Profit Sharing Ratio Modeling For Islamic Hire-Purchase Contract: Robust Optimization And Chance Constraint Approach

摘要

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.