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Commission From Foreign Bank In Consideration Of Opening LC
A bank executing a purchase under a Murabaha contract opens documentary credit in a foreign bank and receives a commission. Should such a commission be given to the client or is the bank entitled to keep it?
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 from the principal amount per the provisions of the Murabaha contract. If the receipt of the commission is not declared by the bank, then the commission will be held to be the client's property.

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