Islamic house financing Bai Bitaman Ajil & Musharakah Mutanaqisah
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In Malaysia Islamic Banks or Islamic windows offer two types of Islamic House financing which is BBA and MM contract. BBA is the contract where the bank buy and sell the house at higher price (cost plus profit) to the customer who is need of the house and pay monthly installment to the bank. MM on the other hand is the diminishing partnership means that both customer and bank share capital to purchase the house. The bank then rent the house to the partner also sell its proportion share. Hence at the end of the tender, the house is owned 100% by customer.
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BBA refers to the sale of goods on a deferred payment basis at a pre-agreed price that includes a profit margin. MMQ is a partnership where one partner promises to gradually purchase the other's equity share until full ownership is transferred.
Some advantages of MMQ are flexibility in payments, daily profit calculation incentives, and exemptions from installments. Key advantages of BBA are a set total cost, transparency, and lack of uncertainty.
The main differences are that MMQ is seen as joint ownership while BBA is debt financing
ISLAMIC HOUSING FINANCING AND CONVENTIONAL HOUSING LOAN BY BANKS
Hong Leong Islamic Bank and Hong Leong Bank are compared to highlight the differences between Islamic financing and conventional loans for housing. Islamic financing is based on Shariah law and prohibits interest, using structures like diminishing Musharaka instead. Conventional loans use interest and a debtor-creditor relationship. For housing, Islamic financing typically uses Musyarakah Mutanaqisah and Bai Bithaman Ajil, which set a maximum selling price rather than variable interest. While computations are similar, Islamic financing provides more certainty in payments and treats early settlement fees more fairly compared to conventional loans.
Source of finance = financial institution
The document discusses various sources of finance available from financial institutions for corporate entities. It covers equity-based financing options like trustee partnerships and debt-based options commonly used by conventional and Islamic banks. Some popular Islamic debt-based products discussed include bai muajjal murabahah, ijara, salam, istishna, istijrar, qard and tawarruq. Each financial instrument is explained along with its mechanics and differences from conventional alternatives.
uses of fund
Qardhul Hasan refers to an interest-free loan where the borrower repays only the principal amount. It is commonly used in Islamic banking for venture capital funding and financing education. Rahnu financing involves using collateral or assets as security for a debt, allowing the debt to be paid from the collateral if repayment fails. Other types of Islamic securities for investment include sale-and-buyback agreements, negotiable debt certificates, acceptance bills, government investment issues, and Bank Negara negotiable notes, which are structured using concepts like murabahah and bai al-inah to make them compliant with Shariah.
Is the al bai bithaman a jil relatively attractive home purchase finance inst...
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This document summarizes an academic paper on whether Islamic banking complements or competes with conventional banks. It begins with an introduction on the origins and growth of Islamic banking as an alternative to conventional interest-based banking for Muslims. The key principles of prohibiting riba (usury or interest) and gharar (deception or ambiguity) in Islamic finance are discussed. It then provides an overview of the paper's literature review on the competitive advantages and customer acceptance of Islamic banking. The methodology section outlines how the author conducted surveys of bank managers and customers in Brunei. It also gives context on Brunei's banking industry and regulations. The findings chapters summarize the survey responses. The conclusion considers whether Islamic banking complements or compet
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MY SBPFULL pptx
This document provides an outline for a presentation on Islamic banking. It begins with introducing the presenter and their qualifications. It then outlines the topics to be covered, including the history of Islamic banking, how it operates in Pakistan, the differences between Islamic and conventional banking, the principles of Islamic banking, common Islamic financial terms, Islamic laws on trading, modes of Islamic financing, and the role of the State Bank of Pakistan in regulating Islamic banks. It provides details on the history and development of Islamic banking in Pakistan. It explains the key differences between Islamic and conventional banking and the main principles and modes of Islamic financing like murabahah, musharakah, and mudarabah.
Islamic Banking
This document provides an overview of Islamic banking through a presentation by several members. It begins with an introduction to Islamic banking principles such as prohibiting interest and encouraging profit and loss sharing. It then discusses various Islamic financing modes like murabaha, ijara, musharakah, and sukuk. The document also covers the history and development of Islamic banking, current practices in countries like the UK, and challenges related to standardization and a shortage of qualified scholars and professionals.
The principles-of-islamic-finance
The document discusses the principles of Islamic finance. It begins by defining Islamic banking as a form of modern banking based on risk-sharing and excluding interest. It states that the purpose of Islamic finance is to mobilize resources to promote development. The two main principles are the prohibition of riba (interest) and gharar (uncertainty). It then discusses various financing instruments in Islamic finance like murabaha, mudarabah, musharakah, ijara, salam and istisna'a.
Islamic banking
Islamic banking follows Shariah (Islamic law) which prohibits riba (interest) and gharar (excessive uncertainty). It was first established in Malaysia in 1983 and various concepts like Wadiah (safekeeping), Mudharabah (profit-sharing), and Murabahah (cost-plus) are used. Islamic banks have Shariah committees that ensure compliance with Islamic principles. Customers can obtain Islamic banking products from any bank with the Islamic banking logo, and complaints can be made to the bank's Complaints Unit.
Islamic banking
Islamic banking is banking based on Islamic law (Shariah) which prohibits riba (interest) and gharar (excessive uncertainty). It was first established in Malaysia in 1983 and follows concepts like Wadiah (safekeeping), Mudharabah (profit-sharing), Murabahah (cost-plus), and Ijarah (leasing). Islamic banks must separate their Islamic and conventional operations and have Shariah committees that ensure compliance with Shariah principles. The document provides explanations of common Islamic banking concepts and answers frequently asked questions about differences between Islamic and conventional banking and how to make complaints.
Islamic banking
Islamic banking follows Shariah (Islamic law) which prohibits riba (interest) and gharar (excessive uncertainty). It was first established in Malaysia in 1983 and various concepts like mudharabah (profit-sharing), murabahah (cost-plus), and ijarah (leasing) are used. Islamic banks have Shariah committees that ensure compliance with Islamic principles. This document provides an overview of Islamic banking concepts and answers frequently asked questions about differences between Islamic and conventional banking and where to obtain Islamic banking services.
Mba islamic bank
Islamic banking operates according to Islamic law (Sharia) and prohibits interest. It is based on profit and loss sharing. The main contracts used in Islamic banking are murabaha, ijara, salam, istisna, and musharaka. Islamic banks earn profits through trading, leasing, fees, and using other Sharia-compliant contracts instead of interest. They are overseen by a Sharia board and investments are not guaranteed to preserve the principal or provide fixed returns.
Islamic finance
Islamic banking is a modern banking system based on Islamic legal concepts that uses risk-sharing as its main method, excluding interest-based financing. This document discusses the definition of Islamic banking, its internationalization in countries like Indonesia, Brunei, and Singapore, its establishment in Pakistan in 2004, and five main sources of Islamic finance - Mudaraba, Musharka, Murahaba, Ijara, and Sukuk. It also outlines major challenges faced by the industry related to financial innovation and risk, global economic integration, and developing consistent accounting and auditing standards.
Finance
The document discusses various banking products and services offered by Meezan Bank, an Islamic bank in Pakistan. It provides details on deposit accounts like savings accounts, current accounts and term deposits that operate under Islamic principles. It also describes financing products for home financing, car financing and business financing that comply with Shariah law and avoid interest. The document aims to educate customers on Halal banking options for various financial needs.
successful micro finance and Islamic micro finance
1) The document discusses various models of Islamic microfinance, including mudarabah, musharakah, murabahah, ijarah, and qardhul hasan.
2) Mudarabah involves a partnership between a microfinance institution and entrepreneur, with profits shared but losses borne by the institution. Musharakah also involves partnership but with shared profits and capital-proportional losses.
3) Murabahah involves the institution purchasing an asset for the entrepreneur and reselling it at a mark-up to be paid back in installments. Ijarah Muntahia Bitamleek is a lease-to-own arrangement, while qardhul hasan
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ISSUES AND RECOMMENDATIONS IN MUSHARAKAH MUTANAQISAH HOUSE FINANCING
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ISLAMIC HOUSING FINANCING AND CONVENTIONAL HOUSING LOAN BY BANKS
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Is the al bai bithaman a jil relatively attractive home purchase finance inst...
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- 1. Islamic House Financing Prepared by: 1. Sman Tairos 230698 2. Mst Monira Parvin 230903 3. Nurul Aqilah Binti Abdul Razak 233090 4. Nor Hamizah Nasarudin 233369 5. Nur Afifah binti Azman 233641
- 2. Introduction Basic need Shelter Resting Security Shelter or home is one of the elements that necessity of human basic need, and it had been classified as Daruriyat in term of protecting the life (Ismail, Azmi, & Thurasamy,. 2014)
- 3. Type of Islamic House Financing There are two type of Islamic House Financing offered by Islamic financial institution in Malaysia • Islamic House Financing based on Musharakah Mutanaqisah (MM)_ Diminishing partnership • Islamic House Financing based on Bai Bithaman Ajil (BBA)_ Deferred payment sale contract
- 4. Basic Principles of Islamic Huse Financing 1. Prohibition of Riba 2. Prohibition of Gharar
- 5. Islamic House Financing based on Musharakah Mutanaqisah
- 6. Musharakah Mutanaqisah • The Musharakah Mutanaqisah Partnership (MMP) is the diminishing partnership concept. • The contract combines two basic Islmaic concepts: Partnership (Musharakah) and leasing (Ijarah).
- 7. Musharakah Mutanaqisah source from: (Rafidah and Rohana, 2011)
- 8. Shariah Issues in Musharakah Mutanaqisah
- 9. Capital guarantee • The partnership is a contract of trust thus, partners are not allowed to guarantee the capital and the profit of the investment, unless if there negligence or misconduct of the partner. Definition • It is not acceptable for either of the partners to guarantee the return of the investment because partnership is founded on trust thus it does not entail guarantee. Ibn Qudamah (1992) & Ibn Muflah (2003) • It is permissible for the partners to request each other guaranteor or mortgage for guarantee against negligence, damage, or violation of conditions of partnership. Nadwah al- Barakah (2002)
- 10. Islamic House Financing based on Bai Bithaman Ajil
- 11. DEFINITION the sale of goods on a deferred payment basis which is known as a deferred payment sales. The deferred payment prices as well as the sale price which include bank’s profit and agreed by both parties.
- 12. Bai Bithamin Ajil source from: (Rafidah and Rohana, 2011)
- 13. Issues with Bai Bithaman Ajil 1. The BBA is a debt type financing which resembles to conventional loan 2. The return on BBA is fixed selling price 3. Since some of the Islamic scholars including Malikies, Hanafi‟s, and Hanbali did not agree on using this product since this product look similar to Bay‟al inah contract (Nazah, 2013). 4. BBA’s client is obliged to pay the fixed amount
- 14. DIFFERENCES • Deferred payment sale contract. • Debt type financing. • More complicated, and buyer only can own the property right after the full payment of the full tenor has been made. • Partnership concept. • A joint ownership. • More flexible, can own the property earlier by redeeming earlier the principle sum of the bank without the need to compute the rebates. BAI’ BITHAMAN AJIL (BBA) MUSHARAKAH MUTANAQISAH (MM)
- 15. • The bank buys the property from the developer and sells its back to the customer, plus it profit margin. • Assist the customer paying the cost of financing during the tenor of the facility at fixed rate determined by the bank. • The bank then leases the house under Ijarah. The share then will be divided into a number of equal units and the customer promises to buy the individual units periodically until all are taken up. • Property is owned by the customer while the bank participates as a financial partner (full or part) and the agreement are signed by the customer and the bank stipulates each party’s shares of the profits. BAI’ BITHAMAN AJIL (BBA) MUSHARAKAH MUTANAQISAH (MM)
- 16. Recommendation & Conclusion Musharakah Mutanaqisah Bai Bithamin Ajil