A Study the Bai al-Inah as Practised by the Bank Rakyat from the Syariah Perspective

Abstract

The writer's research on the "Bai al-Inah a banking system introduced by Bank Rakyat "2003. Bai al-inah means a method of selling a property for the purpose of reselling the same property in cash terms to the buyer at an agreed higher price between the bank and the purchaser of the property. Muslim Scholars have been in disagreement on the pros and cons on this banking system. This research will look into the effectiveness on the implementation of this banking system and other matters relation to its implementation. In order to obtain the data, the writer held interview sessions with the relevant bank officers at Bank Rakyat and went through the related documents and brochures on Bai al-inah banking system.