The most popular type of financing
Reference in many classical fiqh books shows that
sale with deferred kind of payment is also known
-Taqsit: Sale with installment payment
-Muajjal: Sale with deferred payment. sale. TheMajallah (mainly Hanafi-bases codification) refers toBBA as Bay' al-Muajjal. This term is employed inPakistan and Bangladesh.
-Nasiah: Sale with delayed payment
-Aajil: Deferred sale
In the Middle East, a similar practice is used under
the term Murabahah. However, in Malaysia bothterms refer to two different products.