Commodity Murabahah definition

Commodity Murabahah means an Islamic transaction based on the Shariah principles of Murabahah (i.e. cost plus profit sale) and Tawarruq (i.e. tripartite sale);

Commodity Murabahah means the Syariah concept of cost plus sale where it involves the Customer purchasing commodity from the Bank at the cost plus profit and then selling it at cost price for the purpose of obtaining cash. The customer will make payment for the purchase of commodity on deferred terms

Commodity Murabahah means the Syariah concept of cost plus sale where it involves the Customer buying a commodity and then selling it at cost plus profit. You will receive the proceeds of your sale in cash on deferred terms.

Examples of Commodity Murabahah in a sentence

• 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.

• 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.

• For many years, IFIs have relied mainly on Commodity Murabahah for their liquidity management purposes in spite of issues and concerns related to Commodity Murabahah transactions, such as cost of commodity brokerage, amount of Xxxxx’ah compliant commodity to cover the transaction volumes etc.

• The facility is an unsecured financing facility and is based on Shariah principle of Commodity Murabahah via Tawarruq.

• Pursuant to the Notification Letter on the offer for Indulgence issued by the Bank to the Customer (“Notification Letter”), the Bank has agreed at the request of the Customer, to make available or continue to make available the Commodity Murabahah Financing Facility (“Facility”) subject to the terms and conditions therein contained.

• The Facility is made available to you by the Bank based on the Shariah concept of the Commodity Murabahah.

• This is a Term or Fixed Deposit account based on the Shariah principle of Murabahah and Tawaruq which is known as Commodity Murabahah.

• At the request of the Customer, the Bank has agreed to grant the Commodity Murabahah Home Financing-i/Term Financing-i facility under the Shariah contracts of Murabahah (cost plus), Tawarruq/Commodity Murabahah (monetization) and Wakalah (agency), in the maximum aggregate amount as set out in the Letter of Offer (hereinafter referred to as “Facility Amount”) in favour of the Customer subject to the terms and conditions herein contained.

• This sale by Public Auction is made by RHB ISLAMIC BANK BERHAD (“the Assignee”) in exercise of the rights, powers and remedies conferred upon the Assignee pursuant to the Commodity Murabahah Facility Agreement And Deed Of Assignment (1st Party) Both Dated 10th Day Of November, 2017 executed by LAW HEE KIONG (“the Assignor/Customer”) in favour of the Assignee and is made subject to all conditions and category of land use, express or implied or imposed upon or relating to or affecting the property.

• Subject to the applicable Shariah principles governing the transactions herein, we shall pledge the Documents and/or the Goods to the Bank as security upon completion of the Commodity Murabahah (Tawarruq) transaction in respect of the same.

More Definitions of Commodity Murabahah

Commodity Murabahah means the Shariah principle that refers to the sale of Commodities transaction, where the price consists of the Commodity Cost and a profit margin made known and agreed by all parties involved.

Commodity Murabahah means a sale contract in respect of an asset/commodity with a disclosure of the asset cost price and profit margin to the buyer.

Commodity Murabahah means sale and purchase transaction for the financing of the Commodity based on deferred payment basis by way of Murabahah in accordance with the terms and conditions contained in the Commodity Transaction Documents.