The application of Shari’ah contract in Islamic financing guarantee schemes of Credit Guarantee Corporation (CGC) / Husniyati Ali, Badrul Hisham Kamaruddin and Ismail Ahmad
Islamic financing is regarded as one of the financing alternatives that enterprises may utilize to fund their business. This financing type is characterized as free from riba and is based on illiquid assets which create real assets and inventories. The aim of this conceptual paper is to highlight th...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
Universiti Teknologi MARA, Shah Alam
2019
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| Online Access: | https://ir.uitm.edu.my/id/eprint/29567/1/29567.pdf |
| _version_ | 1796902866325078016 |
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| author | Ali, Husniyati Kamaruddin, Badrul Hisham Ahmad, Ismail |
| author_facet | Ali, Husniyati Kamaruddin, Badrul Hisham Ahmad, Ismail |
| author_sort | Ali, Husniyati |
| collection | UITM |
| description | Islamic financing is regarded as one of the financing alternatives that enterprises may utilize to fund their business. This financing type is characterized as free from riba and is based on illiquid assets which create real assets and inventories. The aim of this conceptual paper is to highlight the Shari’ah contract of al Kafalah that is used by Credit Guarantee Corporation (CGC) to attach to its Islamic financing guarantee scheme offered to business enterprises. Kafalah refers to an obligation to pay in the event the principal debtor is unable to honour his obligation. Through this Shari’ah contract, the CGC has indeed paved a new way of financing enterprises which are keen on having halal financing to fund their business activities. Most importantly, this addition of halal financing has accelerated the growth of Islamic finance in Malaysia. |
| first_indexed | 2024-03-06T02:11:39Z |
| format | Article |
| id | uitm.eprints-9567 |
| institution | Universiti Teknologi MARA |
| language | English |
| last_indexed | 2024-03-06T02:11:39Z |
| publishDate | 2019 |
| publisher | Universiti Teknologi MARA, Shah Alam |
| record_format | dspace |
| spelling | uitm.eprints-95672022-07-04T06:44:59Z https://ir.uitm.edu.my/id/eprint/29567/ The application of Shari’ah contract in Islamic financing guarantee schemes of Credit Guarantee Corporation (CGC) / Husniyati Ali, Badrul Hisham Kamaruddin and Ismail Ahmad abrij Ali, Husniyati Kamaruddin, Badrul Hisham Ahmad, Ismail Finance, Islamic Islamic financing is regarded as one of the financing alternatives that enterprises may utilize to fund their business. This financing type is characterized as free from riba and is based on illiquid assets which create real assets and inventories. The aim of this conceptual paper is to highlight the Shari’ah contract of al Kafalah that is used by Credit Guarantee Corporation (CGC) to attach to its Islamic financing guarantee scheme offered to business enterprises. Kafalah refers to an obligation to pay in the event the principal debtor is unable to honour his obligation. Through this Shari’ah contract, the CGC has indeed paved a new way of financing enterprises which are keen on having halal financing to fund their business activities. Most importantly, this addition of halal financing has accelerated the growth of Islamic finance in Malaysia. Universiti Teknologi MARA, Shah Alam 2019-09 Article PeerReviewed text en https://ir.uitm.edu.my/id/eprint/29567/1/29567.pdf The application of Shari’ah contract in Islamic financing guarantee schemes of Credit Guarantee Corporation (CGC) / Husniyati Ali, Badrul Hisham Kamaruddin and Ismail Ahmad. (2019) Advances in Business Research International Journal (ABRIJ) <https://ir.uitm.edu.my/view/publication/Advances_in_Business_Research_International_Journal_=28ABRIJ=29/>, 5 (2). pp. 7-14. ISSN 2462-1838 https://abrij.uitm.edu.my |
| spellingShingle | Finance, Islamic Ali, Husniyati Kamaruddin, Badrul Hisham Ahmad, Ismail The application of Shari’ah contract in Islamic financing guarantee schemes of Credit Guarantee Corporation (CGC) / Husniyati Ali, Badrul Hisham Kamaruddin and Ismail Ahmad |
| title | The application of Shari’ah contract in Islamic financing guarantee schemes of Credit Guarantee Corporation (CGC) / Husniyati Ali, Badrul Hisham Kamaruddin and Ismail Ahmad |
| title_full | The application of Shari’ah contract in Islamic financing guarantee schemes of Credit Guarantee Corporation (CGC) / Husniyati Ali, Badrul Hisham Kamaruddin and Ismail Ahmad |
| title_fullStr | The application of Shari’ah contract in Islamic financing guarantee schemes of Credit Guarantee Corporation (CGC) / Husniyati Ali, Badrul Hisham Kamaruddin and Ismail Ahmad |
| title_full_unstemmed | The application of Shari’ah contract in Islamic financing guarantee schemes of Credit Guarantee Corporation (CGC) / Husniyati Ali, Badrul Hisham Kamaruddin and Ismail Ahmad |
| title_short | The application of Shari’ah contract in Islamic financing guarantee schemes of Credit Guarantee Corporation (CGC) / Husniyati Ali, Badrul Hisham Kamaruddin and Ismail Ahmad |
| title_sort | application of shari ah contract in islamic financing guarantee schemes of credit guarantee corporation cgc husniyati ali badrul hisham kamaruddin and ismail ahmad |
| topic | Finance, Islamic |
| url | https://ir.uitm.edu.my/id/eprint/29567/1/29567.pdf |
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