Hazara Islamicus (Jun 2018)
Transactions Via Modern Communication Tools: An Evaluation in the Light of Islamic Shar’ah = عصر حاضر میں جدید ذرائع مواصلات کے ذریعے خرید وفروخت کا شرعی جائزہ
Abstract
The emergence of electronic commerce has brought massive development and a significant increase in every aspect of business life worldwide. Important social matters including financial transactions are now carried out and settled through use of modern communication tools which include landline and wireless phones, fax, telegram, telex, and internet. The latter has brought revolution in connecting people via live web chats, video chats and conferencing. E-mail marketing is also growing very rapidly as a new platform of business. Initially, commercial activities conducted electronically were not, specifically, regulated because it was commonly perceived that regulations might disturb and hinder the growth of e-commerce. However, as a result of the notable expansion of electronic market activities globally, many legal disputes and concerns have surfaced. This indicates the need for regulations to govern the new activities. As a response to such need, various countries and international organizations have introduced rules and guidelines, based on their national laws. However, little has been done to regulate the phenomena according to the decrees of the Islamic legal system. The lack of specific Islamic rulings for the online market has discouraged many Muslim traders and customers from participating in electronic commerce. The present article therefore, aims to discuss validity of businesses transections reached at via these tools.
