Citation

Abdull Manaf, Azwina Wati and Mahyut, Siti Marshita and Shakri, Asfarina Kartika (2019) Analysis on Islamic Home Financing in Malaysia. Journal of Contemporary Islamic Studies, 3 (2017). pp. 1-16. ISSN 2289-9634

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Abstract

Islamic financial institutions (IFIs) realize that they need to innovate and create new products in order to remain competitive with the conventional products. In introducing Islamic home financing, Islamic banking has used several Islamic concepts such as Ijarah (leasing), Istisna’ (purchase order) and Musharakah Mutanaqisah (partnership) to create more flexible products and provide more options for the people to choose the kind of products that suit them the most. Islamic home financing product is also considered as an alternative product to conventional housing loan with its own specialties to be discussed later. In introducing new product, Bank Negara Malaysia plays an important role in providing guidelines for the IFIs to adhere to in innovating or developing to serve the interest of the customers. This paper analyses in detail on how Islamic finance concepts are used and applied by the IFIs to introduce different types of home financing products.

Item Type:	Article
Uncontrolled Keywords:	Islamic financial
Subjects:	H Social Sciences > HG Finance > HG3810-4000 Foreign exchange. International finance. International monetary system
Divisions:	Faculty of Law (FOL)
Depositing User:	Ms Suzilawati Abu Samah
Date Deposited:	27 Apr 2022 00:53
Last Modified:	27 Apr 2022 00:53
URII:	http://shdl.mmu.edu.my/id/eprint/9396

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