Journal Article
Published
INSTALLMENT SALE: ITS CONTEMPORARY APPLICATION IN ISLAMIC BANKING FINANCE (CASE STUDY BRUNEI DARUSSALAM)
2025
UNSPECIFIED
Abstract
One of the most important sales operations that have spread among members of society today is the
installment sale, and among the reasons for its spread are intense competition between producers and
the weak purchasing power of consumers. More people need goods and have no money to buy them
with cash, and many markets have suffered from the recession, so companies and institutions have
devised new marketing methods to provide the advantages of goods that aim to acquire the largest
possible number of consumers for these goods. This study aims to investigate the installment sale
process and to review the potential of Islamic banks in developing financing products with the
installment sale concept. The research method in this study uses a normative judicial method, aiming
to concern one of the applications of installment sales in Islamic bank finance based on the existing law
and regulation. This study concluded that the contemporary applications of installment sale concept in
Islamic banks of Brunei Darussalam, in form of financing with Tawarruq contracts, Islamic hire
purchase Ijarah Thumma al Bai’ (AITAB), and Musarakah Mutanaqisah (MMQ). With the concept of
installment sale applied by Islamic bank-based Islamic law and regulation, so that we can all avoid
doubts and become more confident in dealing with a transaction that is under sharia principles.
Publication Details
JournalMalaysian Journal of Syariah and Law
Volume10 (1)
Pagespp. 1-10
Subjects23rd Dewey Decimal Classification > 2X4 - Fikih (Fiqih, Fiqh), Hukum Islam > 2X4 - Fikih (Fiqih, Fiqh), Hukum Islam
23rd Dewey Decimal Classification > 2X6 - Masyarakat, Politik, Ekonomi, Organisasi, Kebudayaan, Perpustakaan, dan Adat Istiadat dalam Islam > 2X6.300 - Ekonomi Islam, Sistem Ekonomi Islam
23rd Dewey Decimal Classification > 2X6 - Masyarakat, Politik, Ekonomi, Organisasi, Kebudayaan, Perpustakaan, dan Adat Istiadat dalam Islam > 2X6.300 - Ekonomi Islam, Sistem Ekonomi Islam
Item ID7660
Deposited30 Apr 2025 06:09