International Journal of Islamic Economics (IJIE)
Vol 2 No 01 (2020): International Journal of Islamic Economics

RISKS AND REMEDY IN ISLAMIC AND CONVENTIONAL LETTER OF CREDIT: JORDANIAN PRACTICES

Emad Mohammad Al amaren (UUM-Malaysia)
Mohd Zakhiri bin Md. Nor (UUM College of Law, Government and International Studies, Universiti Utara Malaysia.)
Che Thalbi Bt Md. Ismail (UUM College of Law, Government and International Studies, Universiti Utara Malaysia.)



Article Info

Publish Date
11 Jul 2020

Abstract

International trade and the movement of goods between parties living in different countries have spread in the last century and have become one of the fundamental features of the current trade. This proliferation of international contracts, of course, has its own problems. The problems of external Islamic or conventional letters of credit affect export, since letters of credit are considered a valuable tool used in financing foreign trade operations. Therefore, the problems faced by exporters in letter of credit reflect on and impact trade in general. Thus, the fewer the credit problems are, the more active foreign trade especially export will be. But if problems are relatively large, exports will contract. This study attempts to identify the problems of external and internal letters of credit facing the Jordanian traders and Jordanian Islamic and conventional banks, and to analyze them in an organized scientific manner, then proposing the appropriate recommendations to address these problems.

Copyrights © 2020






Journal Info

Abbrev

IJIE

Publisher

Subject

Economics, Econometrics & Finance

Description

International Journal of Islamic Economics accepts manuscripts whose topics are in range of economic fields and employs standard economics analysis tools focusing on issues pertaining to Philosophy of Islamic Economics, Islamic Economic Thought, Islamic Economics and Contemporary Issues and Islamic ...