Publication:
Preference Shares from Shariah Perspective: Issue and Solutions

Simple item page
dc.contributor.authorMohamad, S.en_US
dc.contributor.authorAhmad, M. U.en_US
dc.contributor.authorBadri, M. B.en_US
dc.date.accessioned2024-05-29T08:20:42Z
dc.date.available2024-05-29T08:20:42Z
dc.date.issued2017
dc.description.abstractPreference shares have their own characteristics that make them different from ordinary shares. Moreover, they can be divided into various types based on unique features embedded in each type. This paper aims to scrutinise the different types of preference shares to identify related Shariah issues and subsequently propose solutions for the identified issues that would help in structuring Islamic preference shares. This paper employs a qualitative method by analysing relevant documents and literature to understand the subject-matter and Shariah-related issues. This paper finds that several features of conventional preference shares make the instrument as Shariah non-compliant. These are; (i) capital guarantee; (ii) loss sharing disproportionate to capital contribution; (iii) fixed profit; (iv) profit guarantee; and (v) waiving of right prior to realisation of profit. It is noted that there are a few articles discussed on preference shares. Nevertheless, this paper is significantly different from the others in term of in-depth analysis for each type of preference shares and the proposed Shariah-compliant solutions.
dc.identifier.epage110
dc.identifier.issn1823-075X
dc.identifier.issue2
dc.identifier.spage93
dc.identifier.urihttp://jmifr.usim.edu.my/index.php/jmifr/article/view/21
dc.identifier.urihttps://oarep.usim.edu.my/handle/123456789/14554
dc.identifier.volume14
dc.languageEnglish
dc.language.isoen_US
dc.publisherUniversiti Sains Islam Malaysiaen_US
dc.relation.ispartofThe Journal of Muamalat and Islamic Finance Research
dc.sourceOpen Journal Systems
dc.subjectPreference sharesen_US
dc.subjectMush?rakahen_US
dc.subjectShariah issuesen_US
dc.titlePreference Shares from Shariah Perspective: Issue and Solutions
dc.typeArticleen_US
dspace.entity.typePublication

Files

Original bundle
Now showing 1 - 1 of 1
Thumbnail Image
Name:
Preference Shares From Shariah Perspective Issues And Solutions.pdf
Size:
327.97 KB
Format:
Adobe Portable Document Format
Download

Collections

Journal of Muamalat and Islamic Finance Research (JMIFR)