Class notes ISLAMIC FINANCE PRODUCTS AND SERVICES Financial and Accounting Principles in Islamic Finance, ISBN: 9783030162993
1 view 0 purchase
Course
ISLAMIC FINANCE PRODUCTS AND SERVICES
Institution
ISLAMIC FINANCE PRODUCTS AND SERVICES
Book
Financial and Accounting Principles in Islamic Finance
A summary with table of comparisons for understanding Islamic products and services offered by Islamic banks in Malaysia and the regulations behind it that helps to understand the whole structure in short time.
“Provision of Finance” means entering into, or making an arrangement for another person to enter
into, the businesses or activities which are in accordance with Shariah including:
(a) Equity or partnership financing, including musyarakah,musyarakah mutanaqisah and mudarabah;
(b) Lease based financing, including al-ijarah, al-ijarah muntahia bi al-tamlik and al-ijarah thumma al-bai`;
(c) Sale based financing, including istisna`, bai` bithaman ajil, bai` salam, murabahah and musawamah;
(d) Currency exchange contracts; Bai al-sarf
(e) Fee based activity, including wakalah;
(f) Purchase of bills of exchange, certificates of Islamic deposit or other negotiable instruments; and
(g) The acceptance or guarantee of any liability, obligation or duty of any person.
Debt based refer to financing activities Debt based refer to loan/ advances
● Revolving Financing Facilities (cash-line, Revolving Credit Facilities [same as IB]
credit card) Term Loan Products (Asset/Property Loan,Vehicle
● Term Financing Product (Property/Asset Loan)
Financing, Vehicle Financing etc
● Trade Finance Facilities (Import/Purchase &
Export/Sale)
● Ar - Rahn Financing (only IB)
Almost all Islamic Financing are Debt–Based
Products.
Tenure of debt-financing (i) Long-Term, (ii)
Medium-Term & (ii) Short-Term debt financing.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through EFT, credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying this summary from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller zinnera. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy this summary for R144,89. You're not tied to anything after your purchase.