Deferred sale (Bai' Mu'ajjal/Bai' bi Thaman Ajil (BBA)): its origin and validity from a Maqasid Shari'ah perspective

Ali, Mohammed Farid (2018) Deferred sale (Bai' Mu'ajjal/Bai' bi Thaman Ajil (BBA)): its origin and validity from a Maqasid Shari'ah perspective. Intellectual Discourse, 26 (1). pp. 255-261. ISSN 0128-4878 E-ISSN 2289-5639

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Abstract

Deferred sale (Bai’ mu’ajjal), in the Islamic Banking and Finance world widely known as Bai’ bi thaman ajil (BBA), is used as an extension to Profit-sale (Bai’ murabahah); both sales complement each other. The Profitsale sells the commodity with profit over the cost price, and BBA plays the role of receiving that payment on deferred or installment basis. BBA has become the “premier consumer financing facility” for the Islamic financial institutions(IFIs). This paper deals with deferred sale precisely. It looks into its origin and its transition from void to valid sale. Its application as trade contract and its modern application as financing tool is analysed in the light of the maqāṣid Sharīʿah.

Item Type:	Article (Journal)
Additional Information:	7146/64518
Uncontrolled Keywords:	Deferred sale (Bai’ mu’ajjal), BBA (bai’ bi thaman ajil), Objectives/purpose of the Sharīʿah (Maqāṣid Sharīʿah), specified time (ajal ma’lum), unspecified time (ajal majhul)
Subjects:	B Philosophy. Psychology. Religion > BL Religion B Philosophy. Psychology. Religion > BP Islam. Bahaism. Theosophy, etc > BP1 Islam B Philosophy. Psychology. Religion > BP Islam. Bahaism. Theosophy, etc > BP1 Islam > BP173.75 Islam and economics H Social Sciences > HB Economic Theory > HB126.4 Islamic Economics H Social Sciences > HG Finance > HG201 Money H Social Sciences > HG Finance > HG201 Money
Kulliyyahs/Centres/Divisions/Institutes (Can select more than one option. Press CONTROL button):	Kulliyyah of Islamic Revealed Knowledge and Human Sciences > Department of Fiqh and Usul al-Fiqh Kulliyyah of Islamic Revealed Knowledge and Human Sciences
Depositing User:	DR MOHAMMED FARID ALI
Date Deposited:	18 Jul 2018 09:25
Last Modified:	18 Jul 2018 09:25
URI:	http://irep.iium.edu.my/id/eprint/64518

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