This document defines and outlines the concept of Murabaha, which is a form of Islamic financing that involves the sale of goods at a profit agreed upon by both parties. It discusses the key conditions for a valid Murabaha transaction, including full disclosure of costs and profits. It also covers various types of Murabaha, potential issues, prohibited elements, and the documentation required.
AlHuda-Centre of Islamic Banking and Economics (CIBE) is a well known name in Islamic Banking and Finance sector which focuses on training, awareness, advisory and publications on Islamic Banking & Finance in order to promote the industry. AlHuda CIBE has organized a successful Conference "3rd Global Islamic Microfinance Forum" held on 6th & 7th October, 2013 in Dubai. AlHuda CIBE is very much pleased to share the topics and presentations being held in the Forum.
Meaning of Hire Purchase
Essential Features of Hire Purchase System
Meaning of Installment Purchase System
Features of Installment Purchase System
Important Terms and Provisions under Hire Purchase
Hire Purchase System
The process of Hire Purchase
Features of Hire Purchase
Advantages and Disadvantages of Hire Purchase
Contents of Hire Purchase agreement
Installment Purchase
Important Definitions
Difference between Hire Purchase and Installment Purchase
Difference between Sales and Hire Purchase
Lease
Features of Lease
Merits and Demerits of Lease
Difference between Hire Purchase and Lease
AlHuda-Centre of Islamic Banking and Economics (CIBE) is a well known name in Islamic Banking and Finance sector which focuses on training, awareness, advisory and publications on Islamic Banking & Finance in order to promote the industry. AlHuda CIBE has organized a successful Conference "3rd Global Islamic Microfinance Forum" held on 6th & 7th October, 2013 in Dubai. AlHuda CIBE is very much pleased to share the topics and presentations being held in the Forum.
Meaning of Hire Purchase
Essential Features of Hire Purchase System
Meaning of Installment Purchase System
Features of Installment Purchase System
Important Terms and Provisions under Hire Purchase
Hire Purchase System
The process of Hire Purchase
Features of Hire Purchase
Advantages and Disadvantages of Hire Purchase
Contents of Hire Purchase agreement
Installment Purchase
Important Definitions
Difference between Hire Purchase and Installment Purchase
Difference between Sales and Hire Purchase
Lease
Features of Lease
Merits and Demerits of Lease
Difference between Hire Purchase and Lease
when will pi network coin be available on crypto exchange.DOT TECH
There is no set date for when Pi coins will enter the market.
However, the developers are working hard to get them released as soon as possible.
Once they are available, users will be able to exchange other cryptocurrencies for Pi coins on designated exchanges.
But for now the only way to sell your pi coins is through verified pi vendor.
Here is the telegram contact of my personal pi vendor
@Pi_vendor_247
Currently pi network is not tradable on binance or any other exchange because we are still in the enclosed mainnet.
Right now the only way to sell pi coins is by trading with a verified merchant.
What is a pi merchant?
A pi merchant is someone verified by pi network team and allowed to barter pi coins for goods and services.
Since pi network is not doing any pre-sale The only way exchanges like binance/huobi or crypto whales can get pi is by buying from miners. And a merchant stands in between the exchanges and the miners.
I will leave the telegram contact of my personal pi merchant. I and my friends has traded more than 6000pi coins successfully
Tele-gram
@Pi_vendor_247
how to sell pi coins effectively (from 50 - 100k pi)DOT TECH
Anywhere in the world, including Africa, America, and Europe, you can sell Pi Network Coins online and receive cash through online payment options.
Pi has not yet been launched on any exchange because we are currently using the confined Mainnet. The planned launch date for Pi is June 28, 2026.
Reselling to investors who want to hold until the mainnet launch in 2026 is currently the sole way to sell.
Consequently, right now. All you need to do is select the right pi network provider.
Who is a pi merchant?
An individual who buys coins from miners on the pi network and resells them to investors hoping to hang onto them until the mainnet is launched is known as a pi merchant.
debuts.
I'll provide you the Telegram username
@Pi_vendor_247
BYD SWOT Analysis and In-Depth Insights 2024.pptxmikemetalprod
Indepth analysis of the BYD 2024
BYD (Build Your Dreams) is a Chinese automaker and battery manufacturer that has snowballed over the past two decades to become a significant player in electric vehicles and global clean energy technology.
This SWOT analysis examines BYD's strengths, weaknesses, opportunities, and threats as it competes in the fast-changing automotive and energy storage industries.
Founded in 1995 and headquartered in Shenzhen, BYD started as a battery company before expanding into automobiles in the early 2000s.
Initially manufacturing gasoline-powered vehicles, BYD focused on plug-in hybrid and fully electric vehicles, leveraging its expertise in battery technology.
Today, BYD is the world’s largest electric vehicle manufacturer, delivering over 1.2 million electric cars globally. The company also produces electric buses, trucks, forklifts, and rail transit.
On the energy side, BYD is a major supplier of rechargeable batteries for cell phones, laptops, electric vehicles, and energy storage systems.
what is the best method to sell pi coins in 2024DOT TECH
The best way to sell your pi coins safely is trading with an exchange..but since pi is not launched in any exchange, and second option is through a VERIFIED pi merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and pioneers and resell them to Investors looking forward to hold massive amounts before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade pi coins with.
@Pi_vendor_247
If you are looking for a pi coin investor. Then look no further because I have the right one he is a pi vendor (he buy and resell to whales in China). I met him on a crypto conference and ever since I and my friends have sold more than 10k pi coins to him And he bought all and still want more. I will drop his telegram handle below just send him a message.
@Pi_vendor_247
What price will pi network be listed on exchangesDOT TECH
The rate at which pi will be listed is practically unknown. But due to speculations surrounding it the predicted rate is tends to be from 30$ — 50$.
So if you are interested in selling your pi network coins at a high rate tho. Or you can't wait till the mainnet launch in 2026. You can easily trade your pi coins with a merchant.
A merchant is someone who buys pi coins from miners and resell them to Investors looking forward to hold massive quantities till mainnet launch.
I will leave the telegram contact of my personal pi vendor to trade with.
@Pi_vendor_247
how to sell pi coins at high rate quickly.DOT TECH
Where can I sell my pi coins at a high rate.
Pi is not launched yet on any exchange. But one can easily sell his or her pi coins to investors who want to hold pi till mainnet launch.
This means crypto whales want to hold pi. And you can get a good rate for selling pi to them. I will leave the telegram contact of my personal pi vendor below.
A vendor is someone who buys from a miner and resell it to a holder or crypto whale.
Here is the telegram contact of my vendor:
@Pi_vendor_247
Exploring Abhay Bhutada’s Views After Poonawalla Fincorp’s Collaboration With...beulahfernandes8
The financial landscape in India has witnessed a significant development with the recent collaboration between Poonawalla Fincorp and IndusInd Bank.
The launch of the co-branded credit card, the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card, marks a major milestone for both entities.
This strategic move aims to redefine and elevate the banking experience for customers.
how to swap pi coins to foreign currency withdrawable.DOT TECH
As of my last update, Pi is still in the testing phase and is not tradable on any exchanges.
However, Pi Network has announced plans to launch its Testnet and Mainnet in the future, which may include listing Pi on exchanges.
The current method for selling pi coins involves exchanging them with a pi vendor who purchases pi coins for investment reasons.
If you want to sell your pi coins, reach out to a pi vendor and sell them to anyone looking to sell pi coins from any country around the globe.
Below is the contact information for my personal pi vendor.
Telegram: @Pi_vendor_247
The Evolution of Non-Banking Financial Companies (NBFCs) in India: Challenges...beulahfernandes8
Role in Financial System
NBFCs are critical in bridging the financial inclusion gap.
They provide specialized financial services that cater to segments often neglected by traditional banks.
Economic Impact
NBFCs contribute significantly to India's GDP.
They support sectors like micro, small, and medium enterprises (MSMEs), housing finance, and personal loans.
Even tho Pi network is not listed on any exchange yet.
Buying/Selling or investing in pi network coins is highly possible through the help of vendors. You can buy from vendors[ buy directly from the pi network miners and resell it]. I will leave the telegram contact of my personal vendor.
@Pi_vendor_247
2. OUTLINE
• Definition
• Conditions of Murabaha
• Basic features of Murabahah
• Shariah issues related to Murabahah
• The prohibited elements in Murabahah
• Types of Murabahah
• Mechanism of Murabahah
• Documentations
3. Murabaha
Its is a type of contract, which is considered as a
form of sale, where the seller expressly mentions
the cost of the sold commodity, and sells it to
another person by adding profit.
Murabahah financing and cost plus or mark up
price is one of the financing mechanisms in the
muamalat system
4. Murabahah
The word
murabahah is
derived from the
word ribh means
profit or gain.
If a person sells
a commodity for
a lump sum
price or
installment basis
without
reference to the
cost, this is not
murabahah
Even though he
is earning some
profit but it is not
bases on cost
plus profit so this
is called
musawamah
5. Definition
• Ibn al-Humams definition.
• “Al-Murabaha is a contract of delivery of traded goods by
a seller to the buyer by offering the buyer the selling cost
plus profit”
6. Conditions
• The subject matter of the product should be define clearly
even the quantity, type and description
• The act of concealing the cost price and the profit earned
murabaha transaction without customer knowledge will be
rendered and transaction will be null and void.
• The seller has obligation to supply the product to the
customer, and his obligation is to pay the amount
according to the agreed terms
• Both parties should be adult ,rational ,intelligent and can
be held accountable
• The contract is based on offer and acceptance
7. Conditions
• The buyer must know about the price at which the seller
obtained the object of sale,
• Knowledge of the profit margin
• The original price is fungible. The price at which the seller
obtained the goods must be measured by weight, volume
or number of homogenous goods.
• If the seller is not the owner the murabaha is not
permitted
• No riba trading should involve
• The traded item or property must be lawfully owned by the
seller according to shariah
8. Practical steps of Murabaha
The client and the
institution sign a
master agreement
whereby the
institution promises to
sell and the client
promises to buy the
commodities on an
agreed ratio of profit
added
When a specific
commodity is required
by the customer the
institution appoints
the client as his agent
for purchasing the
commodity on its
behalf, and an
agreement of agency
is signed by both
parties.
The client purchases
the commodity on
behalf of the
institution and takes
possession as an
agent of the institution
9. Practical steps of Murabaha
• The client informs the institution that he has purchased
the commodity on his behalf, and at the same time,
makes an offer to purchase it from the institution.
• The institution accepts the offer and the sale is concluded
whereby the ownership as well as the risk of the
commodity is transferred to the client
• The bank cannot enter into a actual sale at the time when
the client seeks murabahah financing from him
10. Shariah Issues
• Institutes offer financing by using LIBOR a bench mark to
calculate there profit or mark up. This has been pointed
out that this benchmark should be prohibited like interest
and profit should not be taken by using this.
11. Securities Against Murabaha
• Seller cannot ask for securities unless he has sold the
product to the client and the price is due.
Guaranteeing The Murabahah
• There is no compulsion of guarantee in Murabaha it is a
voluntary transaction and no fee can be charge on a
guarantee
• There client should agree that in case of defaults in
payments at the due date, he would pay a specified
amount to a charitable fund maintained by the bank.
12. Shariah Issues
• There is no concept of roll over in murabahah. The
transactions cannot be rolled over for a further period.
Rebate on Early payment
• Some scholars allow it, if a person want to pay early so he
can ask for discount. But many scholars don’t allow this.
Rescheduling of payment
• You can reschedule the payment but cannot charge more
money on it that is interest.
13. The prohibited elements in Murabahah
• It can not be used on all financing offered by conventional
banks. Some financial institutes are using murabahah for
financing overhead expenses, salary purposes and
others. But murabahah can not be used like this. It can
only be used only where a commodity is intended to be
purchased by the customer.
• Sometimes clients sign the murabahah documents just for
funds and write any product which they do not intend to
use. So financer should confirm that the client is getting
funds for the right purpose.
14. The prohibited elements in Murabahah
• Sale of commodity to the client is effected before the
commodity is acquired from the supplier. This is wrong
there should be documents in every stage of Murabahah
contract
• Entering into a murabahah contract on commodities
already purchased by their clients from a third part. It is
wrong. When the commodity is bought by the client it
cannot be purchased against from the same supplier
15. Types of Murabaha
Order and Promise
• If the purchaser accepts the request of the orderer , he
should purchase the asset and conclude a valid sale
contract between him and the vendor of the asset.
• The purchaser offers the asset to the ordered who should
accept it by virtue of the juristically binding mutual
promise and should accordingly establish a sale contract.
16. Types of Murabaha
Murabahah to the purchase orderer without an obligation
• In this type of murabaha one of the parties(the purchase
orderer) asks the other party (purchaser) to purchase an
asset and promises that when the latter purchases the
asset, the orderer would purchase it fro him at a price
including mark up profit thereon.
17. General rules regarding Murabahah to the
purchase ordered
The Guarantee
• The creditor (purchaser) may ask the debtor (purchase
orderer) to provide him with a guarantee. The debtor
should in this case submit an acceptable guarantee. The
ordered goods may be one of the acceptable guarantees
for payment of the debt.
18. Debts under Murabaha to the purchase
orderer
• According to Sharia rules, the settlement of debts under
murabahah to the purchase orderer should not be
connected to the disposition of the goods sold, whether
the result of the sale is negative and positive. This is
because when the sale is completed, the title is
transferred to the orderer and the original purchaser holds
title to the receivable.
19. Mechanism of Murabahah
Letter of edit based on Murabahah:
• In this application of murabahah, the customer requests
the bank to open a letter of credit to import goods from
abroad through an application enclosing a pro-forma
invoice and providing all the necessary details and
information.After securing the necessary gurantee and
scrutinising the application, the bank
20. Sale and purchase of goods
• Upon receipt of purchase of goods by the institution,
directly or through an agent, from the supplier the goods
shall be at the risk and cost of the institution until such
time that these goods are sold to the client, to be
evidenced by the acceptance, duly signed and endorsed
the institution.
21. Documentation
• Sale and purchase of goods
• Security
• Fees and expenses
• Payment of contract price
• Events of default
• Penalty
• Indemnities