Like Murabaha`s loan, we are trying to give a very brief and fundamental introduction to certain aspects of this type of credit compared to a traditional bank credit: the second scenario is whether you are asking whether it is the finalization and termination of the contract itself, that is, debts incurred after the transaction. In a Murabahah commodity, all transactions are concluded and concluded, with the exception of Murabawa`s debt. The completion of Murabahah`s debt means that Murabahah`s commitments will be concluded and concluded as soon as the sale price is fully settled, as agreed. It has nothing to do with the goods anymore, because all that remains is the debts of the transaction. On the other hand, the termination of the debt is usually linked to late payments for which there is a breach of contract. This means that Murabahah`s debts will be accelerated and all payments or outstanding profits and capital will be immediately due for settlement. For example, say that a manufacturer wants to buy wood worth $100,000, but they do not have enough money. The manufacturer went to the bank and signed an agreement to buy the wood from the bank at a cost ($100,000) plus profits (perhaps 20 percent of the contract amount, or $20,000). I also had my team design our own Tawarruq CASA, so I can`t reveal much right now. But I try to summarize what other banks (usually) do with their CASA Tawarruq: 1) A customer opens a CASA Tawarruq account. The client has also signed a Wakalah document (agency) which states that if the client is invested in money, he authorizes the bank as his agent to buy goods for the purposes of tawarruq 2) client banks in certain funds 3) At a certain reference time, the bank extracts report to find out if it is necessary to buy goods.

4) If so, the bank will take funds to buy goods. This happens either on the same day or T-1, depending on the authorized receptions. 5) The bank continues to buy goods with a day of Aqad or 30 days Aqad. 6) If the bank has chosen 1 day Aqad, the bank will buy and trade the goods on the basis of the balance sheet of the EOD daily 7) If the bank chose 30 days Aqad, it will buy the bank and negotiate the goods on the basis of EOD on the net deposit amount each month 8) Whenever an Aqad is concluded, the profit is accumulated and recorded at the end of mandate 9) On the agreed date, the profit of the tawarruq is paid. 10) The arrangement includes the automatic renewal of Wakalah and instructions for the purchase and sale According to Islamic banker Harris Irfan, this complication “did not convince the majority of scholars that this series of transactions is valid in Sharia law.” [60] [Note 5] Since the purchase and sale of the products in Tawarruq has not achieved a functional purpose, banks/financials are strongly tempted to forego it. Islamic scholars have found that although there have been “billions of dollars of tawarruq transactions based on raw materials,” there has been no consistent value of the traded product. [62] The IMF notes that “tawarruq has become controversial among Shari`ah scholars because of its deviation from its use in relation to the spirit of Islamic finance.” [8] But some eminent scholars have tolerated the goods murabaha “for the growth of the [Islamic finance] industry. [6] Irfan states that the Sharia boards of some banks (such as the Abu Dhabi Islamic Bank) take a stand against Tawarruq (at least from 2015) and have “looked towards more “pure” forms of financing (such as Mudarabah).

[63] In order to “counter the clear violation of the spirit of the Riba ban,” some banks demanded the complication (and cost) of two additional raw material masons in addition to the client and financier. [56] [64] There have been attempts to introduce a more acceptable mode for trade in goods, such as the introduction of Bursa Malaysi`a Bursa Suq Al Sila to make the process of ownership and transaction of a commodity more transparent, but the question remains how long this structure will be acceptable to scholars.

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