TY - JOUR AU - Mohd Sharoni, Syairazi Muhammad Husni AU - Hassan, Rusni PY - 2018/12/30 Y2 - 2024/03/29 TI - Floating Charge Debenture as Security from Shari'ah Perspective: السندات المالية المتغيرة كضمان من الناحية الشرعية JF - International Journal of Fiqh and Usul al-Fiqh Studies JA - IJFUS VL - 2 IS - 2 SE - Articles DO - 10.31436/ijfus.v2i2.98 UR - https://journals.iium.edu.my/al-fiqh/index.php/al-fiqh/article/view/98 SP - 103-111 AB - <p><em>Floating charge debenture is one type of security adopted by the Islamic Banks in Malaysia for non-individual customers. For Islamic banks, it is crucial to ensure that all of their banking products and services are Shar</em><em>i'</em><em>ah compliant. However, there is no specific ruling from Bank Negara Malaysia on Shar</em><em>i'</em><em>ah compliance status of floating charge debenture. Therefore, the purpose of this paper is to determine the soundness of floating charge debenture as security by Islamic banks in Malaysia from the Shar</em><em>i'</em><em>ah perspective. This paper adopted a qualitative method that referred to primary and secondary Shar</em><em>i'</em><em>ah sources, as well as other related sources such as guidelines of Bank Negara Malaysia and Accounting and Auditing Organization for Islamic Financial Institution. The paper found that it is permissible for an Islamic bank to accept floating charge debenture from non-individual customers as security with certain conditions. This paper </em><em>suggests that the Bank Negara Malaysia </em><em>should issue certain resolution related to this issue to arrange related applications in Islamic banks in Malaysia. </em></p><p><strong><em>Keywords: Debenture, Floating Charge, Security, Shari'ah Compliance, Islamic Bank</em></strong></p> ER -