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The Bai Bithaman Ajil contract as a mode of Islamic financing facility: issues and dilemma / Wan Murshida Wan Hashim and Marhaini Hassan

The Bai Bithaman Ajil contract which constitutes the most favourite form of transaction commonly practiced by the Islamic Banking in Malaysia has been criticized by many quarters in the last few years. The implementation of the Bai Bithaman Ajil contract as a form of financial instrument is apparent...

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Main Authors: Wan Hashim, Wan Murshida, Hassan, Marhaini
Format: Article
Language:English
Published: 2011
Online Access:https://ir.uitm.edu.my/id/eprint/5904/2/5904.pdf
https://ir.uitm.edu.my/id/eprint/5904/
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spelling my.uitm.ir.59042023-11-17T03:28:56Z https://ir.uitm.edu.my/id/eprint/5904/ The Bai Bithaman Ajil contract as a mode of Islamic financing facility: issues and dilemma / Wan Murshida Wan Hashim and Marhaini Hassan Wan Hashim, Wan Murshida Hassan, Marhaini The Bai Bithaman Ajil contract which constitutes the most favourite form of transaction commonly practiced by the Islamic Banking in Malaysia has been criticized by many quarters in the last few years. The implementation of the Bai Bithaman Ajil contract as a form of financial instrument is apparently to be contrary to the Syariah principles, thus invalid and unenforceable. There have been various ruling of the court pertaining to the legal issues arise in the Bai-Bithaman Ajil contract but some of the issues still remain unresolved. This paper aims to discuss the legal issues of the Bai Bithaman Ajil contract which are deemed to be contrary to the Syariah. Furthermore, it also reviews the ruling of the court pertaining to the legal issues arising thereof. 2011 Article NonPeerReviewed text en https://ir.uitm.edu.my/id/eprint/5904/2/5904.pdf The Bai Bithaman Ajil contract as a mode of Islamic financing facility: issues and dilemma / Wan Murshida Wan Hashim and Marhaini Hassan. (2011)
institution Universiti Teknologi Mara
building Tun Abdul Razak Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Teknologi Mara
content_source UiTM Institutional Repository
url_provider http://ir.uitm.edu.my/
language English
description The Bai Bithaman Ajil contract which constitutes the most favourite form of transaction commonly practiced by the Islamic Banking in Malaysia has been criticized by many quarters in the last few years. The implementation of the Bai Bithaman Ajil contract as a form of financial instrument is apparently to be contrary to the Syariah principles, thus invalid and unenforceable. There have been various ruling of the court pertaining to the legal issues arise in the Bai-Bithaman Ajil contract but some of the issues still remain unresolved. This paper aims to discuss the legal issues of the Bai Bithaman Ajil contract which are deemed to be contrary to the Syariah. Furthermore, it also reviews the ruling of the court pertaining to the legal issues arising thereof.
format Article
author Wan Hashim, Wan Murshida
Hassan, Marhaini
spellingShingle Wan Hashim, Wan Murshida
Hassan, Marhaini
The Bai Bithaman Ajil contract as a mode of Islamic financing facility: issues and dilemma / Wan Murshida Wan Hashim and Marhaini Hassan
author_facet Wan Hashim, Wan Murshida
Hassan, Marhaini
author_sort Wan Hashim, Wan Murshida
title The Bai Bithaman Ajil contract as a mode of Islamic financing facility: issues and dilemma / Wan Murshida Wan Hashim and Marhaini Hassan
title_short The Bai Bithaman Ajil contract as a mode of Islamic financing facility: issues and dilemma / Wan Murshida Wan Hashim and Marhaini Hassan
title_full The Bai Bithaman Ajil contract as a mode of Islamic financing facility: issues and dilemma / Wan Murshida Wan Hashim and Marhaini Hassan
title_fullStr The Bai Bithaman Ajil contract as a mode of Islamic financing facility: issues and dilemma / Wan Murshida Wan Hashim and Marhaini Hassan
title_full_unstemmed The Bai Bithaman Ajil contract as a mode of Islamic financing facility: issues and dilemma / Wan Murshida Wan Hashim and Marhaini Hassan
title_sort bai bithaman ajil contract as a mode of islamic financing facility: issues and dilemma / wan murshida wan hashim and marhaini hassan
publishDate 2011
url https://ir.uitm.edu.my/id/eprint/5904/2/5904.pdf
https://ir.uitm.edu.my/id/eprint/5904/
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score 13.211869

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