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Ranking the Compliance of Islamic Banking Home Financing Products with Maqasid Shariah Using Ahp

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dc.contributor.authorSyahidawati Shahwanen_US
dc.contributor.authorSafeza Mohd Sapianen_US
dc.contributor.authorNorhazlina Ibrahimen_US
dc.contributor.authorMustafa Omar Mohammeden_US
dc.contributor.authorEhsanullah Aghaen_US
dc.contributor.authorThavamaran Kanesanen_US
dc.date.accessioned2024-05-29T02:26:52Z
dc.date.available2024-05-29T02:26:52Z
dc.date.issued2022
dc.date.submitted2023-1-30
dc.descriptionVolume: 14 Issue: 3en_US
dc.description.abstractCompliance of Islamic banking products with Maqasid Shariah has been a never-ending debate. However, most discussions are merely explorative, descriptive and perceptive in nature. This article aims to evaluate two types of home financing products in Malaysia based on the Maqasid Shariah of the product development process in Islamic banks. To provide a more coherent and concrete decision, the Analytic Hierarchy Process (AHP) has been used. Bay’ Bithaman Ajil (sale with deferred payment) and Tawarruq (monetization) have been chosen to represent sale-based financing and Musharakah Mutanaqiṣah (diminishing partnership) represents partnership-based financing. The overall results demonstrated that partnership-based financing complied with the social requirements of MSPDF (Maqasid Shariah-based product development framework) at 87.5%, while sale-based financing was rated at 12.5%. The findings will assist Shariah advisors, Islamic finance product developers, economic analysts, financial engineers and policymakers to incorporate the relevant Shariah objectives in Islamic financial product development.en_US
dc.identifier.citationShahwan, S., Sapian, S. M., Ibrahim, N., Mohammed, M. O., Agha, E., & Kanesan, T. (2023). RANKING THE COMPLIANCE OF ISLAMIC BANKING HOME FINANCING PRODUCTS WITH MAQASID SHARIAH USING AHP. International Journal of the Analytic Hierarchy Process, 14(3). https://doi.org/10.13033/ijahp.v14i3.891en_US
dc.identifier.doi10.13033/ijahp.v14i3.891
dc.identifier.epage21
dc.identifier.issn1936-6744
dc.identifier.issue3
dc.identifier.spage1
dc.identifier.urihttps://ijahp.org/index.php/IJAHP/article/view/891
dc.identifier.urihttps://www.scopus.com/record/display.uri?eid=2-s2.0-85148636592&origin=resultslist&sort=plf-f&src=s&sid=3f1868111a303d5a05d758a34d75371e&sot=b&sdt=b&s=TITLE-ABS-KEY%28Ranking+The+Compliance+Of+Islamic+Banking+Home+Financing+Products+With+Maqasid+Shariah+Using+Ahp%29&sl=151&sessionSearchId=3f1868111a303d5a05d758a34d75371e
dc.identifier.urihttps://oarep.usim.edu.my/handle/123456789/10645
dc.identifier.volume14
dc.language.isoen_USen_US
dc.publisherCreative Decisions Foundationen_US
dc.relation.ispartofInternational Journal of the Analytic Hierarchy Processen_US
dc.subjectIslamic finance; product development; Maqasid Shariah; sale-based product; partnership-based producten_US
dc.titleRanking the Compliance of Islamic Banking Home Financing Products with Maqasid Shariah Using Ahpen_US
dc.typeArticleen_US
dspace.entity.typePublication

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