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Ownership Transfer and Shari’ah Issues in HPSM

In: Hire Purchase Under Shirkah al-Milk (HPSM) in Islamic Banking and Finance

Author

Listed:
  • M. Kabir Hassan

    (University of New Orleans)

  • Muhammad Mostofa Hossain

    (University of Malaya)

  • Aishath Muneeza

    (International Centre for Education in Islamic Finance (INCEIF University))

Abstract

This chapter extensively examines the Shari’ah considerations that arise during the application of HPSM. It is structured into distinct sections, each addressing specific Shari’ah issues. These sections encompass topics such as the transfer of ownership within HPSM, the implications of conditional sales within Shari’ah, the legal status of wa’d (promise) in HPSM, the presence of dual contracts within HPSM applications, and the Shari’ah aspects of dual contracts in a single transaction. By delineating these comprehensive sections, the chapter aims to offer readers an in-depth comprehension of the diverse Shari’ah intricacies that are interconnected with the practical implementation of HPSM. It serves as a valuable resource for fostering a profound understanding of the nuanced Shari’ah dimensions that underlie the execution of HPSM transactions.

Suggested Citation

  • M. Kabir Hassan & Muhammad Mostofa Hossain & Aishath Muneeza, 2023. "Ownership Transfer and Shari’ah Issues in HPSM," Springer Books, in: Hire Purchase Under Shirkah al-Milk (HPSM) in Islamic Banking and Finance, chapter 0, pages 141-168, Springer.
    • Handle: RePEc:spr:sprchp:978-3-031-50105-0_7
    DOI: 10.1007/978-3-031-50105-0_7
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