Issues of Letter of Credit in Malaysian Islamic Banks

被引：2

作者：

Alwi, Sharifah Faigah Syed ^{[1
]}

Osman, Ismah ^{[2
]}

Badri, Mohd Bahroddin ^{[3
]}

Muhamat, Amirul Afif ^{[2
]}

Muda, Ruhaini ^{[2
]}

Ibrahim, Uzaimah ^{[4
]}

机构：

[1] Univ Teknol MARA, Arshad Ayub Grad Business Sch, Shah Alam 40450, Malaysia

[2] Univ Teknol MARA, Fac Business & Management, Shah Alam 40450, Malaysia

[3] ISRA Consulting Sdn Bhd, Lorong Univ A,Seksyen 16, Kuala Lumpur 59100, Malaysia

[4] Int Islamic Univ Malaysia, Ahmad Ibrahim Kulliyyah Law, Kuala Lumpur 53100, Malaysia

来源：

JOURNAL OF RISK AND FINANCIAL MANAGEMENT | 2022年 / 15卷 / 09期

关键词：

issues; letter of credit; Islamic banks; Islamic finance; Malaysia;

D O I：

10.3390/jrfm15090373

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

This paper discussed the prevailing issues currently faced by Islamic banks on the offering of Letter of Credit (LC), originally brought forward by the International Chamber of Commerce, using Shariah contracts and puts forth recommendations on practical solutions to solve the issues. The study adopted a qualitative method where the information on the issues of Islamic LCs was gathered throughout interviews with different bankers closely involved in LC issuance from 12 Islamic banks in Malaysia. The results indicate that there are three vital issues related to LCs offered by Islamic banks which lead to Shariah non-compliance issues. The issues revolve around the conversion of LC Wakalah (agency) to LC Murabahah (cost-plus), the existence of a sale contract between the customer and exporter and lastly the title of goods stated in the bill of lading. The findings recommend several solutions in relation to LCs within the underlying Shariah contracts to ensure that their operation complies with the Shariah requirements and Malaysian laws, standards and regulations. This paper highlights the issues of Islamic LC yet to be discussed thoroughly based on the views of a panel of experts and Islamic bankers.

引用

页数：15

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