تقويم دور بورصة سوق السلع الماليزية في إصلاح التورق المصرفي المنظم

Evaluation of the role of Bursa Suq Al Sila' Malaysia for the reform of organized banking tawarruq

Abstract

The study aims at clarifying and evaluating the role of the Bursa Suq Al-Sila' in reforming financial operations based on organized banking tawarruq. This will be through a brief description of individual tawarruq, the organized banking tawarruq and the opinion of the scholars in this regard, along with a brief explanation of Bursa Suq Al-Sila' and the process of tawarruq applied therein. This will be followed by mentioning the most important Sharia problems due to which the jurisprudential councils, some Shari'a bodies and majority of contemporary scholars have disallowed the organized banking tawarruq, which takes place in international commodities by international and other exchange markets. These problems include: a Fake goods used in the process of tawarruq and their unavailability, b. repeating tawarruq operations on a single commodity without changing its place, c. dominance of shame dealings on the transactions, d. impossibility of taking possession of the goods, e. prohibited collusion within the deals and other Sharia problems. This will be followed by the researcher’s explanation and evaluation of the role played by the Bursa Suq Al-Sila' in order to avoid those sharia problems mentioned in the process of banking tawarruq. The study concluded that the process of banking Tawarruq throughout the Bursa Suq Al-Sila' Malaysia is better and more preferable than many popular
tawarruq operations in the world, for the scholars who see the permissibility of banking Tawarruq, and it is a reform of some important aspects such as confirming the existence of the commodity, not using the same commodity again in the transactions and that the dealings should be real and not shame. Nevertheless and despite this, it is not the desired goal that scholars and researchers try to achieve in the Tawarruq, because some of the Sharia problems still exist in the matters related to the shame transactions and taking possession of the commodity.