Islamic hire purchase law is getting special attention in Malaysia: a socio legal analysis
The Muamalah Hire Purchase Bill (MHPB) was initially prepared by a group of members of the shariah supervisory council of Bank Islam Malaysia Berhad (BIMB) in 1991 and it was later submitted to the Ministry of Domestic Trade and Consumer Affairs in Malaysia and the Central Bank of Malaysia for revie...
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| Format: | Article |
| Language: | English |
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Macrothink Institute, USA
2013
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| Online Access: | http://irep.iium.edu.my/35375/1/Islamic_hire_purchase_law_1.pdf |
| _version_ | 1825647867261353984 |
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| author | Md. Abdul , Jalil |
| author_facet | Md. Abdul , Jalil |
| author_sort | Md. Abdul , Jalil |
| collection | IIUM |
| description | The Muamalah Hire Purchase Bill (MHPB) was initially prepared by a group of members of the shariah supervisory council of Bank Islam Malaysia Berhad (BIMB) in 1991 and it was later submitted to the Ministry of Domestic Trade and Consumer Affairs in Malaysia and the Central Bank of Malaysia for review. Finally in the year 2000, it was referred to the Attorney General’s Chamber for further examination whether it met the shariah rules and how it could be implemented in Malaysia. However, the Bill could still not be submitted to the Parliament until today for consideration and approval due to certain reasons. The objective of this paper is to discuss the nature of the Islamic hire purchase contract (IHPC) and to compare it with the traditional hire purchase contract (THPC) for purposes to find the difference between the two systems of law. Descriptive and analytical research methodology had been applied in this research paper to analyze the collected data. |
| first_indexed | 2024-03-05T23:23:55Z |
| format | Article |
| id | oai:generic.eprints.org:35375 |
| institution | International Islamic University Malaysia |
| language | English |
| last_indexed | 2024-03-05T23:23:55Z |
| publishDate | 2013 |
| publisher | Macrothink Institute, USA |
| record_format | dspace |
| spelling | oai:generic.eprints.org:353752014-05-26T01:02:15Z http://irep.iium.edu.my/35375/ Islamic hire purchase law is getting special attention in Malaysia: a socio legal analysis Md. Abdul , Jalil KBP173.25 Islamic law and other disciplines or subjects The Muamalah Hire Purchase Bill (MHPB) was initially prepared by a group of members of the shariah supervisory council of Bank Islam Malaysia Berhad (BIMB) in 1991 and it was later submitted to the Ministry of Domestic Trade and Consumer Affairs in Malaysia and the Central Bank of Malaysia for review. Finally in the year 2000, it was referred to the Attorney General’s Chamber for further examination whether it met the shariah rules and how it could be implemented in Malaysia. However, the Bill could still not be submitted to the Parliament until today for consideration and approval due to certain reasons. The objective of this paper is to discuss the nature of the Islamic hire purchase contract (IHPC) and to compare it with the traditional hire purchase contract (THPC) for purposes to find the difference between the two systems of law. Descriptive and analytical research methodology had been applied in this research paper to analyze the collected data. Macrothink Institute, USA 2013 Article PeerReviewed application/pdf en http://irep.iium.edu.my/35375/1/Islamic_hire_purchase_law_1.pdf Md. Abdul , Jalil (2013) Islamic hire purchase law is getting special attention in Malaysia: a socio legal analysis. Journal of Sociological Research, 4 (2). pp. 28-50. ISSN 1948 - 5468 http://www.macrothink.org/journal/index.php/jsr/article/view/3796 10.5296/jsr.v4i2 . 3796 |
| spellingShingle | KBP173.25 Islamic law and other disciplines or subjects Md. Abdul , Jalil Islamic hire purchase law is getting special attention in Malaysia: a socio legal analysis |
| title | Islamic hire purchase law is getting special attention in Malaysia: a socio legal analysis |
| title_full | Islamic hire purchase law is getting special attention in Malaysia: a socio legal analysis |
| title_fullStr | Islamic hire purchase law is getting special attention in Malaysia: a socio legal analysis |
| title_full_unstemmed | Islamic hire purchase law is getting special attention in Malaysia: a socio legal analysis |
| title_short | Islamic hire purchase law is getting special attention in Malaysia: a socio legal analysis |
| title_sort | islamic hire purchase law is getting special attention in malaysia a socio legal analysis |
| topic | KBP173.25 Islamic law and other disciplines or subjects |
| url | http://irep.iium.edu.my/35375/1/Islamic_hire_purchase_law_1.pdf |
| work_keys_str_mv | AT mdabduljalil islamichirepurchaselawisgettingspecialattentioninmalaysiaasociolegalanalysis |