A validation of profit sharing ratio determination mathematical model for Islamic hire-purchase contract

Nurfadhlina Abdul Halim, Saiful Hafizah Jaaman @ Sharman

Research output: Contribution to journalArticle

3 Citations (Scopus)

Abstract

This paper discusses the mathematics formulation of determining the profit sharing ratio for Islamic hire-purchase contract named Al-Ijarah Thumma Al-Bai' or AITAB. This paper presents an approach which maximizes the profits of the hire-purchase participating parties by implementing the fair profit sharing ratio determination mentioned in the profit sharing concept with stochastic optimization technique. Then the validation of the model is also given.

Original languageEnglish
Pages (from-to)2035-2046
Number of pages12
JournalApplied Mathematical Sciences
Volume7
Issue number41-44
Publication statusPublished - 2013

Fingerprint

Profit
Profitability
Sharing
Mathematical Model
Mathematical models
Stochastic Optimization
Optimization Techniques
Maximise
Formulation
Model

Keywords

  • Islamic hire-purchase instrument
  • Profit sharing ratio determination
  • Stochastic optimization

ASJC Scopus subject areas

  • Applied Mathematics

Cite this

A validation of profit sharing ratio determination mathematical model for Islamic hire-purchase contract. / Halim, Nurfadhlina Abdul; Jaaman @ Sharman, Saiful Hafizah.

In: Applied Mathematical Sciences, Vol. 7, No. 41-44, 2013, p. 2035-2046.

Research output: Contribution to journalArticle

@article{673240ee6f8c4edc8cebba0ba12aa478,
title = "A validation of profit sharing ratio determination mathematical model for Islamic hire-purchase contract",
abstract = "This paper discusses the mathematics formulation of determining the profit sharing ratio for Islamic hire-purchase contract named Al-Ijarah Thumma Al-Bai' or AITAB. This paper presents an approach which maximizes the profits of the hire-purchase participating parties by implementing the fair profit sharing ratio determination mentioned in the profit sharing concept with stochastic optimization technique. Then the validation of the model is also given.",
keywords = "Islamic hire-purchase instrument, Profit sharing ratio determination, Stochastic optimization",
author = "Halim, {Nurfadhlina Abdul} and {Jaaman @ Sharman}, {Saiful Hafizah}",
year = "2013",
language = "English",
volume = "7",
pages = "2035--2046",
journal = "Applied Mathematical Sciences",
issn = "1312-885X",
publisher = "Hikari Ltd.",
number = "41-44",

}

TY - JOUR

T1 - A validation of profit sharing ratio determination mathematical model for Islamic hire-purchase contract

AU - Halim, Nurfadhlina Abdul

AU - Jaaman @ Sharman, Saiful Hafizah

PY - 2013

Y1 - 2013

N2 - This paper discusses the mathematics formulation of determining the profit sharing ratio for Islamic hire-purchase contract named Al-Ijarah Thumma Al-Bai' or AITAB. This paper presents an approach which maximizes the profits of the hire-purchase participating parties by implementing the fair profit sharing ratio determination mentioned in the profit sharing concept with stochastic optimization technique. Then the validation of the model is also given.

AB - This paper discusses the mathematics formulation of determining the profit sharing ratio for Islamic hire-purchase contract named Al-Ijarah Thumma Al-Bai' or AITAB. This paper presents an approach which maximizes the profits of the hire-purchase participating parties by implementing the fair profit sharing ratio determination mentioned in the profit sharing concept with stochastic optimization technique. Then the validation of the model is also given.

KW - Islamic hire-purchase instrument

KW - Profit sharing ratio determination

KW - Stochastic optimization

UR - http://www.scopus.com/inward/record.url?scp=84875789096&partnerID=8YFLogxK

UR - http://www.scopus.com/inward/citedby.url?scp=84875789096&partnerID=8YFLogxK

M3 - Article

VL - 7

SP - 2035

EP - 2046

JO - Applied Mathematical Sciences

JF - Applied Mathematical Sciences

SN - 1312-885X

IS - 41-44

ER -