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BAI BITHAMAN AJIL (BBA)

GROUP NAME :-

MOHD FAZLAN BIN AHMAD FAUZI 62289113548
DHIYA NURLIYANA BINTI TOHIRAN 62289113699
NAZATUL NATASHA BINT MD YASIN 62289113543
NUR ALIA BINTI ARZALI 62289113892
WAN NURFATIHAH BINTI WAN SUHAIMI 62289113559


BBA - INTRODUCTION
BBA is predominant concept for Islamic home
financing currently in Malaysia.
BBA has been practice by almost all financial
institutions in this country since it was implemented
by BIMB in 1983.
BBA practiced in Malaysia is seen not to be in
compliant with the shariah principles as the bank
does not take the risk of ownership and liability on
the property.
BBA is not acceptable by international scholars.

LEGALITY OF BBA
O you who believe! Whenever you give or take credit for a stated term, set it
down in writing (Al-Baqarah 2:282)
O you who believe! Eat not up your property among yourselves in vanities: not
even by way of trade based in mutual consent (An0Nisaa 4:29)
It was reported that the prophet S.A.W had bought some food from a Jew on a
credit basis (with a delayed payment) and he pledged to him his steel armor.
The legality of BuyNasiah (BBA) in this hadith indicates the legality of
BuyTaqsit (sale trough installment payment) since this type of sale actually a
sale with differed payment of the price.
DEFINITION
BBA is a sale contract in which the
payment of the price payable at a
certain particular time in the future.
BBA
Al Bay
(SALE)
Ajil
(deferment)
Bithaman
(with price)

SCOPE OF FINANCING
MODUS OPERANDI BBA
MODUS OPERANDI
Step 1 - Customer identifies the asset to be
purchased.
Step 2 Maybank, as agreed by the customer ,
purchases the qualified asset from the owner.
Step 3 Maybank sells the asset to financing
customer.
Step 4 financing customer repays the selling
price by the installment per month.
LEGAL DOCUMENTATION
ISSUES ON BBA
Balance for early settlement is high
- High compared to conventional loan
- High amount being a burden to customer.
Bank holds no such liability
- Customer my claim for defect and proceed the
contract or cancel the contract.
- Based on the given rules a khiyar Ayb , it is apparent
that an Islamic bank as a selling party must hold all
liability arising from all defective goods sold.

OBJECTIVE
To provide financing for potential buyer that
enable to fulfill responsibility without
hardship.
Aimed at permitting individual to acquire asset
without involve any interest.
To smooth the progress of transaction.

ISSUES ON BBA
BBA financing : selling of the non-existent
- BBA financing in Malaysia is applied over
property under construction & completed
property.
- Financing for house under construction is not
allowed since the subject matters is not existent
(majority of jurist).
VIEW FROM MAJOR SCHOLARS
Shaykh Ahmad Kutty, Dr. Yusuf AI-Qaradawi and Dr. Monzer Kahf,5
among other contemporary scholars, allowed the installment sale. In their views,
it is a necessity for the people and without allowing the installment sale it would
put the hardship on them in performing their everyday life activities, and that
is contrary to the Qur'anic verse stating " ... Allah intends every facility for
you He does not want to put you to difficulties ... " (AI-Qur'an, al-Baqarah:
185). Furthermore, the Holy Qur'an says: "And strive in His cause as ye ought
to strive (with sincerity and under discipline): He has chosen you and has
imposed no difficulties 011 you in religion ... "

CONCLUSION
The conventional system focuses primarily on the
economic and financial aspects of transactions the
Islamic system places equal emphasis on the ethical
,moral, social and religious dimension to ensure fairness
to both contracting parties and the society as a whole.
Therefore in BBA contract the asset here must be clearly
identified and must be in existence.
For the purchase of house to be constructed there should
be other alternative Islamic banking product introduced
such as musharakah mutanaqisah or other method of
financing which can further reduce and eliminate the
principle ghrr in the contract.