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Insurance Cover On Goods Ordered Under Murabaha
Is it permissible for a bank acquiring goods as a seller in a Murabaha to obtain insurance cover on such goods?
It is permissible to obtain insurance cover on goods to be sold under Murabaha, though it is not necessary in the Shariah. However, if the applicable laws and regulations make it mandatory to insure the goods, the bank should comply accordingly. It should be noted that irrespective of whether insurance cover has been obtained or not, the bank (seller) is responsible for any damage to the goods prior to delivery to the buyer.

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