تمويل شراء السيارات في مصرف الراجحي في ماليزيا: دراسة فقهية تقويمية

(Auto Mobile Financing in Al Rajhi Bank in Malaysia: A Juristic Evaluative Study)

Abstract

Abstract

Al Rajhi Bank in Malaysia offers car financing facility based on the bai' bi thaman 'ajil (deferred payment sale) through murābahah for the purchase orderer (al-amir bi al-syira') or through murabahah of commodity (tawarruq). The current practise is the murābahah for the purchase orderer. This product and the Syaria contract alongside with other items such as the ibra’ and the rest are criticised for being against the purposes of the Syariah. On the other hand, there are those who defend it; causing confusion among laymen to know the real Syariah’s position on the issue. This paper aims at addressing the issue by looking into the product and its mechanisms of implementation. It explains the extent of its compatibility with Syaria’ and its conformity with its purposes. This is done by generally describing, analysing, and assessing the product and its processes. The study follows the descriptive, analytical, and critical methods. Amon the significant conclusions of the study are; the current practise of car financing at Al Rajhi Bank is based on the principle of murābahah for the purchase orderer; its implementation at the bank is without the Syaria’ related issues that are still problematic at some other Islamic banks; at least its implementation was void of any points of contention between the scholars in the ruling of this product. Nevertheless, the are some other issues which need further discussion such as the inclusion of the contract of ibrā’ such as that there is a prior agreement between the customer and the bank.

Keywords: Financing, sale, cars, Al Rajhi Bank, murabahah for the purchase orderer.