СС 8 - Мурабаха

The purpose of this standard is to explain the Shari’ah basis and rules for a Murabahah transaction, the stages of this transaction beginning from the promise to transferring ownership of the goods to the customer, and the Shari’ah requirements that need to be observed by Islamic financial Institutions.

The word (Institution/Institutions) is used here to refer, in short, to Islamic financial institutions including Islamic Banks.

Scope of the Standard

This standard covers the Murabahah transaction and its various stages, the issues relating to guarantees before concluding a Murabahah deal such as promise, as promise, Hamish Jiddiyyah Hamish Jiddiyyah (security deposit) and issues relating to (security deposit) and issues relating to guarantees for recovery of the debt created by the Murabahah transaction. This standard does not cover deferred payment sales that take place on a basis other than that of Murabahah. It also does not cover other trust and bargaining sales. 2. Procedures Prior to the Contract of Murabahah