Legal stains in the Malaysian Islamic Banking practices of AlIjarah Thumma Al Bai' (AITAB)
IjarahThumma al Bai’ (AITAB) is a modern product of Islamic banking which was incepted more than ten years ago. It shows the novel constituent of Islamic banking. AITAB is the alternative for conventional hire-purchase. The popularity of this product have boosted among the customers, but there a...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
World Business Institute
2012
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| Subjects: | |
| Online Access: | http://irep.iium.edu.my/47007/ http://irep.iium.edu.my/47007/ http://irep.iium.edu.my/47007/1/47007_-_Legal_stains_in_the_Malaysian_islamic_banking.pdf |
| Summary: | IjarahThumma al Bai’ (AITAB) is a modern product of Islamic
banking which was incepted more than ten years ago. It shows
the novel constituent of Islamic banking. AITAB is the
alternative for conventional hire-purchase. The popularity of
this product have boosted among the customers, but there are
certain legal stains in this product which needs to be
highlighted and rectified in order to engrave Islamicity in the
product. The main objective of this paper is to analyze the
legal issues involved in AITAB and to give appropriate
recommendations to curb these predicaments. |
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