An Islamic bank’s customer has asked it to extend Murabahah financing for the purchase of a boat, which will be completed and delivered by the manufacturer after a year
Fatawa Question
An Islamic bank’s customer has asked it to extend Murabahah financing for the purchase of a boat, which will be completed and delivered by the manufacturer after a year. The customer will pay half of the 20 % down payment required by the manufacturer, and seeks the Islamic bank to pay the remaining 10 % now. The bank will also be required to pay 80 % of the purchase price upon completion of the boat. Can this transaction be undertaken on a Murabahah basis ?
Fatwa
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Publisher
Publication Date
2013-04-10
Country of Publication
Malaysia
Main Subjects
Economics & Business Administration
Islamic Studies
Data Type
Fatawa
Language
English
Record ID
BIM-784626
American Psychological Association (APA)
Hassan, Husayn Hamid. 2013-04-10. An Islamic bank’s customer has asked it to extend Murabahah financing for the purchase of a boat, which will be completed and delivered by the manufacturer after a year. . Kuala Lumpur Malaysia : Islamic Finance News.
https://search.emarefa.net/detail/BIM-784626
Modern Language Association (MLA)
Hassan, Husayn Hamid. An Islamic bank’s customer has asked it to extend Murabahah financing for the purchase of a boat, which will be completed and delivered by the manufacturer after a year. Kuala Lumpur Malaysia : Islamic Finance News. 2013-04-10.
https://search.emarefa.net/detail/BIM-784626
American Medical Association (AMA)
Hassan, Husayn Hamid. 2013-04-10. An Islamic bank’s customer has asked it to extend Murabahah financing for the purchase of a boat, which will be completed and delivered by the manufacturer after a year. Kuala Lumpur Malaysia : Islamic Finance News.
https://search.emarefa.net/detail/BIM-784626
