The Application of Hibah in the Islamic Financial Services Industry in Malaysia: Towards A Shari'ah-Oriented Legal Framework

IRP91/2016
Pages: 41



Hibah (gift) is one of the major concepts used in the Islamic financial services industry to develop Sharīʿah-compliant products that are viable and competitive with conventional products. Even though hibah was originally a stand-alone contract in Islamic commercial jurisprudence, it is now commonly used as a supporting contract to supplement, enhance, and scale up other contracts such as muḍārabah, ijārah, takāful, wakālah, and wadīʿah. Hibah


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