The Impact of Custom on Defining the Essence of Possession and its Applications in Banking Institution Transactions

Authors

Mohammed Tarira, Applied Science Private University - JordanFollow

DOI

https://doi.org/10.35192/jjoas-h.v29i1.10

Abstract

This research is divided into three main sections. The first section addresses the concept of custom, its authority, and the conditions necessary for its recognition. The second section explores the concept of possession, its methods, and its effects on contracts. The third section examines the impact of custom on defining the essence of possession and its applications in the transactions of Islamic banking institutions. The study aims to investigate how the concept of possession is constructed based on prevailing customs and to apply this understanding to various practices conducted by Islamic banking institutions. This includes verifying the presence of relevant customs and confirming the occurrence of possession and its legal implications in accordance with those customs. The research concludes that there are transactions in which possession is valid and established through recognized customs, with their legal effects accordingly fulfilled. However, some transactions require further juristic and academic scrutiny aligned with established legal principles and should be reviewed by the Sharia supervisory boards overseeing these institutions. The study includes a conclusion and indexes to facilitate access to its contents, seeking Allah’s acceptance and guidance.

Recommended Citation

Tarira, Mohammed (2021) "The Impact of Custom on Defining the Essence of Possession and its Applications in Banking Institution Transactions," Jordan Journal of Applied Science-Humanities Series: Vol. 29: Iss. 1, Article 10.
DOI: https://doi.org/10.35192/jjoas-h.v29i1.10
Available at: https://digitalcommons.aaru.edu.jo/jjoas-h/vol29/iss1/10