Consumer Protection and the Islamic Law of Contract

Abstract:     
This article explores the protection provided to the consumers in the Islamic Law of Contracts and Business Transactions. In the main part of this article, the general principles of Islamic Law of Contract are presented with special reference to the protection of consumers. The paper adds that Islamic Law of contracts and commercial transactions has some features that are not found in any other legal system such as the concept of Halal and Haram. Islamic Law of Contract has also provided a number of options in the contracts and the purpose is to give chance to a consumer who suffered some loss in transaction to revoke contract within stipulated time. They have been designed to maintain balance in transactions and to protect a weaker party from being harmed. Some of these options are discussed in the papers which have great impact on the protection of consumers in commercial transactions. The paper points out the need for Comprehensive Code of Consumer Protection for Muslim countries and Muslim minorities in the non-Muslim countries that is based purely on the principles of Islamic Law of Contract.

Keywords: Consumer, Protection, Shariah, Contract, Consumer Law

Accepted Paper Series