Transcription of inah and Tawarruq Instrument as adopted by Some …
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inah and Tawarruq Instrument as adopted by Some …
A Review of Islamic Credit card Using Bay' al- inah and Tawarruq Instrument as adopted by some malaysian financial institution by Asst. Prof. Dr. Azman Mohd Noor Department of Fiqh and Usul al-Fiqh International Islamic University Malaysia. Rafidah binti Hj Mohd Azli Centre of Islamic Thought and Understanding (CITU). MARA University of Technology Malaysia. Abstract Islamic credit card or better known as Credit card -i is one of the alternative banking products introduced by Islamic financial institutions in Malaysia to substitute the conventional credit card . This paper aims at reviewing the bay' al- inah and Tawarruq structure as applied by Islamic financial institutions in Malaysia from Shariah Compliance perspectives. The method used is descriptive and positive analytical criticism which aims at improving the existing structure. Introduction Islamic credit card has been recognized as the Shariah compliant product by Shariah Advisory Council of Bank Negara Malaysia (BNM).
1 A Review of Islamic Credit Card Using Bay’ al-‘inah and Tawarruq Instrument as adopted by Some Malaysian Financial Institution by Asst. Prof. Dr. Azman Mohd Noor ...
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