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Rent to own as value-based financial intermediation: Legal and shariah analysis

Generally, Rent to Own (RTO) is a financial scheme offered by financial institutions to help those who cannot afford the 10% initial deposit and access to financial schemes. One value-based intermediation (VBI) initiative is the RTO Islamic financing product. The market se...

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Main Authors: Md Nor, Mohd Zakhiri, Mohamad, Ani Munirah, Mohd Arshad, Ain Husna, Abdul Jalil, Najah Inani
Format: Article
Language:English
Published: Institute for Management and Business Research (IMBRe), Universiti Utara Malaysia 2021
Subjects:
HF5601 Accounting
Online Access:https://repo.uum.edu.my/id/eprint/28262/1/JBMA%2011%201%202021%2045%2058.pdf
https://doi.org/10.32890/jbma2021.11.1.3
https://repo.uum.edu.my/id/eprint/28262/
http://e-journal.uum.edu.my/index.php/jbma/article/view/13681
https://doi.org/10.32890/jbma2021.11.1.3
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spelling my.uum.repo.282622023-06-19T15:27:34Z https://repo.uum.edu.my/id/eprint/28262/ Rent to own as value-based financial intermediation: Legal and shariah analysis Md Nor, Mohd Zakhiri Mohamad, Ani Munirah Mohd Arshad, Ain Husna Abdul Jalil, Najah Inani HF5601 Accounting Generally, Rent to Own (RTO) is a financial scheme offered by financial institutions to help those who cannot afford the 10% initial deposit and access to financial schemes. One value-based intermediation (VBI) initiative is the RTO Islamic financing product. The market segment of this product is for the new generation whereby they can own a house without paying any deposit on account of the fact that housing estates are increasingly expensive. This paper starts with the background concept of VBI, then it discusses on the modus operandi of RTO offered by financial institutions. This paper also discusses legal and Shariah aspects related to RTO. Adopting a qualitative method, the data were collected through semi-structured interviews with relevant parties involved with the RTO product. In addition, some preliminary information had been accessed through the financial institution’s website. This paper found that RTO has played important roles as one viable VBI initiative and it is approved as a Shariah compliant product. Institute for Management and Business Research (IMBRe), Universiti Utara Malaysia 2021 Article PeerReviewed application/pdf en cc4_by https://repo.uum.edu.my/id/eprint/28262/1/JBMA%2011%201%202021%2045%2058.pdf Md Nor, Mohd Zakhiri and Mohamad, Ani Munirah and Mohd Arshad, Ain Husna and Abdul Jalil, Najah Inani (2021) Rent to own as value-based financial intermediation: Legal and shariah analysis. Journal of Business Management and Accounting (JBMA), 11 (1). pp. 45-58. ISSN 2231-9298 http://e-journal.uum.edu.my/index.php/jbma/article/view/13681 https://doi.org/10.32890/jbma2021.11.1.3 https://doi.org/10.32890/jbma2021.11.1.3
institution Universiti Utara Malaysia
building UUM Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Utara Malaysia
content_source UUM Institutional Repository
url_provider http://repo.uum.edu.my/
language English
topic HF5601 Accounting
spellingShingle HF5601 Accounting
Md Nor, Mohd Zakhiri
Mohamad, Ani Munirah
Mohd Arshad, Ain Husna
Abdul Jalil, Najah Inani
Rent to own as value-based financial intermediation: Legal and shariah analysis
description Generally, Rent to Own (RTO) is a financial scheme offered by financial institutions to help those who cannot afford the 10% initial deposit and access to financial schemes. One value-based intermediation (VBI) initiative is the RTO Islamic financing product. The market segment of this product is for the new generation whereby they can own a house without paying any deposit on account of the fact that housing estates are increasingly expensive. This paper starts with the background concept of VBI, then it discusses on the modus operandi of RTO offered by financial institutions. This paper also discusses legal and Shariah aspects related to RTO. Adopting a qualitative method, the data were collected through semi-structured interviews with relevant parties involved with the RTO product. In addition, some preliminary information had been accessed through the financial institution’s website. This paper found that RTO has played important roles as one viable VBI initiative and it is approved as a Shariah compliant product.
format Article
author Md Nor, Mohd Zakhiri
Mohamad, Ani Munirah
Mohd Arshad, Ain Husna
Abdul Jalil, Najah Inani
author_facet Md Nor, Mohd Zakhiri
Mohamad, Ani Munirah
Mohd Arshad, Ain Husna
Abdul Jalil, Najah Inani
author_sort Md Nor, Mohd Zakhiri
title Rent to own as value-based financial intermediation: Legal and shariah analysis
title_short Rent to own as value-based financial intermediation: Legal and shariah analysis
title_full Rent to own as value-based financial intermediation: Legal and shariah analysis
title_fullStr Rent to own as value-based financial intermediation: Legal and shariah analysis
title_full_unstemmed Rent to own as value-based financial intermediation: Legal and shariah analysis
title_sort rent to own as value-based financial intermediation: legal and shariah analysis
publisher Institute for Management and Business Research (IMBRe), Universiti Utara Malaysia
publishDate 2021
url https://repo.uum.edu.my/id/eprint/28262/1/JBMA%2011%201%202021%2045%2058.pdf
https://doi.org/10.32890/jbma2021.11.1.3
https://repo.uum.edu.my/id/eprint/28262/
http://e-journal.uum.edu.my/index.php/jbma/article/view/13681
https://doi.org/10.32890/jbma2021.11.1.3
_version_ 1769845892899143680
score 13.211869

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