Murabaha Transaction definition

Murabaha Transaction means a contract created between the Seller and the Purchaser pursuant to the terms of the Master Murabaha Agreement, which includes an Initial Murabaha Transaction and any Subsequent Murabaha Transaction;

Murabaha Transaction means, as applicable:

Murabaha Transaction means the one off commodity murabaha transaction entered into by the Bank and the Customer pursuant to the Murabaha Contract.

Examples of Murabaha Transaction in a sentence

• In this paper, we have proposed the Secure Electronic Murabaha Transaction (SEMT) protocol that provides a secure Murabaha sale service on the Internet.

• Is the Murabaha Transaction executed by the Bank for the outstanding credit Card amount, whereas the customer has expressed his desire to purchase the share of the Bank in the commodities and metal portfolio, owned commonly between the Bank and other partners (the “Partners”) and which are divided into commodity shares.

• We now describe the proposed Secure Electronic Murabaha Transaction (SEMT) protocol in detail.

• Many Muslims confined their involvement with these banks to transactionA Secure Electronic Murabaha Transaction activities such as current accounts and money transfers.

• It is permissible to build the cost of insurance into the cost of goods being sold by Murabaha. A proper Offer & acceptance has to take place through declaration to conclude Murabaha contract. The price of goods and Bank’s profit on Murabaha Transaction should be fixed and known to both parties at the time of contract.

• Moreover, other reviewing and approving staff should review the documents vigilantly to avoid any Shariah issue in Murabaha Transaction.

• As a Solution we can say this that the staff of Islamic Bank should be capable to understand the policy and know the importance of Moreover, other reviewing and approving staff should review the documents vigilantly to avoid any Sharia issue in Murabaha Transaction.

• As an example, in the context of the Murabaha Transaction, a customer could present an argument that the Bank had no apparent authority to bind the customer to the Murabaha Transaction if the underlying asset acquired by the Bank and to be sold to the customer did not meet the agreed specifications or description in the documents.

More Definitions of Murabaha Transaction

Murabaha Transaction means a transaction completed by:

Murabaha Transaction means a contract created between the Seller and the Purchaser pursuant to the terms of the Master Murabaha Agreement and includes a Fixed Murabaha Transaction, a First Reset Murabaha Transaction and a Subsequent Reset Murabaha Transaction;

Murabaha Transaction means a contract created between the Seller and the Purchaser pursuant to the terms of the Master Murabaha Agreement, which includes a Fixed Murabaha Transaction, an Initial Murabaha Transaction and any Subsequent Murabaha Transaction (as applicable). “Fixed Murabaha Transaction”, “Initial Murabaha Transaction” and “Subsequent Murabaha Transaction” have the meanings given to them in the Master Murabaha Agreement;

Murabaha Transaction means a transaction completed by:(ii) the delivery of a Notice of Offer to Sell by the Seller to the Purchaser; (iii) the delivery of the corresponding Notice of Acceptance of Offer by the Purchaser to the Seller; and (iv) the purchase of the Commodities by the Seller from the relevant Supplier and the conclusion of the corresponding Murabaha Contract between the Seller and the Purchaser for the purchase of such Commodities by the Purchaser from the Seller;

Murabaha Transaction means the Customer’s agreement pursuant to

Murabaha Transaction means the purchase of Assets by the Bank and the subsequent sale of those Assets by the Bank to the Customer and “Murabaha Transactions” shall be construed accordingly. Each Murabaha Transaction shall be evidenced by the terms and conditions of this Agreement read in conjunction with the Agency Agreement and relevant Written Request Declaration and Offer and Acceptance;