A customer was extended a letter of credit (LC) and Murabahah facility for the underlying goods by an Islamic bank
Fatawa Question
A customer was extended a letter of credit (LC) and Murabahah facility for the underlying goods by an Islamic bank. The relevant goods arrived at the port prior to the receipt of shipping documents by the bank. In order to avoid demurrage by the port authorities due to delay in receipt of shipping documents, the customer requested the bank to issue a shipping guarantee enabling it to get the goods released. Shariah guidance is sought if it is permissible to issue a shipping guarantee in such scenario.
Fatwa
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Publisher
Publication Date
2013-12-18
Country of Publication
Malaysia
Main Subjects
Economics & Business Administration
Islamic Studies
Data Type
Fatawa
Language
English
Record ID
BIM-783595
American Psychological Association (APA)
Hassan, Husayn Hamid. 2013-12-18. A customer was extended a letter of credit (LC) and Murabahah facility for the underlying goods by an Islamic bank. . Kuala Lumpur Malaysia : Islamic Finance News.
https://search.emarefa.net/detail/BIM-783595
Modern Language Association (MLA)
Hassan, Husayn Hamid. A customer was extended a letter of credit (LC) and Murabahah facility for the underlying goods by an Islamic bank. Kuala Lumpur Malaysia : Islamic Finance News. 2013-12-18.
https://search.emarefa.net/detail/BIM-783595
American Medical Association (AMA)
Hassan, Husayn Hamid. 2013-12-18. A customer was extended a letter of credit (LC) and Murabahah facility for the underlying goods by an Islamic bank. Kuala Lumpur Malaysia : Islamic Finance News.
https://search.emarefa.net/detail/BIM-783595
