3.2 Legality of bay al-dayn
The legality of bay al-dayn is based on Surah Al-Baqarah, verse 282, which means “O you who have believed, when you contract a debt for a specified term, write it down. And let a scribe write [it] between you in justice”. According to al-Jassas, the word al-dayn include all types of debt contract and its permissible based on deferred. This verse stated that the important to write it down to all the debt transaction.
The word al-dayn in hadith can be divided by two interpretation. First is general understanding to encompass any liability that must be performed notwithstanding whether the dayn relates to property like debt of a debtor to a creditor, or not, like liability of a person to make up a missing prayers. It …show more content…
However, they put certain condition to allow this practice that is no authentic source that prohibits such kind of selling. Moreover, they argue that the debt is a right in the possession of the creditor and accordingly, he has the full right to sell it or to give it either to same debtor or to a third party. (Sano, 2001). Although the Maliki, Shafii and Ibn al-Qayyim of Hanbali who allowed the practice are in the same line of opinion, they did so with different provision. (al-Zuhayli, 1997).
Most Hanafis, Hanbalis and Syafi’s jurists prohibited the selling of al-dayn to the third party or non-debtor which it is alike the sale of gharar that the seller does not possess. However, Malikis, and some Hanafis and Syafie’s jurists permitted the selling of al-dayn to the third party since the creditor has a right to sell it to the third party with these certain conditions, as based to Saiful Azhar Rosly & Mahmood M. Sanusi:
i. The dayn must be mustaqir (confirmed debt) and the contract must be performed on the spot, not deffered in order to avoid any relationship with the sale of a debt for debt which is prohibited in
The legality of bay al-dayn is based on Surah Al-Baqarah, verse 282, which means “O you who have believed, when you contract a debt for a specified term, write it down. And let a scribe write [it] between you in justice”. According to al-Jassas, the word al-dayn include all types of debt contract and its permissible based on deferred. This verse stated that the important to write it down to all the debt transaction.
The word al-dayn in hadith can be divided by two interpretation. First is general understanding to encompass any liability that must be performed notwithstanding whether the dayn relates to property like debt of a debtor to a creditor, or not, like liability of a person to make up a missing prayers. It …show more content…
However, they put certain condition to allow this practice that is no authentic source that prohibits such kind of selling. Moreover, they argue that the debt is a right in the possession of the creditor and accordingly, he has the full right to sell it or to give it either to same debtor or to a third party. (Sano, 2001). Although the Maliki, Shafii and Ibn al-Qayyim of Hanbali who allowed the practice are in the same line of opinion, they did so with different provision. (al-Zuhayli, 1997).
Most Hanafis, Hanbalis and Syafi’s jurists prohibited the selling of al-dayn to the third party or non-debtor which it is alike the sale of gharar that the seller does not possess. However, Malikis, and some Hanafis and Syafie’s jurists permitted the selling of al-dayn to the third party since the creditor has a right to sell it to the third party with these certain conditions, as based to Saiful Azhar Rosly & Mahmood M. Sanusi:
i. The dayn must be mustaqir (confirmed debt) and the contract must be performed on the spot, not deffered in order to avoid any relationship with the sale of a debt for debt which is prohibited in