Concept and Application of Shariah for the Construction Industry

The following sections are included:

• Contents
• Acknowledgments
• About the Editors
• Contributors’ Biographies
• Preface
• List of Tables
• List of Figures
• List of Text Boxes
• List of Appendices
• List of Abbreviations
• List of Surahs (Chapters) in the Quran

The term “Shariah” has been defined in various styles by different authors and researchers. The purpose of this chapter is to provide a reasonably clear and common understanding of the meaning of “Shariah”…

The following sections are included:

• The Meaning of Shariah
• Components of Shariah
• The Objectives of Shariah
• Sources of Islamic Law
• Shariah Fundamentals and the Construction Industry
• Shariah Contracts Related to Construction
• Fundamentals of Contract
• Conditions of Contract
• Selected Types of Contracts
• Conclusion
• References

The following sections are included:

• Introduction
• Lessons from the Shariah
• Manner of Deriving Law Under Islamic Legal System
• Guidelines in Formulating Law on Construction and Maintenance of Built Environment
• Good Governance and Hisbah
• Regulatory Institutions and Protection of Social Security
• Stakeholders Participation in Promoting Good Construction Practices
• Promote Itqan (Perfection) and Ihsan (Compassion)
• Education and Raising Awareness
• Conclusion
• List of Cases
• References

The following sections are included:

• Introduction
• What Is Marketing?
• What Is Construction Marketing?
• What Is Marketing Mix and Its Application to Construction, i.e. The 5 Ps of Product, Price, Promotion, Place and People?
• The Shariah Perspective of Construction Marketing
• Why Shariah-Compliant Construction Marketing?
• Conclusion
• References

The following sections are included:

• Introduction
• Muamalat and Its Application in Business Transactions
• Current Contract Practice for Construction Works
• Shariah-Compliant Construction Contracts: The Istisna’
• Review on Key Provisions of Current Contract Forms to Ascertain Their Compliance or Otherwise with the Shariah
• Conclusion
• References

The following sections are included:

• Introduction
• Conventional Construction Works Contracts
• Istisna’ Contract Model 1
• Istisna’ Contract Model 2 — The Parallel Istisna’
• Critical Analysis of Istisna’ and Conventional Construction Works Contracts
• Proposed Istisna’ Model for Construction Works Contracts
• Conclusion
• Legislation
• References

The following sections are included:

• Introduction
• Istisna’ and Its Applicability in Construction Works Contracts
• Conclusion
• References

The following sections are included:

• Introduction
• The Historical Perspectives
• Limited Liability in Contracts
• Limited Liability from Shariah Perspective
• Limited Liability in Construction Contracts
• Conclusion
• List of Cases
• References

The following sections are included:

• Construction Disputes
• Alternative Dispute Resolution (ADR)
• The Islamic Perspectives of ADR
• Legal Texts on the Permissibility of Sulh and Tahkim
• Statutory Provisions Dealing with Sulh and Tahkim in Malaysia
• Conclusion
• List of Cases and Legislation
• References

The following sections are included:

• Introduction
• Desirable Direction of Development of Islamic Finance
• Considering 3Rs: Riba, Recourse, Risk-Sharing
• Hypothetical Proposals and Conclusion
• Hypothetical Proposal 1:
• Hypothetical Proposal 2:
• References

The following sections are included:

• Introduction
• The Monetary System — The Cause for Drastic Increase in Home Prices
• BBA Home Financing and Its Operational Issues
• The Musharakah Mutanaqisah (MM) Contract
• Integrating MM with FinTech: Crowd funding a Way Forward
• Conclusion
• Appendix
• References

The following sections are included:

• Introduction
• The Problem of Accessibility to Decent and Affordable Housing Among Muslim Families
• The Key Issues Concerning Affordable Housing, Wakaf and Zakat
• Wakaf-Zakat-Private Developer Joint Venture Model in the Provision of Affordable Housing for Needy Muslim Families
• Joint Venture from the Islamic Perspective
• Proposed Joint Venture Model Between Wakaf, Zakat and Private Developer
• Issues Arising from the Joint Venture, the Concession Agreement and Their Solutions
• Conclusion
• Acknowledgment
• References

The following sections are included:

• Introduction
• The Basic Idea about Gharar
• Assessing Gharar with Regret Theory
• Model for Shariah Compliance Assessment
• Profit-Loss Sharing System
• Ex-Ante Efficiency Condition
• Assessment of Shariah Compliance of Typical Contract
• Conclusion
• Appendix
• References

The following sections are included:

• Introduction
• Concept and Principles of Takaful
• Origin of Takaful
• Takaful Models
• Application of Takaful for Construction Works
• Conclusion
• List of Legislation
• References

The following sections are included:

• Introduction
• Definition of Hibah Mu‘allaqah and the Juristic Opinions
• Characteristics of Hibah Mu‘allaqah
• Suggested Guidelines for Hibah Mu‘allaqah
• Application of Hibah Mu‘allaqah in Takaful Industry
• Contemporary Islamic Rulings (Fatwa) That Allow Takaful Benefits to be Given to the Sole Beneficiary
• Shariah Issues in Giving the Takaful Benefit (Hibah) to a Sole Beneficiary
• Recommendations and Suggestions
• Charging and Assignment of Takaful Certificate
• Conclusion
• Legislation
• References

The following sections are included:

• Introduction
• Advantages of Equity Financing
• Nakheel Construction Company
• Conclusions and Recommendations
• References

The following section is included:

• Index