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Question: A customer has sought a financing facility from an Islamic bank in order to procure a running commercial property from a third-party seller. Since the commercial property may have various types of businesses, Shariah guidance is required on how to ....

Donor award: Liquidity Management Centre (Manama, Bahrain)
Source : Annual Report. Vol. (2015), pp.1-106, 106 p.

Subjects: Bahrain; Corporate governance; Liquidity Management Centre

Question: -.

Subjects: Banking; Islam; Islamic Banks; Islamic jurisprudence; Religious aspects

Donor award: Islamic Corporation for the Development of the Private Sector (Jiddah, Saudi Arabia)
Source : Annual Report. Vol. (2015), pp.1-94, 94 p.

Subjects: Corporations; Islamic Corporation for the Development of the Private Sector; Kuala Lumpur; Social responsibility

Donor award: al-Salam Bank Bahrain (Manama, Bahrain)
Source : Annual Report. Vol. (2015), pp.1-132, 132 p.

Subjects: Bahrain; Corporate governance; al-Salam Bank

Donor award: Safwa Islamic Bank (Amman, Jordan).
Source : Annual Report. Vol. (2015), pp.1-194, 194 p.

Question: -.

Subjects: Business; Financing; Products; Resale on profit

Question: A corporate entity, which is a customer of an Islamic bank, had deposited an amount in a term deposit account for a period of three years on the basis of Mudarabah. However, upon completion of one year it has decided ....

Question: An Islamic bank has a standard auto finance product for its customers. The product is based on the Murabahah structure under which the Islamic bank purchases the vehicle from the dealer and sells it to the customer on its cost ....

Question: An Islamic bank has approved a Mudarabah facility for a customer whereby the customer will receive Mudarabah capital from the bank for investment in Shariah compliant business activities and the realized profit shall be distributed between the Islamic bank and ....

Question: A customer of an Islamic bank is a company engaged in import and supply of food and grocery items to the big outlets / supermarkets all over the country. The standard Murabahah financing structure to finance the procurement of the ....

Question: An Islamic bank has raised the following query.A financing facility has been approved for a customer, whereby it was allowed to utilize the facility through multiple Murabahah transactions under the facility limit during the facility period.Under each Murabahah transaction, the ....

Question: An Islamic bank has raised the following query.Sometimes the Islamic bank receives requests from some of its customers to include in Murabahah financing some components other than the cost of the goods, such as shipping charges, import duty, inspection charges, ....

Question: Shariah guidance is sought if the Islamic bank is allowed to charge a fee in case of issuance of a letter of credit (LC), whether the goods under the LC are to be financed by the Islamic bank or the customer shall pay cash for them..

Question: As part of banking services, an Islamic bank offers issuance of various types of letters of guarantee against a fee. Such letters of guarantee are issued based on a request from the bank’s customer.The letter of guarantee has a validity ....

Question: An Islamic bank has in its array of retail products, auto financing for its individual customers.The product is based on the Murabahah structure whereby the bank, based on the ‘promise to purchase’ from its customer, purchases the vehicle from the ....

Question: An Islamic bank has planned to launch a draw scheme for all of its current customers availing financing facilities from the bank. The subject matter of the draw will be 24-carat gold coins of a certain weight. The bank will ....

Donor award: al-Salam Bank (Algeria)
Source : Annual Report. Vol. (Mar. 2015), pp.1-49, 49 p.

Subjects: Algeria

Question: The following query has been raised in order to get Shariah guidance.An Islamic bank’s management has approved a financing facility to its customer (a trading company) subject to the company providing acceptable security. The purpose of the facility is to ....

Question: The following query has been raised in order to get shariah guidance.Can an Islamic bank obtain cash deposit as security for a customer’s financial obligation towards the bank under various financing facilities extended by the bank to the customer ?.

Question: An Islamic bank has launched a product based on Salam in order to provide cash finance for its retail and corporate customers.As per the product structure, the customer will sell to the Islamic bank a certain quantity of a described ....

Question: An Islamic bank has launched a product based on Salam in order to provide cash finance for its retail and corporate customers.As per the product structure, the customer will sell to the Islamic bank a certain quantity of a described ....

Question: Islamic bank a and Islamic bank b had extended a club financing facility to an airline (the customer). The financing was under the Murabahah structure, as the banks had purchased an aircraft from the manufacturer company and sold it to ....

Question: A customer of an Islamic bank is a main contractor of a big development project. It has decided to hire a subcontractor for land leveling and grading.Since the payments under the agreement with the subcontractor were proposed to be made ....

Question: A customer has approached an Islamic bank for financing of renovation of its chain of outlets. The scope of work includes renovation of interiors, fit out, furniture and lighting, etc.Shariah guidance has been sought in order to find a suitable Shariah compliant structure to finance the renovation..

Question: In order to finance purchase of goods under letters of credit (LC), an Islamic bank adopts a Murabahah structure with the following modus operandi :The customer submits the LC request along with a promise to purchase from the bank through ....

Question: The following query has been raised in relation to the Murabahah financing of usance letters of credit (usance LCs).It is easier to conclude the Murabahah contract if the currency of the lc and Murabahah are the same, such as usance ....

Donor award: Islamic Corporation for the Development of the Private Sector (Jiddah, Saudi Arabia)
Source : Annual Report. Vol. (2014), pp.1-88, 88 p.

Subjects: Islamic Corporation for the Development of the Private Sector; Kuala Lumpur

Donor award: Liquidity Management Centre (Manama, Bahrain)
Source : Annual Report. Vol. (2014), pp.1-108, 108 p.

Subjects: Corporate governance

Question: A service agreement is to be signed between an Islamic bank and a service provider company.The service to be rendered is the collection and deposit of cash on a daily basis from and to different branch locations, as per the ....

Question: An Islamic bank has launched a product based on a financial lease, Ijarah Muntahiya Bittamlik. The purpose of the product is to finance the procurement of residential and commercial buildings by its customers.The modus operandi of the product is as ....

Question: An Islamic bank has launched a product in order to finance various types of Shariah compliant business activities. The product is based on a Mudarabah structure and operates as follows :-Along with the application form, the customer submits a Mudarabah ....

Question: An Islamic bank has been using an Istisnah and parallel Istisnah structure to finance the construction of residential as well as commercial buildings ;The structure operates as follows :The Islamic bank enters into an Istisnah agreement with the customer whereby ....

Question: An Islamic bank has launched a product after getting it approved by the bank’s Shariah board for financing the construction of residential villas for its individual customers.Following are the main features of the product :Customer submits the complete specifications of ....

Question: Two foreign currency exchange transactions were executed between two Islamic banks located in two different countries. The transactions were in two different currencies and their execution was as follows :At the request of one of its customers, Islamic bank a ....

Question: While preparing a manual for vehicle financing through a Murabahah structure, an Islamic bank wanted to adopt a provision of security deposit. This is an amount deposited by the customer at the time of submission of the Murabahah application and ....

Question: An Islamic insurance (Takaful) company has raised the following query seeking Shariah guidance :The Takaful company in the subject year had a number of policyholders filing claims under their relevant Takaful policies, either seeking indemnity against the agreed Takaful events ....

Question: An Islamic brokerage company has raised the following query seeking Shariah guidance;Pursuant to the initial public offering (IPO), a new company has been established with an aim to carry out Shariah compliant business activities as stated in the company documents ....

Question: An Islamic bank (as Rab-Ul-Maal) extended a Mudarabah facility to a customer (as Mudarib) for investment in his trade business. The facility was disbursed pursuant to the entry into the Mudarabah agreement and the Mudarabah capital was invested by the ....

Question: During the recent economic crisis, an Islamic bank faced a number of defaults in financial commitments by its clients. As a result, the Islamic bank is required to allocate a part of the current income as provision for bad and ....

Question: An Islamic bank is preparing to launch home finance product for its customers.The product is based on Ijarah Muntahiya Bittamlik (financial lease), through which the bank will purchase the property from the market and lease it to the customer. The ....

Question: Shariah guidance has been sought by an Islamic bank in relation to pledge or mortgage against auto Murabahah liability. Also, if it is permissible, what shall be the treatment of insurance proceeds in case of total damage to the mortgaged vehicle ?.

Question: A group of conventional and Islamic participating banks entered into a syndication to provide financing for a large project through an Islamic facility to be provided through an Islamic bank acting as an investment agent.Although the majority of the participating ....

Question: -.

Subjects: Banking services; Islamic jurisprudence; Leasing leading to proprietorship; ٌLeasing

Question: An Islamic bank has issued a Murabahah-based documentary letter of credit (LC). The LC was based on a proforma invoice issued by the supplier containing description, quantity and price of the goods besides shipment date. The LC documents have been ....

Question: An Islamic bank is planning to launch a retail product to fulfill the personal finance needs of its customers. The product is based on the Salam contract.Shariah guidance is required as to whether it is permissible for the Islamic bank ....

Question: Shariah guidance is sought as to whether it is permissible for an Islamic bank to accept funds from a conventional bank in order to invest the same along with its common investment pool..

Question: A customer previously obtained an Ijarah facility (financial lease) from an Islamic bank in order to procure a building. The tenor of the facility was 20 years.During the term of the facility, the customer requested the bank to allow for ....

Question: A customer previously obtained an Ijarah facility (financial lease) from an Islamic bank in order to procure a building. The tenor of the facility was 20 years.During the term of the facility, the customer requested the bank to allow for ....

Question: -.

Subjects: Financing; Forward buying; Islamic jurisprudence; Sales