LEADER 04937nam 22005895 450 001 9910831008303321 005 20251009094200.0 010 $a9783031501050 010 $a3031501055 024 7 $a10.1007/978-3-031-50105-0 035 $a(MiAaPQ)EBC31129481 035 $a(Au-PeEL)EBL31129481 035 $a(DE-He213)978-3-031-50105-0 035 $a(CKB)30315122500041 035 $a(EXLCZ)9930315122500041 100 $a20240202d2023 u| 0 101 0 $aeng 135 $aurcnu|||||||| 181 $ctxt$2rdacontent 182 $cc$2rdamedia 183 $acr$2rdacarrier 200 10$aHire Purchase Under Shirkah al-Milk (HPSM) in Islamic Banking and Finance $eA Shari'ah Analysis /$fby M. Kabir Hassan, Muhammad Mostofa Hossain, Aishath Muneeza 205 $a1st ed. 2023. 210 1$aCham :$cSpringer Nature Switzerland :$cImprint: Palgrave Macmillan,$d2023. 215 $a1 online resource (238 pages) 311 08$aPrint version: Hassan, M. Kabir Hire Purchase under Shirkah Al-Milk (HPSM) in Islamic Banking and Finance Cham : Springer International Publishing AG,c2024 9783031501043 320 $aIncludes bibliographical references and index. 327 $aChapter1. Historical Development and Shari?ah Permissibility of Hire Purchase under Shirkah al-Milk (HPSM) in the Islamic banking and finance industry. Chapter 2. SHIRKAH: ThE First Essential Contract in HPSM -- Chapter 3. IJARAH: The Second Essential Contract IN HPSM -- Chapter 4. Sale: The final Essential Contract in HPSM -- Chapter 5. Operational Procedure of HPSM -- Chapter 6: Ownership Transfer Methods and Shari?ah Issues Related to the Application of HPSM -- Chapter 7: The Other IJARAH and SHIRKAH Contracts in Modern Islamic Finance.-Chapter 8: Hybrid Contracts and Their Underlying Issues in Islamic Finance -- Chapter 9: Conclusion. 330 $aHPSM is a modern financial contract that comprises shirkah (partnership), ijarah (lease), and sale contracts. In the HPSM contract, ownership of the asset is jointly held by the bank and the client. The client makes regular instalments. During the contract, the client is granted to use the asset as long as he meets specific conditions. Upon the completion of all instalments, the asset becomes the property of the client. This book seeks to shed light on the fundamental concept of HPSM, including the policies, regulations, and subsidiary contracts that play a vital role in its practical application. It provides a thorough exploration of the documentation and accounting procedures, while also addressing potential Shari?ah-related issues in HPSM, and will be of potential interest to students, researchers, policymakers and practitioners, offering a comprehensive understanding of how HPSM is applied within the Islamic finance industry. M. Kabir Hassan is Professor of Finance in the Department of Economics and Finance at the University of New Orleans, USA. He holds four endowed Chairs? Hibernia Professor of Economics and Finance, Hancock Whitney Chair Professor in Economics, Bank One Professor in Business I, and Bank One Professor in Business II. He is Financial Economist with consulting, research, and teaching experiences in development finance, money and capital markets, Islamic finance, corporate finance, investments, monetary economics, macroeconomics, Islamic banking and finance, and international trade and finance. Muhammad Mostofa Hossain is pursuing his Ph.D. from the Department of Fiqh and Usul at the University of Malaya, Malaysia. He has been awarded the best conference presenter and excellent paper classification at several international academic conferences. Before that, he was awarded several local and international scholarships, among them a Fulbright Scholarship by the Egyptian government to pursue his bachelor at Al-Azhar University, Egypt. Aishath Muneeza is Professor and Associate Dean for students and internationalization at INCEIF, Malaysia, known as the global university of Islamic finance. She has served as first female Deputy Minister of the Ministry of Islamic Affairs in the Maldives. . 606 $aInternational finance 606 $aFinancial services industry 606 $aIslam$xStudy and teaching 606 $aInternational Finance 606 $aFinancial Services 606 $aIslamic Studies 615 0$aInternational finance. 615 0$aFinancial services industry. 615 0$aIslam$xStudy and teaching. 615 14$aInternational Finance. 615 24$aFinancial Services. 615 24$aIslamic Studies. 676 $a346.072 700 $aHassan$b Kabir$01629374 702 $aMostofa Hossain$b Muhammad 702 $aAishath Muneeza 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a9910831008303321 996 $aHire Purchase under Shirkah Al-Milk (HPSM) in Islamic Banking and Finance$94048746 997 $aUNINA