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: | Proceeding Paper |
| Language: | English English |
| Published: |
2013
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| Subjects: | |
| Online Access: | http://irep.iium.edu.my/29626/1/IS_ANY_DEFECT_IN_ISLAMIC_BANKING_PRODUCTS_A_CASE_STUDY_OF_BBA.pdf http://irep.iium.edu.my/29626/4/6_Is_Any_Defect_in_Islamic_Banking_A_Case_Study_on_BBA_Acceptance_Letter.pdf |
| _version_ | 1825647233186398208 |
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| author | Htay, Sheila Nu Nu Syed, Ahmed Salman |
| author_facet | Htay, Sheila Nu Nu Syed, Ahmed Salman |
| author_sort | Htay, Sheila Nu Nu |
| collection | IIUM |
| 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 | 2024-03-05T23:14:34Z |
| format | Proceeding Paper |
| id | oai:generic.eprints.org:29626 |
| institution | International Islamic University Malaysia |
| language | English English |
| last_indexed | 2024-03-05T23:14:34Z |
| publishDate | 2013 |
| record_format | dspace |
| spelling | oai:generic.eprints.org:296262013-09-13T07:02:21Z http://irep.iium.edu.my/29626/ Is any defect in Islamic banking products? a case study of BBA Htay, Sheila Nu Nu Syed, Ahmed Salman 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. 2013 Proceeding Paper PeerReviewed application/pdf en http://irep.iium.edu.my/29626/1/IS_ANY_DEFECT_IN_ISLAMIC_BANKING_PRODUCTS_A_CASE_STUDY_OF_BBA.pdf application/pdf en http://irep.iium.edu.my/29626/4/6_Is_Any_Defect_in_Islamic_Banking_A_Case_Study_on_BBA_Acceptance_Letter.pdf Htay, Sheila Nu Nu and Syed, Ahmed Salman (2013) Is any defect in Islamic banking products? a case study of BBA. In: International Interdisciplinary Conference on Recent Trends in Commerce Management, Engineering, Technology and Social Sciences”, 25 Feb 2013, Choice College of Arts and Commerce, Karve Road, Karishma Chowk, Behind Mc’Donalds, Kothrud, Pune – 411038.. |
| spellingShingle | HG1501 Banking Htay, Sheila Nu Nu Syed, Ahmed Salman 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/29626/1/IS_ANY_DEFECT_IN_ISLAMIC_BANKING_PRODUCTS_A_CASE_STUDY_OF_BBA.pdf http://irep.iium.edu.my/29626/4/6_Is_Any_Defect_in_Islamic_Banking_A_Case_Study_on_BBA_Acceptance_Letter.pdf |
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