Is any defect in Islamic banking products? a case study of BBA
The rapid growth of Islamic banking and finance plays significant role to provide the financing facility for both Muslims and non-Muslims. One of the most popular Islamic banking products for property financing is Bay‟ Bithaman Ajil (BBA). It has been widely used in Malaysian banking environment alt...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
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Choice College of Arts & Commerce, Pune.
2013
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| Subjects: | |
| Online Access: | http://irep.iium.edu.my/30959/ http://irep.iium.edu.my/30959/1/IS_ANY_DEFECT_IN_ISLAMIC_BANKING_PRODUCTS.pdf |
| _version_ | 1848780363904581632 |
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| author | Syed, Ahmed Salman Htay, Sheila Nu Nu |
| author_facet | Syed, Ahmed Salman Htay, Sheila Nu Nu |
| author_sort | Syed, Ahmed Salman |
| building | IIUM Repository |
| collection | Online Access |
| description | The rapid growth of Islamic banking and finance plays significant role to provide the financing facility for both Muslims and non-Muslims. One of the most popular Islamic banking products for property financing is Bay‟ Bithaman Ajil (BBA). It has been widely used in Malaysian banking environment although this type of product is not allowed in Middle East. When BBA is used to finance for any incomplete property, the unethical problems arise. It is because the banks are forcing the customers to pay and at the end, the customer does not occupy the property and at the same time, they are in debt. Banks should be taking responsibility, rather than putting the entire burden on the customers, in the case of default by property developer. This paper suggests the regulators, industry players and shari‟ah scholars to revisit the validity issue of BBA financing for the incomplete product. |
| first_indexed | 2025-11-14T15:32:29Z |
| format | Article |
| id | iium-30959 |
| institution | International Islamic University Malaysia |
| institution_category | Local University |
| language | English |
| last_indexed | 2025-11-14T15:32:29Z |
| publishDate | 2013 |
| publisher | Choice College of Arts & Commerce, Pune. |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | iium-309592013-07-25T01:06:56Z http://irep.iium.edu.my/30959/ Is any defect in Islamic banking products? a case study of BBA Syed, Ahmed Salman Htay, Sheila Nu Nu HG1501 Banking The rapid growth of Islamic banking and finance plays significant role to provide the financing facility for both Muslims and non-Muslims. One of the most popular Islamic banking products for property financing is Bay‟ Bithaman Ajil (BBA). It has been widely used in Malaysian banking environment although this type of product is not allowed in Middle East. When BBA is used to finance for any incomplete property, the unethical problems arise. It is because the banks are forcing the customers to pay and at the end, the customer does not occupy the property and at the same time, they are in debt. Banks should be taking responsibility, rather than putting the entire burden on the customers, in the case of default by property developer. This paper suggests the regulators, industry players and shari‟ah scholars to revisit the validity issue of BBA financing for the incomplete product. Choice College of Arts & Commerce, Pune. 2013-03 Article PeerReviewed application/pdf en http://irep.iium.edu.my/30959/1/IS_ANY_DEFECT_IN_ISLAMIC_BANKING_PRODUCTS.pdf Syed, Ahmed Salman and Htay, Sheila Nu Nu (2013) Is any defect in Islamic banking products? a case study of BBA. International Journal of Business, Management & Social Sciences, 2 (7). pp. 49-51. ISSN 2249 - 7463 |
| spellingShingle | HG1501 Banking Syed, Ahmed Salman Htay, Sheila Nu Nu Is any defect in Islamic banking products? a case study of BBA |
| title | Is any defect in Islamic banking products? a case study of BBA |
| title_full | Is any defect in Islamic banking products? a case study of BBA |
| title_fullStr | Is any defect in Islamic banking products? a case study of BBA |
| title_full_unstemmed | Is any defect in Islamic banking products? a case study of BBA |
| title_short | Is any defect in Islamic banking products? a case study of BBA |
| title_sort | is any defect in islamic banking products? a case study of bba |
| topic | HG1501 Banking |
| url | http://irep.iium.edu.my/30959/ http://irep.iium.edu.my/30959/1/IS_ANY_DEFECT_IN_ISLAMIC_BANKING_PRODUCTS.pdf |