CHALLENGES AND THE STEPS FORWARD TO THE APPLICATION OF IJARAH (LEASING) PRODUCTS OF JAIZ BANK PLC IN NIGERIA

  • Adeyemo Wale Lateef ,Universiti Sains Islam Malaysia
  • Dr. Syahirah Abdul Shukor Universiti Sains Islam Malaysia
  • Dr. Amalina Ahmad Tajudin Universiti Sains Islam Malaysia
DOI: https://doi.org/10.53555/bm.v3i5.1320
Keywords: Islamic Banking, Islamic Finance Institutions, Jaiz Bank Plc, Ijãrah, (leasing) products, Institutional challenges, operational challenges.

Abstract

The benefits of Islamic banking in the contemporary society cannot be overemphasized, especially if its operations are in line with Sharĩ‘ah. Meanwhile, one of the Jaiz Bank Plc products is ʼIjãrah (leasing). The application of ʼIjãrah (leasing) product of Jaiz Bank Plc is faced with many problems. The paper also provides the solutions to the problems. In doing this, the challenges confront Jaiz Bank Plc can be categorized into institutional and operational challenges, it benefits will outweigh the challenges, once the challenges are overcome. This paper also examines the principles of ʼIjãrah (leasing) products and how it is being structured by Sharĩ‘ah. The paper discusses that once the regulatory authorities address the framework, the operational challenges will be solved.

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Author Biographies

Adeyemo Wale Lateef, ,Universiti Sains Islam Malaysia

Faculty of Shariah and Law

Dr. Syahirah Abdul Shukor, Universiti Sains Islam Malaysia

Faculty of Shariah and Law

Dr. Amalina Ahmad Tajudin, Universiti Sains Islam Malaysia

Faculty of Shariah and Law

Published
2017-05-31
How to Cite
Wale Lateef, A., Abdul Shukor, D. S., & Ahmad Tajudin, D. A. (2017). CHALLENGES AND THE STEPS FORWARD TO THE APPLICATION OF IJARAH (LEASING) PRODUCTS OF JAIZ BANK PLC IN NIGERIA. IJRDO - Journal of Business Management, 3(5), 26-42. https://doi.org/10.53555/bm.v3i5.1320
Issue
Vol. 3 No. 5 (2017): IJRDO - Journal of Business Management
Section
Articles

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