Contracts, structures, and computation mechanisms of Islamic bank retail financing products: a critical assessment
This chapter discusses Islamic bank retail financing, its instruments, and operations. The discussion demonstrates that it is essential to have a banking system based on Shariah principles that fulfill the needs of Muslim consumers. The chapter examines the various personal financing products, t...
| Main Authors: | , , |
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| Format: | Book Chapter |
| Language: | English |
| Published: |
Palgrave Macmillan
2017
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| Subjects: | |
| Online Access: | http://irep.iium.edu.my/52929/ http://irep.iium.edu.my/52929/ http://irep.iium.edu.my/52929/ http://irep.iium.edu.my/52929/1/52929.pdf |
| Summary: | This chapter discusses Islamic bank retail financing, its instruments,
and operations. The discussion demonstrates that it is essential to
have a banking system based on Shariah principles that fulfill the needs of
Muslim consumers. The chapter examines the various personal financing
products, their underlying Islamic contracts, and their computational
mechanisms with appropriate examples. It also critically evaluates the products
of Islamic bank retail financing. The availability of various personal
financing instruments in Islamic banks allows Muslim consumers to achieve
their financing needs. Moving forward, a greater variety of instruments that invite fewer Shariah issues must be offered in the market to ensure
a more vibrant Islamic banking system. |
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