Al Ijarah Thumma Al Bai'

Page 1 of 32

Al Ijarah Thumma Al Bai'

By | December 2012
Page 1 of 32
INCEIF

The Global University in Islamic Finance Kuala Lumpur, Malaysia (CIFP)

AL IJARAH THUMMA AL BAI’ (AITAB)
(SH1003)
Semester September 2012

Name: NORHADIYATUL AKMA BINTI JAAFAR
Student No: 1200335

TABLE OF CONTENTS

Abstract.....................................................................................................................................2

Key Terms of the Paper.............................................................................................................2

Introduction...............................................................................................................................3

1.0 Concept of AITAB .............................................................................................................4 1.01 What is Al-Ijarah, Its Conditions and Salient Features of Ijarah Contract .......4 1.1 Overview of AITAB Development in Malaysia.................................................................6 1.2 Mode of Operation …………...……………………………………….………….............6 1.3 A Comparison with Conventional Hire Purchase In the Malaysian Context.....................8 1.31Comparative Features from Shari'ah Perspective ............................................8 1.32Comparative Features from Practical Perspective .........................................10

1.4 Issues In the Operation of Islamic Hire Purchase……………………………………….12

1.5 Challenges in the Operation of AITAB............................................................................. 22

Concluding Remarks ...............................................................................................................25

Bibliography.............................................................................................................................27

Appendix I...