Browse one of the world's largest database of Islamic finance Q&As available online.
Search Results
Assigning Ownership Of Murabaha Goods
One should have a scholar look at the documentation for the specific transaction to ensure that it is AAOIFI-compliant and one should also ensure...
One should have a scholar look at the documentation for the specific transaction to ensure that it is AAOIFI-compliant and one should also ensure...
It is permissible in the Shariah for a bank to appoint a shipping company as its agent to receive imported goods that are to be sold under a Murabaha.
Appointment Of Bank As Agent On Behalf Of Client
It is permissible for a bank's client to grant agency to the bank or any of its employees to conclude a Murabaha transaction between the bank and...
It is permissible for a bank's client to grant agency to the bank or any of its employees to conclude a Murabaha transaction between the bank and...
It is permissible for the buyer to appoint an agent to act on his behalf.
Selling Asset To Insolvent Client
In case the seller comes to know of a client's insolvency before delivery of the asset he has the right to withhold delivery.
In case the seller comes to know of a client's insolvency before delivery of the asset he has the right to withhold delivery.
Selling Endowments (Waqf) Under Murabaha
It is not permissible to sell endowments in the Shariah since they are not owned by any specific person, and for a sale to be valid a seller must...
It is not permissible to sell endowments in the Shariah since they are not owned by any specific person, and for a sale to be valid a seller must...
Financing Labor Cost Under Murabaha
It is impermissible to finance the cost of labor under a Murabaha. For such a financing, other permissible methods such as a Musharakah or a...
It is impermissible to finance the cost of labor under a Murabaha. For such a financing, other permissible methods such as a Musharakah or a...
The client may reject such goods, as it is the right of the buyer to reject goods due to a defect in them.
Commission To Murabaha Client In Event Of Agency
In such an event, the bank may pay its client agency commission in cash and add its value to the price of goods to be sold. The profit of the...
In such an event, the bank may pay its client agency commission in cash and add its value to the price of goods to be sold. The profit of the...
Amending Murabaha Contract
It is permissible in the Shariah to amend the Murabaha contract prior to its execution with the consent of both parties. However, unilateral...
It is permissible in the Shariah to amend the Murabaha contract prior to its execution with the consent of both parties. However, unilateral...
Disclaimer: Although care has been taken in preparing the information contained in this Q&A database, Ethica Institute of Islamic Finance cannot guarantee the accuracy thereof. Anyone using the information does so at their own risk and shall be deemed to indemnify Ethica Institute of Islamic Finance from any and all injury or damage arising from such use. One should double check with a qualified scholar to see whether the Q&A applies to one's particular situation.
ASK AN ISLAMIC FINANCE QUESTION
Each question is reviewed by an Islamic finance expert and approved by a scholar.
