Publication:
Shari'ah and legal issues of musharakah mutanaqisah
Abstract
Deemed as a better alternative to bay bithaman ajil (BBA - sale of goods on a deferred payment basis) a study on the issues of musharakah mutanaqisah (MM) is timely for a more equity-oriented and Islamic universal banking philosophy. Some may view diversification of product space to fulfil the expectation of Shari'ah compliance as driving factors behind the offering of MM. However, one seldom comes across roses without thorns. And, the worrisome thorn in the side of Islamic finance is the limited use of MM, notwithstanding its appeal as a Shari'ah-based innovation.
Keywords
Musharakah mutanaqisah , Islamic banking
Citation
Ng, A. B. K. (2009). Shari'ah and legal issues of musharakah mutanaqisah. New Horizon, 173, (October-December 2009), pp. 46-48.
Publisher
Institute of Islamic Banking and Insurance