A customer engaged in the trading of petroleum products has approached an Islamic bank seeking finance to procure oil
Fatawa Question
A customer engaged in the trading of petroleum products has approached an Islamic bank seeking finance to procure oil. The Islamic bank is considering financing the customer through a Murabahah structure. It is important to note that the modality of procuring oil is different from other goods, as the suppliers deliver oil from their ships directly to customer’s reservoir through pipes. This means that the new purchased oil becomes mixed with the existing oil in the reservoir, and there is no way to segregate the quantities of new from the existing oil. How should the Islamic bank accommodate the customer’s request ?
Fatwa
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Publisher
Publication Date
2013-11-07
Country of Publication
Malaysia
Main Subjects
Economics & Business Administration
Islamic Studies
Data Type
Fatawa
Language
English
Record ID
BIM-783606
American Psychological Association (APA)
Hassan, Husayn Hamid. 2013-11-07. A customer engaged in the trading of petroleum products has approached an Islamic bank seeking finance to procure oil. . Kuala Lumpur Malaysia : Islamic Finance News.
https://search.emarefa.net/detail/BIM-783606
Modern Language Association (MLA)
Hassan, Husayn Hamid. A customer engaged in the trading of petroleum products has approached an Islamic bank seeking finance to procure oil. Kuala Lumpur Malaysia : Islamic Finance News. 2013-11-07.
https://search.emarefa.net/detail/BIM-783606
American Medical Association (AMA)
Hassan, Husayn Hamid. 2013-11-07. A customer engaged in the trading of petroleum products has approached an Islamic bank seeking finance to procure oil. Kuala Lumpur Malaysia : Islamic Finance News.
https://search.emarefa.net/detail/BIM-783606
