Sale of Utility Bills for Cash by Islamic Principles
Keywords:
Electricity Bill Sales, Islamic Finance, Sale of discounted debt, Riba Al-FadlAbstract
Objectives: 1) To study the transaction of selling utility bills for cash according to Islamic principles. 2) To study debt trading according to Islamic law.
Methodology: Document Analysis was employed to analyze relevant documents. The study also examined transaction models in detail through Case Study methodology and investigated real cases in the present day for their transaction types, processes and involved parties. The findings were then compared with Islamic principles through Content Analysis, which systematically organizes and interprets the collected data to determine whether these practices are prohibited or according to Islamic principles.
Research Findings: show that trading utility bills for cash is forbidden according to Islamic principles. It involves selling debt at a discount and is related to Riba al-Fadl.
Contributions: Make those who believe in Islam understand the decision of Islamic principles regarding this transaction avoid and not be involved in such transactions.
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