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Guaranteeing For Conventional Bank
It is not permissible for an Islamic bank to guarantee equipment, buildings or contracts for any form of work a client intends to do for a...
It is not permissible for an Islamic bank to guarantee equipment, buildings or contracts for any form of work a client intends to do for a...
Guarantees From Conventional Banks
It is not permissible for an Islamic bank to request its client to present a guarantee from a conventional bank.
It is not permissible for an Islamic bank to request its client to present a guarantee from a conventional bank.
Charging For Guarantee
It is unlawful to charge a fee for providing a guarantee. If providing the guarantee actually incurs cost, such as for services, it is lawful to...
It is unlawful to charge a fee for providing a guarantee. If providing the guarantee actually incurs cost, such as for services, it is lawful to...
Fees In Proportion To Value
It is not lawful to charge a fee for issuing a letter of guarantee since it is a contract for which compensation is not taken. It is permissible...
It is not lawful to charge a fee for issuing a letter of guarantee since it is a contract for which compensation is not taken. It is permissible...
Fees For Suretyship And Agency
A letter of guarantee covers both suretyship and agency. It is not lawful to charge a fee for suretyship however it is permissible to charge a fee...
A letter of guarantee covers both suretyship and agency. It is not lawful to charge a fee for suretyship however it is permissible to charge a fee...
Fees In Proportion To Amounts Guaranteed
It is not lawful to take a fee for merely providing a guarantee, however, it may be charged in return for actual services like the preparation of...
It is not lawful to take a fee for merely providing a guarantee, however, it may be charged in return for actual services like the preparation of...
Percentage Based Fees
It is not permissible for the bank to charge a percentage-based fee for letters of guarantee or documentary credit. It is lawful, however, for it...
It is not permissible for the bank to charge a percentage-based fee for letters of guarantee or documentary credit. It is lawful, however, for it...
Guarantors are not obliged to fulfill a contract on behalf of an obligor unable to do so if either:
1) the obligation is not yet due,...
Voluntary Guarantee In Mudarabah
It is not permissible for the manager to guarantee the capital investment in a Mudarabah because he cannot be held responsible for the loss of...
It is not permissible for the manager to guarantee the capital investment in a Mudarabah because he cannot be held responsible for the loss of...
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