Musawamah definition

Musawamah means a type of sale in which a seller sells his goods without disclosing cost and profit. It’s a normal sale transaction. The sale price could be paid on spot or deferred, to be paid in lump sum or in installments.
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Musawamah means a sale contract without the disclosure of the asset cost price and profit margin to the purchaser. For the purpose of this CASA-i products, it will be used for non-profit bearing accounts.
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Examples of Musawamah in a sentence

  • The said Receipt shall be substantially in a form given in Musawamah Document # 4.

  • The Musawamah purchase of the Client from the Institution shall be effected by the exchange of an offer and acceptance between the Client and the Institution.

  • Any payment of premiums equivalent, settlement of exercised options or early termination of the FXOP-i Transaction by Party A or Party B may be effected by way of Commodity Murabahah or Commodity Musawamah.

  • I/We offer to purchase the above Goods from you for a Contract Price of Rs. (Rupees I/We undertake to pay the Contract Price referred to above in lump sum on , or in installments, if agreed by the Institution, as per the attached schedule (Musawamah Document # 6).

  • Unless otherwise agreed in writing by the Parties, the Parties agree to enter into a Commodity Murabahah / Commodity Musawamah transaction and the sale price under the Commodity Murabahah / Commodity Musawamah transaction shall be equivalent to the payment of Premium related to an FXOP-I Transaction to be paid on its Premium Payment Date.

  • With reference to the Agency Agreement dated and the Modaraba’s instructions contained in Musawamah Document # 3/1, we hereby declare and certify that acting as your Agent, we have used the sum of Rs. paid by your good selves to M/s and purchased on your behalf the Goods as detailed in Musawamah Document # 3/2).

  • Investasi yang sesuai meliputi akad jual beli secara tunai (Al Musawamah) ▇▇▇ tidak tunai (Al Murabahah), Sewa-menyewa (Ijaroh), kerjasama penyertaan sebagian modal (Musyarakah) ▇▇▇ penyertaan modal seluruhnya (Mudharabah).

  • The Musawamah purchase of the Client from the Modaraba shall be effected by the exchange of an offer and acceptance between the Client and the Modaraba.

  • Date: With reference to the Agency Agreement dated and the Institution’s instructions contained in Musawamah Document # 3/1, we hereby declare and certify that acting as your Agent, we have used the sum of Rs. paid by your good selves to M/s A sum of Rs. has been incurred for the purchase of the Goods, which are in my/ our possession at the following address: Copies of bill/cash memo/invoice issued in your name by M/s.