FatwaPenangTransactions & Finance
PERLAKSANAAN SKIM PEMBIAYAAN BAI AL-INAH, KOPERASI MAJLIS BANDARAYA PULAU PINANG BERHAD
Can the Bai' Al-'Inah financing scheme of the Penang City Council Cooperative (Koperasi Majlis Bandaraya Pulau Pinang Berhad) be implemented?
Short answer
The Penang State Fatwa Committee agreed to the implementation of the Bai' Al-'Inah financing scheme on the basis of public interest (maslahah) for Muslims, despite differing scholarly views.
A reference, not a fatwa. First sentence of the summary below — read the original fatwa and consult your state authority before acting.
- Authority
- Penang State Mufti Department
- Date
- Status
- Fatwa committee decision
- Series
- Keputusan Fatwa Negeri Pulau Pinang (e-Fatwa)
- Topic
- Transactions & Finance
No evidence of gazettement in the source — this is not a gazetted fatwa.
Summary
The Penang State Fatwa Committee agreed to the implementation of the Bai' Al-'Inah financing scheme on the basis of public interest (maslahah) for Muslims, despite differing scholarly views. The Shafi'i school and part of the Hanafi school permit it if the conditions and pillars of sale are met, while the Maliki and Hanbali schools do not. The committee also noted that the form combining both contracts under a single signature was problematic, and proposed that the initial sale and the buy-back be placed in two separate forms.
Written in our own words from the original fatwa — check the source before acting on it.
Mesyuarat berpandangan, walaupun terdapat perbezaan pandangan di kalangan ulama berkaitan dengan Bai' Al-'Inah, namun mesyuarat bersetuju dengan Pelaksanaan Skim Pembiayaan Bai' Al-'Inah seperti yang dikemukakan berdasarkan maslahah kepada umat Islam.
Read the full fatwa on the Penang website (new tab)
How to cite
Cite the original fatwa and its authority. Rujuk Fatwa is only where you found it.
Penang State Mufti Department. “PERLAKSANAAN SKIM PEMBIAYAAN BAI AL-INAH, KOPERASI MAJLIS BANDARAYA PULAU PINANG BERHAD”, 5 December 2016. http://efatwa.penang.gov.my/fatwa_details.php?fatwaid=933. Found via Rujuk Fatwa: https://rujukfatwa.com/en/fatwa/penang-bai-al-inah-financing-scheme-cooperative/