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  2. 2. DEFINITION• BAI’ BITHAMAN AJILRefers to the sale ofgoods on a deferredpayment basis at aprice, which includes aprofit margin agreedupon by both parties.The profit is not aninterestpayment, however it ispart of the sale price.• MUSYARAKAHMUTANAQISAHForm of partnership inwhich one of thepartners promises tobuy the equity share ofother partner graduallyevidence until the titleof the equity iscompletely transferredto him.
  3. 3. ADVANTAGESMUSYARAKAHMUTANAQISAH• Facility to pay more installmentsat any time as well as get therebate.• Bank profits are calculated on amonthly and daily. Earlycustomers to make installmentpayments during the month thenlower the rate of profit taking.• Customers are given exemptionfrom payment installments amonth or once a year over thefinancing balance.• Free from the constraints of theproblem of failed development ofhouse.BAI BITHAMAN AJIL• The total cost of theproperty purchased isdetermined at the time ofcontract or aqad.• There is no additional or“hidden” cost that willchange the price of theproperty purchased.• The transaction istransparent.• There is no element ofuncertainties or Gharar.• Customers will know exactlywhen the financing will end.
  4. 4. DIFFERENCES BETWEEN BBA ANDMMQ CONTRACTS.The MMQ contract is seen as a joint ownership structurewhereas the BBA is a debt-type financing.As a financing structure, the MMQ is more flexible than theBBA as the customer can own the property earlier byredeeming faster the principal sum of the bank without theneed to compute rebates, as is the case with the BBA.Many may be of the opinion that the BBA is similar to aconvention-al loan.The MMQ is accepted internationally as Shariah compliantwhereas the BBA is recognized predominantly in the east, Malaysia and so on.
  5. 5. FLOW OF BAI’ BITHAMAN AJILBANKCUSTOMERHOUSING DEVELOPER2. Bank purchased the house at RM100,000.003. Bank sells the house to customer atRM180,000.004. Customer repays RM180,000.00 by 180 equalmonthly installment of RM1,000.001.Customer indentifies a house to bepurchased (sign s&p agreement)
  6. 6. FLOW MUSYARAKAHMUTANAQISAHBANK CUSTOMERHOUSE90 % 10%Deferred ( installment )musyarakah