NDLI: Landmark legal cases on Bai' Bithaman Ajil (BBA) house financing in Malaysia

Content Provider	IEEE Xplore Digital Library
Author	Azli, Rafidah Mohd Othman, Rohana Aris, Nooraslinda Abdul Sahri, Mardhiyyah
Copyright Year	2012
Description	Author affiliation: Centre for Islamic Thought and Understanding, UiTM Shah Alam (Sahri, Mardhiyyah) \|\| Accounting Research Institute, UiTM Shah Alam and Centre for Islamic Thought and Understanding, UiTM Negeri Sembilan (Azli, Rafidah Mohd) \|\| Accounting Research Institute UiTM Shah Alam (Othman, Rohana; Aris, Nooraslinda Abdul)
Abstract	The Central Bank of Malaysia has approved the application of BBA in all financial institutions. Nevertheless, despite it being deemed to be a Shari'ah compliant instrument, the validity of the contract in its essence or even in its execution has been repeatedly challenged in a number of cases in Malaysia. This paper discusses on the importance of understanding the significance of the BBA in the eyes of Maqasid Shari'ah. It also attempts to highlight the legal issues in landmark cases involving BBA instruments. Finally, this paper provides recommendations and suggests several modifications in BBA practice so that the public would have more confidence towards this Islamic financing facility.
Starting Page	367
Ending Page	370
File Size	90284
Page Count	4
File Format	PDF
ISBN	9781467304252
e-ISBN	9781467304269
DOI	10.1109/BEIAC.2012.6226085
Language	English
Publisher	Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Publisher Date	2012-04-07
Publisher Place	Malaysia
Access Restriction	Subscribed
Rights Holder	Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Subject Keyword	Contracting Parties Bai' Bithaman Ajil Islamic Financing Maqasid Shari'ah Business
Content Type	Text
Resource Type	Article

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