Shubuhat Activities in Islamic Banking

Abstract

According to the principles of Shariah, all business activities must be in accordance to principles and rules of Shariah and any activity against them will be Haram in Islam. Therefore business activities are very essential in Shariah compliance criteria; Islamic Shariah establishes rules which govern and define the economic, social, political and cultural life of Islamic societies, including their financial institutions. Islam, in principle prohibits all activities that cause harm to the dealers and consumers in the market as well as society as a whole. It is very necessary that all dealings and business activities must abide by the rules of Islamic law, In addition to avoid all doubtful activities. The primary objective of this paper is to review the definition and concept of shubuhat. Specifically, this paper highlight to some Shubuhat activities in products of Islamic banking. A total of 9 activities were selected a sample of products of Islamic banking.