Editing Islamic banking and finance (section)

=====Bai' al 'inah (sale and buy-back agreement)=====
''Bai' al inah'' (literally, "double sale"<ref name="Kettell">{{cite book |last1=Kettell |first1=Brian |title=Frequently Asked questions in Islamic Finance |pages=299–304 |date=2010 |chapter=Index|doi=10.1002/9781118371923.index |isbn=9781118371923 }}</ref> or "a loan in the form of a sale"),<ref name="TaPoMIB">{{cite book|last1=Abu Umar Faruq Ahmad|title=Theory and Practice of Modern Islamic Finance: The Case Analysis from Australia|publisher=Universal-Publishers|page=308|url=https://books.google.com/books?id=wRlI0nJp5mEC&q=Bai%27+al+%27inah&pg=PA244|access-date=21 July 2015|isbn=9781599425177|year=2010}}</ref> 
is a financing arrangement where the financier/bank buys some asset from the customer on [[Spot market|spot]] basis, with the financier's payment constituting the "loan". The asset is then sold back to the customer who pays in installments over time, essentially "repaying the loan". Since loaning of cash for profit is forbidden in Islamic Finance, some scholars do not believe ''Bai' al 'inah'' is permissible in Islam. According to the Institute of Islamic Banking and Insurance, it "serves as a ruse for lending on interest",<ref name="ISBI-B">{{cite web |title=Glossary of Financial Terms – B |url=http://www.islamic-banking.com/glossary_B.aspx |website=Institute of Islamic Banking and Insurance |access-date=26 August 2015 |archive-url=https://web.archive.org/web/20150829025808/http://www.islamic-banking.com/glossary_B.aspx |archive-date=29 August 2015 |url-status=dead }}</ref> but ''Bai' al inah'' is practiced in Malaysia and similar jurisdictions.<ref>{{cite web |url=https://islamicbankers.me/islamic-banking-islamic-contracts/financing-commodity-murabaha-tawarruq/ |title=Financing : Commodity Murabaha & Tawarruq | website=Islamic Bankers Resource Centre | first1=Amir |last1=Alfatakh |date=11 June 2014 |access-date=18 August 2017}}</ref><ref>[http://www.azmilaw.com/Article/Article_8_&_9/Article_9_Tawarruq_00093603_.pdf The emergence of Islamic financing based on the Syariah concept of Tawarruq] |AZMI and Associates| 2008</ref>