Company A approached an Islamic bank seeking a regular funding line to purchase from time to time certain quantities of raw material from company B, which is the sole distributor in the country for the import and supply of the required raw material
Fatawa Question
Company A approached an Islamic bank seeking a regular funding line to purchase from time to time certain quantities of raw material from company B, which is the sole distributor in the country for the import and supply of the required raw material. While preparing the financing proposal for the requested facility for approval by the bank’s head office, the branch officials noticed that Company B is 90 %-owned by the same shareholders who own company A. The query has been raised to the Shariah board of the bank for guidance as to whether the requested facility can be granted without compromising on any Shariah principles.
Fatwa
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Publisher
Publication Date
2013-12-04
Country of Publication
Malaysia
Main Subjects
Economics & Business Administration
Islamic Studies
Data Type
Fatawa
Language
English
Record ID
BIM-783600
American Psychological Association (APA)
Hassan, Husayn Hamid. 2013-12-04. Company A approached an Islamic bank seeking a regular funding line to purchase from time to time certain quantities of raw material from company B, which is the sole distributor in the country for the import and supply of the required raw material. . Kuala Lumpur Malaysia : Islamic Finance News.
https://search.emarefa.net/detail/BIM-783600
Modern Language Association (MLA)
Hassan, Husayn Hamid. Company A approached an Islamic bank seeking a regular funding line to purchase from time to time certain quantities of raw material from company B, which is the sole distributor in the country for the import and supply of the required raw material. Kuala Lumpur Malaysia : Islamic Finance News. 2013-12-04.
https://search.emarefa.net/detail/BIM-783600
American Medical Association (AMA)
Hassan, Husayn Hamid. 2013-12-04. Company A approached an Islamic bank seeking a regular funding line to purchase from time to time certain quantities of raw material from company B, which is the sole distributor in the country for the import and supply of the required raw material. Kuala Lumpur Malaysia : Islamic Finance News.
https://search.emarefa.net/detail/BIM-783600
