Another pioneer, Mohammad Najatuallah Siddiqui, lamented that “following the misappropriation of most of its funds in Murabaha, Islamic financial institutions may fail in their expected role to mobilize resources for the development of the countries and communities they serve”[69] and even “cause an identity crisis of the Islamic finance movement”. [70] [Note 6] There are misunderstandings about the cost-benefit contract and conventional bank loans. Many bankers believe that Murabaha`s contract is a synthesized credit (a loan subdivided into pieces on risk-related risk). Some Muslims (including Rakaan Kayali) complain that Murabaha does not eliminate interest because he guarantees the amount of profits he earned,[23] and amounts to a legal “iyal” or “trick” to defeat sharia law. [54] Khalid Zaheer considers this to be an example of how two conventional Sharia contracts (Murabahah and Bai Muajjal) can be combined to make it a non-compliant contract. [74] Bilal wants to buy a boat sold for $100,000 at Billy`s Boat Shop. To do so, Bilal would contact a Murabaha bank who would buy Billy`s Boat Shop for $100,000 and sell it to Bilal for $109,000 to pay in installments over three years. The amount Bilal pays is a fixed amount to a bank that owns the assets and there is no interest charge. If Bilal is late in payments, he does not have to pay any additional fees. The additional amount paid by Bilal above the entry price of the boat store is actually a 3% loan, but as it is offered as a fixed payment at no additional cost, it is authorized by Islamic law. A – There does not appear to be any legal obstacle to the acquisition of shares of the bank and then to their sale to a third party through Murabahah, if the company`s bare values do not exceed their material value, and provided that the company`s activity is in no way involved in illicit products, such as wear, or narcotics or pigs or other. In addition to use by Islamic banks, Murabahah`s contracts have also been used by Islamic investment funds (such as SHUAA Capital of Saudi Arabia and Al Bilad Investment Company)[4] and Sukuk (also known as Islamic bonds) (for example, a sukuk issued in 2005 by the 2005 Arcapita sukuk Bank). [4] The purpose of murabaha is to finance a purchase without payment of interest that most Muslims (especially most scholars) consider riba (usurpation) and therefore haram (forbidden).

[5] Murabaha is now the “most widespread” or “default” type of Islamic finance. [6] refers to credit sales such as Murabaha, prohibited wear refers to the collection of extras for late payment (late fee), and the “them” refers to non-Muslims who have not understood why, if one was not allowed both, not:[27] The basic transaction of Murabaha is a cost-plus-profit purchase in which the item that the bank buys is something that the customer does not want, but does not directly cash at the moment. [48] However, there are other murabaha transactions in which the customer wants/needs cash and the product or merchandise purchased by the bank is a means of achieving an end.