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Concurrent Agency
Yes, the bank can appoint an agent for the purpose of both purchasing and taking delivery.
 
Single Agency For Different Operations
There is no legal impediment to granting agency to one person for purchasing and then selling.
 
Identifying Oneself As Agent
It is not a Shariah requirement that the agent specify at the time of purchase that he is serving as the bank's agent. However, for purposes of...
 
Agent And Surety
If the contract of agency is inclusive of both delivering goods and collecting the money paid for them, it will be lawful for the agent to be a...
 
Permissibility Of Not Informing Buyer Or Seller About Supplier
It is lawful for the agent to not disclose to the buyer or the seller the identity of the party from which the merchandise is bought and the party...
 
Agency For Bank
It is permissible for the bank to charge its clients an agency fee for managing their property that would include all the mentioned costs and...
 
General Terms Of Agency
An agency accepts conditions related to time, place, deeds, amounts and deadlines in addition to all other conditions agreed to between the...
 
Stipulating The Means Of Delivery
It is permissible for a principal to stipulate that an agent only use the principal's means of transport.
 
Settlement Of Price For Agent In Sale Or A Purchase
The setting of the price for an agent in a sale or a purchase is not a condition to the validity of the agency however, if the principal does...
 
Agency Rates For Bank
It is lawful for the bank to alter agency rates and make them effective from the date they are changed on the condition that the client is informed...
 


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