The concept and application of (ownership risk)

HIGHLIGHTS

• who: IJIF et al. from the Kuala Lumpur, Malaysia have published the Article: The concept and application of (ownership risk), in the Journal: (JOURNAL)
• what: The aim of this paper is to elucidate the concept of dam an al-milkiyyah (ownership risk) and to assess its application in contemporary Islamic financial products and services. The main reasons for its emergence are the widespread involvement of riba in the conventional system and the perception that the conventional system is not set up towards achieving maqasid al-Sharu012bu02bfah (the objectives of Islamic law) (Siddiqi, 2006).
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