy. While bay ‘trust is divided into four, it includes:

  1. Tauliyah , where the seller sells his goods for the first time he buys without taking advantage of the buyer
  2. Mustarsal , where the buyer doesn’t know how much the seller will buy
  3. Murabahah , where the seller tells the buyer the price of the goods and the profit to the buyer
  4. Wadh’iyah , where the seller sells his goods at the purchase price to the buyer
  5. Law of Sale and Purchase

Selling, originally allowed in Islam based on the Qur’an, As-Sunnah, and Ijma ‘scholars. The verse that allows the sale is among them the letter of Al-Baqarah verse 2 :

“Allah justifies the sale and prohibition of robbery …”.

In As-Sunnah it is explained that the main business is the work of one person and good sales. In another hadith explained:

“Al-Bay’ani bi al-khiyarr ma lam yatafarraqa (seller and buyer both have the right to negotiate the transaction as long as the two are not separated)”

Scholars have agreed that the business is allowed in its entirety, as long as it does not neglect and abandon the obligatory acts. When the culprit is discharged, the business is thus prohibited by religion (QS Al-Jum’ah: 9). Likewise, sale and purchase transactions in order to assist in the unification, or result in banned religious matters, are prohibited in Islamic law. The reason is because the means have the same position as the purpose, as stated in the letter of Al-Maidah verse 2 :

“… and help one another in good and evil, and do not abstain from sin and enmity.”

Sharia banned sale transactions include alcohol, narcotics, carcass, carcass fat, pigs, idols and all kinds of transactions that contain elements of fraud, embezzlement or negative impact on Muslims or for science. This will lead to a breakdown of the brotherhood as the Prophet was concerned. In one of the Apostles’ words it is explained:

From Jabir bin ‘Abd Allah; he heard the Messenger of Allah say : “Allah and His Messenger forbade the sale of narcotics, carcasses, fat carcasses, pigs, idols.” Then the Messenger of Allah asked him: O Messenger of Allah, what do you think about carcass fat? Because the fat can be used to paint the boat, oily skin; and people can use it for illumination. ” He replied: “I can’t. It’s illegal. ” Then he said again: “Cursed are the Jews. When God forbids carcass fat, they make it fat and sell it and eat it. “

In his other words, as the Muslim narrator explains: “The Prophet did not prohibit the sale of goods containing deception.”

  1. Pillars and Terms of Sale

Pillars include: interested persons (seller and buyer); shighat (pronunciation of ijab and qabul); goods purchased; substitute exchange rate.

While the terms of sale include: for the contractor (mutual benefit between seller and buyer; shariah-compliant person; fully entitled to the goods), for the goods (absolute benefit; control); )

  1. Khiyar in Buy and Sell

That is , I choose the best of the two things to make or break a bargain .

Khiyar is classified into eight types:

  1. K hiyar Council (assembly option), for the seller of the sale has the right to remain in the assembly;
  2. Khiyar Terms (conditional choice), each of which requires the existence of a khiyar at the time of the agreement or thereafter at a particular time;
  3. Khiyar Ghabn (fraud), the choice to defer a transaction or not to those who feel cheated out of the ordinary;
  4. Khiyar Tadlis (defective goods), the choice caused at the time of the deed of unexplained goods is less likely to be covered;
  5. Khiyar Aib (disgraceful), the choice due at the time of the contract of dishonor of goods is not conveyed;
  6. Khiyar Takbir bitaman (over-rate), conveying rumors that do not conform to the fact of goods, quantity, or quality;
  7. Khiyar bisababi takhaluf (because of differences), choice due to disagreement in the fact of goods, price, or quality;
  8. Khiyar Ru’yah (view), the choice due to the change in the nature of the goods compared to the previous vision .

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