Profit sharing ratio modeling for islamic hire-purchase contract: Robust optimization and chance constraint approach

Halim, Nurfadhlina Abdul; Jaaman, Saiful Hafizah; Ismail, Noriszura; Ahmad, Rokiah
May 2012
AIP Conference Proceedings;5/22/2012, Vol. 1450 Issue 1, p55
Academic Journal
This paper presents an approach which maximizes the profits of Islamic hire-purchase contract named Al-Ijarah Thumma Al-Bai' or AITAB. Details of modus operandi for the AITAB contract and the optimization model for profit sharing ratio determination using stochastic programming is the result of this study.


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