Bai Inah

Bai``Inah

(Shariah Requirements and Optional Practices)

Exposure Draft

Issuance date: 6 December 2013

BNM/RH/CP 028-2

Islamic Banking and Takaful

Department

Bai` `Inah (Shariah Requirements

and Optional Practices)

Exposure Draft

Table of Contents

PART A

Overview ........................................................................................ 1

1.

2.

Applicability .................................................................................. 1

3.

Legal provisions ........................................................................... 1

4.

Effective date................................................................................ 1

5.

Interpretation ................................................................................ 2

6.

PART B

Objective ...................................................................................... 1

Related legal and policy document ............................................... 2

Definition and nature of bai` `inah ............................................... 4

7.

8.

PART C

Definition ...................................................................................... 4

Nature .......................................................................................... 4

Components of bai` `inah ............................................................. 5

9.

10.

Asset .......................................................................................... 6

11.

Price ........................................................................................... 8

12.

PART D

Contracting parties ....................................................................... 5

Requirements of the bai` `inah arrangement............................... 10

Arrangement of bai` `inah with other contract or concept ...... 12

13.

Arrangement of bai` `inah with assurances ................................. 12

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