Opublikowane: 15-12-2020

Rahn Agreement

The requirements of the Framework in Islam follow the conditions of the asset in a sales contract: it must be recognized as valuable by the Shara and be present, identifiable, deliverable and held by the pawnbroker. The reason for these requirements is that the function of a deposit obligation is to settle the obligation in the event of a debtor`s default. This is only possible if pawning is legally recognized in the purpose of the sales contract (Ibn Qud`mah, 1388H, p. 4/253). Anything admitted as the object of a sale is also accepted as collateral. On this basis, lawyers have developed the famous legal maxim that „what can be sold is also mortgaged” (al-Zarkash, 1405H, p. 3/139). Conversely, a non-compliant Shara asset is not qualified as a rahn object. The „Rahn Exposure Draft” published by Negara Malaysia Bank (BNM) specifies that the purpose of the Rahn (Marhén) contract will be recognized by Sharaa (BNM, 2017, p. 5). The Organization for the Accounting and Audit of Islamic Financial Institutions (AAOIFI) also requires commitments consistent with Shara`s compliance with its Shara Standard No. 39.

It says: „Mortgage value should be property authorized by Shara. It must also be well specified (by presentation, designation or description) and be able to provide” (AAOIFI, 2015, p. 970). The study concludes that non-compliant assets are classified into two main types with respect to their use as a framework: first, the asset is prohibited in its nature (li dh`tih) and, second, the asset is prohibited for an external reason, namely the means of its acquisition (li kasbih). The first relates to an asset that shaaa has banned under an essential attribute (wa-f). In other words, it is an asset that is prohibited in its nature because it is harmful or unclean. This category includes pork, wine and other unclean items. Legal experts agree that these points cannot be used as a guarantee. Shara`s second class of non-compliant assets is divided into four categories: with respect to Shara`s non-compliant asset acquired by a non-gable contract (f`sid), the study showed that the asset can be used as a rahn after the anaf school, provided that the contract has been terminated or that the buyer has taken possession of the asset with the consent of the seller.

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