The Application of Shariah Principle in E-commerce Transaction: A Model Development

Mohd Zulkifli Muhammad, Tamrin Amboala, Muhammad Zulfaris Mohd Salleh, Azwan Abdullah, Siti Nurzahira Che Tahrim, Noorshella Che Nawi


Issues concerning purchasing on-line, the medium of transaction via on-line or Internet, e-payment mode are among new challenges that require Islamic scholars and researchers to broaden the scope of definition of Shariah compliance e-commerce transaction. As Malaysia is heading towards e-commerce and purchasing on-line has no longer a new trend; the challenges arise for solution in accordance with Shariah principles. This paper will propose a model that comprises several components namely, the core Shariah component itself, sound technological means and regulatory body that supports e-commerce transactions.

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Research in World Economy
ISSN 1923-3981(Print)ISSN 1923-399X(Online)


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