Ijarah Ijarah means lease‚ rent or wage. Generally‚ Ijarah concept means selling benefit or use or service for a fixed price or wage. Under this concept‚ the Bank makes available to the customer the use of service of assets / equipments such as plant‚ office automation‚ motor vehicle for a fixed period and price. Advantages Of Ijarah The following are the advantages of Ijarah to lessee: 1)Ijarah conserves capital as it may provide 100% financing. 2)Ijarah enables the Lessee to have the use of
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Islamic Financial Services‚ Vol. 5‚ No. 3 AN EXPLORATORY STUDY OF IJARAH ACCOUNTING PRACTICES IN MALAYSIAN FINANCIAL INSTITUTIONS Ros Aniza Mohd. Shariff Abdul Rahim Abdul Rahman Prior studies on Ijarah were mainly focusing on the economics‚ legal and financial aspects‚ there was‚ however‚ so far no in-depth study on accounting for Ijarah. The main objective of this study is to explore the nature of accounting for Ijarah financial instruments as practiced by Malaysian financial institutions
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Evaluation on Al-Ijarah Thumma Al-Bay’ (AITAB) Facility: The Case of Affin Islamic Bank Berhad Aisyah Abdul Rahman‚ PhD. eychah@ukm.my Rahazilah Binti Rahman School of Business‚ Faculty of Economy and Management‚ Universiti Kebangsaan Malaysia‚ 43600 UKM Bangi‚ Selangor‚ Malaysia. Abstract Al-Ijarah Thumma Al-Bay‟ (AITAB) is the contemporary innovative product that specifically designed for Islamic hire-purchase facility with compliance of Shariah principle. Even though AITAB facility was established
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ACCOUNTING FOR ISLAMIC BANKS ACC 4561 SECTION 2 IJARAH 21ST DECEMBER 2012 PREPARED FOR: MDM. ROS ANIZA MOHD. SHARIFF PREPARED BY: GROUP 4 MOHAMAD SHAFIQ BIN MUSA NUR AIN BT MAZUPI NADHIRAH AZIDY NURUL NAJAT BT HALIM MUHAMMAD AYMAN BIN A YAZID (0824825) (0812550) (0933644) (0831108) (1011065) 0 ABSTRACT This paper is on the study of Ijarah Financing in Malaysia and Bahrain with the related issues faced by Islamic Banks in Malaysia regarding Ijarah. All the data were extracted from the annual
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MANAGEMENT OF SCIENCES TOPIC: IJARAH Done by: Muhammad Hibatul Hakimi b Haji Suhaili (10B0911) Contents Introduction 1 Basis of Ijarah 2 Essential elements of ijarah contract 2 Modus Operandi 3 3 Selected Banks 4 Conclusion 6 Bibliography 6 Introduction An Islamic alternative to conventional leasing is ijarah. Ijarah is a derivative of the Arabic words ‘ajr’ and ujrah which means consideration‚ return‚ wages‚ or rent. Generally‚ Ijarah means to give something on a rental
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In Malaysia‚ Forward Ijarah is practiced by a few Islamic Banks only as there are at least two financial institutions that currently offer forward Ijarah‚ either as a standalone product on it is own or as a hybrid along with other products. 1. Forward Ijarah for House Financing – stand alone basis It is a product offered for purposes of home financing where the property financed is not completed yet or still under construction. As the usufruct is not available due to non-completion of property‚ the
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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................
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Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington‚ D. C. 20549 FORM 10-K (Mark One) ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended February 2‚ 2013 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 1-12107 ABERCROMBIE & FITCH CO. (Exact name of registrant as specified in its charter)
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SUKUK AL-IJARAH AS ALTERNATIVE FOR PROPERTY DEVELOPMENT FINANCING OVERVIEW IN MALAYSIA MARKET By Razlan Bin Raghazli 1200248 International Centre for Education in Islamic Finance Malaysia July 08‚ 2012 June – August 2012 Sukuk Al-Ijarah as an Alternative for Project Financing Overview of Malaysian Property Development Razlan Raghazli June 2010 1.0 Introduction Nowadays‚ the funding from Islamic Finance Product is highly demanded
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Islamic Economic Studies Vol. 4‚ No. 2‚ May 1997 THE USE OF ASSETS IJARA BONDS FOR BRIDGING THE BUDGET GAP MONZER KAHF* A shari‘ah compatible fixed-return financial instrument is needed in an Islamic economy. This paper explores the potential of ijara (renting)-based financial instruments to meet this need. The paper proposes ijara-bonds as marketable Islamic financial instruments for resource mobilization in the public sector as well as an instrument for monetary policy. Private companies
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