Customer’s perception towards Bay’ Inah personal financing / Mohamad Nazrin Abdul Rahman

Islamic banking industry has introduced a Shariah-compliant products since it began operating around 1980's. One of the successful products that interest and has helped customers in ensuring comfort of living is a Bai Inah personal financing. There are several reasons which might influence the customers using this scheme as to obtain financing for education, marriage, their own investments, or to perform the pilgrimage in Mecca. However, lately, there has been doubt in the concept of Bai Inah applied in this Bai Inah personal financing. This is because, most of the Islamic banking abroad are more likely to use the concept of tawarruq 'to be applied in personal financing. They claimed that the concept of tawarruq’ is more suitable to be applied in personal financing. Therefore, the researcher interested to evaluate the customers' perception towards Bai Inah personal financing and to identify if the concept of Bai Inah is still convenience to be applied in this scheme. As a result from the survey of questionnaires that were filled by the bank's customers, it can be concluded that customers still agree with the concept of Bai Inah applied in personal financing. This indicates that customers are still satisfied with the Bai Inah personal financing schemes and it shown that this scheme is still acceptable by Islamic banks in Malaysia.