Shafii Jurists Approach to Bay al-inah and Its Reflection on the Islamic Financial Markets

Bayu l-î ne, although one of the controversial issues of Islamic law, is a method which is often referred to in today s modern financial markets. Especially in South East Asian countries where Shafiî mazhab was widely followed such as Malaysia, so many Bayu l-î ne based financial products have been developed. In this article, moving from Malaysian example, Bayu l-î ne based financial products were examined and these products are developed and evaluated in terms of their underlying Shariah principle.