Extensive use of Hilah in Islamic banking and finance

Muhammad Masum Billah*

*Corresponding author for this work

Research output: Contribution to journalArticlepeer-review

1 Citation (Scopus)

Abstract

The current products of Islamic banks closely resemble direct loans and mortgages offered by conventional banks. Such resemblance makes one wonder whether Islamic banks are simply disguising interest-bearing loans. Such disguises are known as hi¯lah (legal stratagem) in Islamic law. This paper examines the use of hi¯lah by Islamic banks in their products and discusses the validity of hi¯lah under various schools of Islamic law.

Original languageEnglish
Pages (from-to)65-87
Number of pages23
JournalIslamic Quarterly
Volume59
Issue number1
Publication statusPublished - Jan 1 2015

ASJC Scopus subject areas

  • History
  • Religious studies
  • Cultural Studies

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