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Popular Islamic finance contract may eventually fall out of favour

Posted on 04 March 2009

From Btimes.com.my: A popular but disputed Islamic banking contract will eventually fall out of favour as financial markets strive for wider acceptance, syariah scholars said yesterday.

The bai bithaman ajil or deferred payment sale contract is the mainstay of Malaysia’s Islamic finance industry. But it is viewed with suspicion in the Middle East where some scholars say it is nothing more than an interest-based loan….. Full Article: Source

 
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