9 murabahah bai ‘ mu’ajjal deferred payment sale

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Unformatted text preview: 9 Murabahah Bai ‘ Mu’ajjal- Deferred Payment Sale 8. In order to secure the payment of price, the seller may ask the buyer to furnish a security whether in the form of a mortgage or in the form of a lien or a charge on any of his existing assets. 9. The buyer can also be asked to sign a promissory note or a bill of exchange, but the note or the bill cannot be sold to a third party at a price different from its face value. 10 Murabahah To Sum it Up - Bai ‘ Mu’ajjal- Deferred Payment Sale 1. A deferred payment sale. 2. Due date is fixed in unambiguous manner. 3. Due date countdown starts from delivery of product. 4. Deferred Price can be more than the cash/spot price. 5. Sale price fixed cannot be increased or decreased. 6. Late payment penalty can only go to charity. 7. If installments are delayed, all become due at once. 8. Security may be required. 9. Promissory note can be signed but traded on par. 11 Murabahah Murabahah Financing - Basic Features Being a sale, and not a loan, the murabahah should fulfill all the conditions necessary for a valid sale. Murabahah cannot be used as a mode of financing except where the client needs funds to actually purchase some commodities. The best way for murabahah, according to Shariah, is that the financier himself purchases the commodity and keeps it in his own possession. Or purchases the commodity through a third person appointed by him as agent, before he sells it to the customer. 12 Murabahah Murabahah Financing - Basic Features Being a sale, and not a loan, the murabahah should fulfill all the conditions necessary for a valid sale. Murabahah cannot be used as a mode of financing except where the client needs funds to actually purchase some commodities....
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