Islamic bank a and Islamic bank b had extended a club financing facility to an airline (the customer)
Fatawa 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 the customer. The Murabahah sale price had to be paid by the customer in monthly installments throughout the financing period. Meanwhile, for the purpose of liquidity management, Islamic bank a has decided to exit from the financing, and has proposed to Islamic bank b to purchase the Murabahah receivables from it on a discounted price payable on the spot. Islamic bank b has no objection from a commercial perspective. However, Shariah guidance is sought in this regard.
Fatwa
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Publisher
Publication Date
2015-02-25
Country of Publication
Malaysia
Main Subjects
Economics & Business Administration
Islamic Studies
Data Type
Fatawa
Language
English
Record ID
BIM-783054
American Psychological Association (APA)
Hassan, Husayn Hamid. 2015-02-25. Islamic bank a and Islamic bank b had extended a club financing facility to an airline (the customer). . Kuala Lumpur Malaysia : Islamic Finance News.
https://search.emarefa.net/detail/BIM-783054
Modern Language Association (MLA)
Hassan, Husayn Hamid. Islamic bank a and Islamic bank b had extended a club financing facility to an airline (the customer). Kuala Lumpur Malaysia : Islamic Finance News. 2015-02-25.
https://search.emarefa.net/detail/BIM-783054
American Medical Association (AMA)
Hassan, Husayn Hamid. 2015-02-25. Islamic bank a and Islamic bank b had extended a club financing facility to an airline (the customer). Kuala Lumpur Malaysia : Islamic Finance News.
https://search.emarefa.net/detail/BIM-783054
