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Commission From Foreign Bank In Consideration Of Opening LC
The bank should, first of all, notify the client of such a commission. If it is agreed with the client that the bank is entitled to receive the commission, the amount of commission is deducted ...
 
Importing Goods In Name Of Buyer In Murabaha Contract
A Murabaha transaction is one in which the seller buys goods requested by the buyer and sells them to the buyer at a cost plus an agreed upon mark-up. It is necessary that the goods be dispatched or shipped in the name of the bank, as this is an integral of the contract and the only docume...
 
Unregistered Property Sold Under Murabaha
It is permissible to sell the asset in such a circumstance. The buyer may get the asset registered direct...
 
Murabaha Sale Of Goods Not Bought By Seller
The described transaction is not a valid Murabaha transaction and, furthermore, is unlawful in the Shariah. A Murabaha entails selling a particular commodity that the seller owns, disclosing ...
 
Collusion Between Buyer And Owner Of Goods In A Murabaha
The transaction described in the question is not permissible, as it amounts to an interest-based financing by the bank. If...
 
Promising Buyer Having Previous Contract With Owner Of Goods
Dealing with a client who has a previous contract with the owner of the goods depends on the nature of such a previous contract. If the contract is a general agreement and does not cover a specific transaction, then a Murabaha may be entered into. If, however, the contract is f...
 
Financing Construction Under Murabaha
Murabaha is a contract of sale in which the owner of an asset sells the asset to the buyer at a known mark-up. The transaction described does not f...
 
Liability Of Bank As Regards Goods To Be Sold Under Murabaha
The liability of the bank as regards goods to be sold under a Murabaha contract ends once the goods are delivered to the client. In...
 
Master Murabaha Facility Agreement
If what is meant is the Agreement available at www.EthicaInstitute.com, in section 2.01 it says "Upon receipt by the Institution of the Client's Purchase Requisition advising the Institution to purchase ...
 
Profit Recognition In Murabaha
Since Murabaha is a cost-plus sale, profits are measurable and known at the contract date. Therefore, it is permissi...
 
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