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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
a)...