THE FORMALITY OF REAL ESTATE TRANSACTIONS AND THEIR IMPACT ON ISLAMIC BANKING CONTRACTS IN THE SULTANATE OF OMAN
Abstract
This study examines the legal formalities required for real estate transactions and their impact on Islamic banking contracts in the Sultanate of Oman. It analyzes the interaction between the legal requirements imposed by Omani law—such as registration, documentation, or written form—and the nature of Sharia-compliant contracts adopted by Islamic banks. The research aims to explore the extent to which these formalities affect the validity of real estate contracts and whether they align with Islamic legal principles. The study adopts a descriptive, analytical methodology, reviewing relevant legal texts and practical applications in Islamic banking within Oman. The findings reveal that legal formalities play a crucial role in ensuring the stability of real estate transactions; however, they may impose procedural constraints on Islamic contracts if not addressed through a shared legal and Sharia-based understanding. The study recommends enhancing coordination between Sharia boards and legal or notarial authorities to prevent contract nullity or disputes and to promote legislative alignment with the specificities of Islamic banking operations
References
- Al-Busaidi, A., & Al-Zaabi, M. (2019). Evaluating the risks of real estate transactions in Islamic banks: The experience of Oman. Oman Journal of Financial Studies, 8(2), 112-130.
- Al-Hinai, R. (2021). The impact of government policies on Islamic real estate financing in Oman. International Journal of Islamic Banking, 5(1), 78-95.
- Basharat, H. J. (2008/1428H). Al-tamwil al-masrifi al-islami lil-mashari‘ al-saghira wal-mutawassita. Beirut: Dar Al-Nafa’is.
- El-Shanqeeti, ‘A. S. (2015). Al-‘uqud al-murakkabah fi al-masrafiyyah al-islamiyyah. Jeddah: Dar Al-Maiman.
- Ershid, M. ‘A. A. (2007/1427H). Al-shamil fi mu‘amalat wa ‘amaliyyat al-masraf al-islami.
- Beirut: Dar Al-Nafa’is. (2nd ed.)
- Hafi, K. B. ‘A. B. (2001/1421H). Al-ijarah al-muntahiyah bi-tamlik fi daw’ al-fiqh al-islami. Riyadh: No publisher.
- Kawamleh, N. ‘A. (2008/1428H). Al-musyarakah al-mutanakisah. Beirut: Dar Al-Nafa’is.
- Khogah, ‘A. M. (1998/1419H). Al-dalil al-shar‘i lil-ijarah (Reviewed by ‘Abd Al-Sattar Abu Ghuddah). Saudi Arabia: Dallah Al-Baraka Group, Al-Baraka Investment and Development Co.
- Majdoubah, H. “M. R.” S. (2023). Athar al-shakliyyah ‘ala al-tasarrufat al-qanuniyyah [Unpublished Master’s thesis, An-Najah National University, Faculty of Graduate Studies, Nablus, Palestine].
- Masri, R. Y. (1996/1416H). Bay‘ al-murabahah lil-amir bil-shira’ fi al-masraf al-islami. Beirut: Mu’assasat Al-Risalah.
- Majma‘ Al-Fiqh Al-Islami Al-Duwali. (2020/1442H). Kitab qararat wa tawsiyyat Majma‘ Al-Fiqh Al-Islami Al-Duwali. Jeddah: Al-Majma‘. (4th ed.)
- ‘Ajarmah, M. M. (2008). Al-shakliyyah ka-qayd yarid ‘ala al-iradah ‘ind takwin al-‘aqd wifqan li-ahkam al-qanun al-madani al-urduni. Majallat Jami‘at Al-Quds Al-Maftuhah lil-buhuth al-insaniyyah, (45), June 2018.
- Qurrah, M. ‘A. (2013). Al-‘uqud al-maliyyah fi al-masrafiyyah al-islamiyyah: Ru’yah fiqhiyyah mu‘asirah. Riyadh: Islamic Research and Training Institute.
- Salamah, ‘I. ‘A. (n.d.). Al-shakliyyah dhamanah lil-huquq al-‘ayniyyah al-‘aqariyyah. ‘Ain Shams University Journal, (60), Part 2.
- Sanhuri, ‘A. A. (1998). Nazariyyat al-‘aqd. Beirut: Manshurat Al-Halabi Al-Huquqiyyah. (2nd ed.)
- ‘Abd Al-Samad, H. M. ‘A. (2001). Al-shakliyyah fi ibram al-tasarrufat. Alexandria: Dar Al-Fikr Al-Jami‘i.
THE FORMALITY OF REAL ESTATE TRANSACTIONS AND THEIR IMPACT ON ISLAMIC BANKING CONTRACTS IN THE SULTANATE OF OMAN
Abstract
This study examines the legal formalities required for real estate transactions and their impact on Islamic banking contracts in the Sultanate of Oman. It analyzes the interaction between the legal requirements imposed by Omani law—such as registration, documentation, or written form—and the nature of Sharia-compliant contracts adopted by Islamic banks. The research aims to explore the extent to which these formalities affect the validity of real estate contracts and whether they align with Islamic legal principles. The study adopts a descriptive, analytical methodology, reviewing relevant legal texts and practical applications in Islamic banking within Oman. The findings reveal that legal formalities play a crucial role in ensuring the stability of real estate transactions; however, they may impose procedural constraints on Islamic contracts if not addressed through a shared legal and Sharia-based understanding. The study recommends enhancing coordination between Sharia boards and legal or notarial authorities to prevent contract nullity or disputes and to promote legislative alignment with the specificities of Islamic banking operations
References
- Al-Busaidi, A., & Al-Zaabi, M. (2019). Evaluating the risks of real estate transactions in Islamic banks: The experience of Oman. Oman Journal of Financial Studies, 8(2), 112-130.
- Al-Hinai, R. (2021). The impact of government policies on Islamic real estate financing in Oman. International Journal of Islamic Banking, 5(1), 78-95.
- Basharat, H. J. (2008/1428H). Al-tamwil al-masrifi al-islami lil-mashari‘ al-saghira wal-mutawassita. Beirut: Dar Al-Nafa’is.
- El-Shanqeeti, ‘A. S. (2015). Al-‘uqud al-murakkabah fi al-masrafiyyah al-islamiyyah. Jeddah: Dar Al-Maiman.
- Ershid, M. ‘A. A. (2007/1427H). Al-shamil fi mu‘amalat wa ‘amaliyyat al-masraf al-islami.
- Beirut: Dar Al-Nafa’is. (2nd ed.)
- Hafi, K. B. ‘A. B. (2001/1421H). Al-ijarah al-muntahiyah bi-tamlik fi daw’ al-fiqh al-islami. Riyadh: No publisher.
- Kawamleh, N. ‘A. (2008/1428H). Al-musyarakah al-mutanakisah. Beirut: Dar Al-Nafa’is.
- Khogah, ‘A. M. (1998/1419H). Al-dalil al-shar‘i lil-ijarah (Reviewed by ‘Abd Al-Sattar Abu Ghuddah). Saudi Arabia: Dallah Al-Baraka Group, Al-Baraka Investment and Development Co.
- Majdoubah, H. “M. R.” S. (2023). Athar al-shakliyyah ‘ala al-tasarrufat al-qanuniyyah [Unpublished Master’s thesis, An-Najah National University, Faculty of Graduate Studies, Nablus, Palestine].
- Masri, R. Y. (1996/1416H). Bay‘ al-murabahah lil-amir bil-shira’ fi al-masraf al-islami. Beirut: Mu’assasat Al-Risalah.
- Majma‘ Al-Fiqh Al-Islami Al-Duwali. (2020/1442H). Kitab qararat wa tawsiyyat Majma‘ Al-Fiqh Al-Islami Al-Duwali. Jeddah: Al-Majma‘. (4th ed.)
- ‘Ajarmah, M. M. (2008). Al-shakliyyah ka-qayd yarid ‘ala al-iradah ‘ind takwin al-‘aqd wifqan li-ahkam al-qanun al-madani al-urduni. Majallat Jami‘at Al-Quds Al-Maftuhah lil-buhuth al-insaniyyah, (45), June 2018.
- Qurrah, M. ‘A. (2013). Al-‘uqud al-maliyyah fi al-masrafiyyah al-islamiyyah: Ru’yah fiqhiyyah mu‘asirah. Riyadh: Islamic Research and Training Institute.
- Salamah, ‘I. ‘A. (n.d.). Al-shakliyyah dhamanah lil-huquq al-‘ayniyyah al-‘aqariyyah. ‘Ain Shams University Journal, (60), Part 2.
- Sanhuri, ‘A. A. (1998). Nazariyyat al-‘aqd. Beirut: Manshurat Al-Halabi Al-Huquqiyyah. (2nd ed.)
- ‘Abd Al-Samad, H. M. ‘A. (2001). Al-shakliyyah fi ibram al-tasarrufat. Alexandria: Dar Al-Fikr Al-Jami‘i.
Details
| Primary Language | Arabic |
|---|---|
| Subjects | Economic Methodology, Islamic Economy |
| Journal Section | Articles |
| Authors | |
| Early Pub Date | August 7, 2025 |
| Publication Date | |
| Submission Date | June 13, 2025 |
| Acceptance Date | July 25, 2025 |
| Published in Issue | Year 2025Volume: 11 Issue: 32 |
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