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HOW FEASIBLE A CONVERTIBLE IJARAH CONTRACT FOR SME'S FINANCING: A SIMULATION APPROACH
Journal of Islamic Monetary Economics and Finance
Islamic financial institutions have relied for decades on margin-based contracts toprovide financing for the business sector, despite the basic idea that Islamic financeis expected to provide an equity-based or a profit and loss sharing (PLS) contract.This fact raises the need to encourage the use of a margin-based instrument with aninnovative scheme that allows for conversion of the contract into a PLS-based contract.Moreover, we propose a convertible ijarah contract to fill this need. Adoi:10.21098/jimf.v5i2.1070 fatcat:zfokzo2i25g73fndvotrxtz26u