Current Practices of Islamic Credit Cards in Malaysia
Journal Title: Saudi Journal of Business and Management Studies - Year 2017, Vol 2, Issue 12
Abstract
Abstract:The practice of Islamic credit cards today is still controversial among Muslim scholars particularly concerning to its contracts and as well as its efficiency to attain Maslahah. The Islamic credit card is very important and some studies have done on it. Conversely, studying about the contrast of the various product of Islamic credit cards practiced in Malaysia, although in the recent year is still limited. Consequently, this paper would like to undertake this concern by comparing the various products of Islamic Credit Cards in Malaysia. Islamic credit card known as Credit Card-i is such of the alternate banking products instigated through Bank Negara Malaysia (BNM), also Islamic financial institutions in Malaysia to exchange the conventional credit card. This article aims on evaluating the bay’ al-‘Inah, Tawarruq as well as Ujrah development while practiced over Bank Negara Malaysia (BNM) as well as Islamic Financial Institutions in Malaysia with Shariah compliance perceptions. The method used is explanative along with positive absorbed criticism which aims next to well the offered structure. Keywords:Current Practices of Islamic Credit Cards, the concept of Bay-Inah, Bay-Tawarruq, Ujrah.
Authors and Affiliations
Mohi Uddin, M M Ismail Hossin, MohdAminul Islam
Keywords
Related Articles
- EP ID EP395965
- DOI -
- Views 111
- Downloads 0
An Exposition of the Pension Scheme Management in Nigeria: A Case Study of South-Eastern States
Abstract:To retire is an inevitable event that is bound to happen to every worker in a life time and pension scheme is to provide the employees of an organization with the means of securing on retirement, a standard of l...
Cash Management Practices on Financial Performance of Small and Medium Enterprises in Nyeri Town, Kenya
Abstract: Small and Medium Enterprises (SMEs) lack adequate skills to manage and monitor their cash management practices leading to limited financial growth hence inability to compete while increasing their assets, openi...
Key CSR Practices and Their Contribution towards Business- A Study of Selected SMEs in Punjab, India
Abstract: Small & Medium Enterprises (SMEs) play a major role in global economic growth in terms of their contribution to industrial employment, output and exports. This sector was never taken into account for deliberati...
Budgeting Participation, Goal Commitment and Accounting Performance of Nigerian Listed Banks
Abstract: The behavioural aspect of budgeting has been on the front burners of academic discourse over the years. Recent shift in argument between budget participation and various elements of performance using indirect m...
Impact of Mandatory Information Disclosure on Compliance with CAMA 2004
Abstract: This study examined the impact of mandatory information disclosure on compliance with companies and allied matter Act(CAMA) of telecommunication companies in Nigeria. The study adopted ex-post facto research de...