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

السؤال

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 plus profit on an agreed deferred payment. In order to secure the Murabahah debt, the Islamic bank seeks from the customer to allow mortgage on the vehicle until all the installments are paid. In relation to the mortgage, Shariah guidance is sought on the following two aspects : Will the Islamic bank be considered as an owner of that vehicle since it is mortgaged to it ? Can the Islamic bank claim its ownership on the mortgaged vehicle in case of default and if so, to what extent ?

جواب الفتوى

أنقر هنالمشاهدة هذا المحتوى

الناشر

Islamic Finance News

تاريخ النشر

2015-06-10

دولة النشر

ماليزيا

التخصصات الرئيسية

العلوم الاقتصادية والمالية وإدارة الأعمال
الدراسات الإسلامية

نوع البيانات

فتاوى

لغة النص

الإنجليزية

رقم السجل

BIM-783014

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