E-murabaha a mechanism for e-commerce

Abstract EN

E- Murabaha is a new approach proposed as an e-commerce mechanism; intend to create an electronic murabaha system.

this system provides an effective technical mechanism for the execution of the murabaha contract, allowing for the purchase of goods online from the commercial sites of the Islamic bank, in a manner which corresponds with the Islamic faith.

murabaha in Islamic banks: the client can view the item available on the bank’s website and directly select the item and reviews its details.

the next step is to agree on the cost price of a real commodity and the price of a commodity after determining the margin of profits, premiums and payment mechanisms.

moving to the last stage of the system, the process of selling and sending takes place after the client has agreed to all the details of the property contract for the items.

according to this system, the bank is presumed to have a commercial website where all the goods are available, so the system consists of two parties, thereby abiding by sharia rules.

the bank discloses the actual cost of the item including the agreed profits.

the systems offer a new addition to e-commerce, in the Islamic way, and provide significant development in both e-trading and finance structures compliant with sharia.