TITLE:
Consumer Protection in Islamic Contracts: The Case of the Murabahah Contract in Morocco
AUTHORS:
Fares Laita Ibtihal
KEYWORDS:
Murabahah, Muslim Business Law, Credit Transaction, Consumer Protection
JOURNAL NAME:
Beijing Law Review,
Vol.14 No.3,
September
11,
2023
ABSTRACT: Financing requirements take different forms. They can be met by making funds available or by signature in the form of a current account advance or a loan repayable by instalments. In terms of financing by making funds available, participative banks offer Murabahah credit as an alternative to traditional fixed-term credit as defined by article 3 of law 103-12. For individuals, this contract is used to finance the purchase of consumer goods and property. Consequently, it must comply with the legal provisions of Law 31-08 enacting consumer protection measures. This paper presents the Murabahah contract, the legal status of this contract under Moroccan law and analyses the conformity of this contract with the provisions of Law 31-08.