Bai Al-Inah and Tawaruq As A Solution to Interest-Based Personal Financing Facility.
Islamic banks offer personal financing in Malaysia based on the concept of Bai al-Inah. However, there exists some concern over the treasure of riba, in the implementation Bai al-Inah in personal financing. This study hence, attempts to seek opinion of scholars Shariah Advisory Council, Muftis and p...
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| Format: | Thesis |
| Language: | en en |
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2007
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| Online Access: | https://etd.uum.edu.my/9/1/mohd_farihal.pdf https://etd.uum.edu.my/9/2/mohd_farihal.pdf https://etd.uum.edu.my/9/ |
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| _version_ | 1833435319351902208 |
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| author | Osman, Mohd Farihal |
| author_facet | Osman, Mohd Farihal |
| author_sort | Osman, Mohd Farihal |
| building | UUM Library |
| collection | Institutional Repository |
| content_provider | Universiti Utara Malaysia |
| content_source | UUM Electronic Theses |
| continent | Asia |
| country | Malaysia |
| description | Islamic banks offer personal financing in Malaysia based on the concept of Bai al-Inah. However, there exists some concern over the treasure of riba, in the implementation Bai al-Inah in personal financing. This study hence, attempts to seek opinion of scholars Shariah Advisory Council, Muftis and practitioners on the usage of Bai al-Imh and its alternative, Tawarruq. Tawarruq is widely used
in Middle East commercial transaction but not in Malaysia. From a survey of these respondents and structured interview with the Muftis, we obtain the following Findings: i) Bai al-Inah is acceptable to be used in Malaysia. ii) Although Tavarruq is better alternative, many practitioners are not familiar with this concept. iii) Hardly any application of Tawarruq by Islamic banks in
Malaysia. |
| format | Thesis |
| id | my.uum.etd-9 |
| institution | Universiti Utara Malaysia |
| language | en en |
| publishDate | 2007 |
| record_format | eprints |
| spelling | my.uum.etd-92013-07-24T12:05:16Z https://etd.uum.edu.my/9/ Bai Al-Inah and Tawaruq As A Solution to Interest-Based Personal Financing Facility. Osman, Mohd Farihal HG Finance Islamic banks offer personal financing in Malaysia based on the concept of Bai al-Inah. However, there exists some concern over the treasure of riba, in the implementation Bai al-Inah in personal financing. This study hence, attempts to seek opinion of scholars Shariah Advisory Council, Muftis and practitioners on the usage of Bai al-Imh and its alternative, Tawarruq. Tawarruq is widely used in Middle East commercial transaction but not in Malaysia. From a survey of these respondents and structured interview with the Muftis, we obtain the following Findings: i) Bai al-Inah is acceptable to be used in Malaysia. ii) Although Tavarruq is better alternative, many practitioners are not familiar with this concept. iii) Hardly any application of Tawarruq by Islamic banks in Malaysia. 2007 Thesis NonPeerReviewed application/pdf en https://etd.uum.edu.my/9/1/mohd_farihal.pdf application/pdf en https://etd.uum.edu.my/9/2/mohd_farihal.pdf Osman, Mohd Farihal (2007) Bai Al-Inah and Tawaruq As A Solution to Interest-Based Personal Financing Facility. Masters thesis, Universiti Utara Malaysia. |
| spellingShingle | HG Finance Osman, Mohd Farihal Bai Al-Inah and Tawaruq As A Solution to Interest-Based Personal Financing Facility. |
| title | Bai Al-Inah and Tawaruq As A Solution to Interest-Based Personal Financing Facility. |
| title_full | Bai Al-Inah and Tawaruq As A Solution to Interest-Based Personal Financing Facility. |
| title_fullStr | Bai Al-Inah and Tawaruq As A Solution to Interest-Based Personal Financing Facility. |
| title_full_unstemmed | Bai Al-Inah and Tawaruq As A Solution to Interest-Based Personal Financing Facility. |
| title_short | Bai Al-Inah and Tawaruq As A Solution to Interest-Based Personal Financing Facility. |
| title_sort | bai al-inah and tawaruq as a solution to interest-based personal financing facility. |
| topic | HG Finance |
| url | https://etd.uum.edu.my/9/1/mohd_farihal.pdf https://etd.uum.edu.my/9/2/mohd_farihal.pdf https://etd.uum.edu.my/9/ |
| url_provider | http://etd.uum.edu.my/ |