E-COMMERCE IN THE CONTEXT OF ISLAMIC LAW OF CONTRACT OF SALE

Abstract

The world of  commerce has been evolved a few decades ago with the introduction of internet. From that moment, the way we trade, communicate, and do business has changed thoroughly, as the impact of the internet on the business landscape could not be avoided. With the development of Internet, it does not only become a way of communicating or information gathering but also change the way of people doing businesses. From a traditional way of people meeting transactions, today business can be conducted online electronically. This era is called the electronic–commerce (e-commerce) era. There are growing concerns  among the e-commerce customers especially among Muslims all over the world regarding the validity of this electronic business transaction from the Shariah perspectives particularly in the light of the Islamic law of contract of sale and purchase. This paper will highlight the Shariah guidelines and standard in governing the contract of sale and purchase which occurs within the purview of e-commerce transaction.