BANKING AFFAIRS

Detailed explanation-1: -Murabahah Working Capital Financing (MWCF) is a working capital financing facility to finance purchases/importation of goods, raw materials, etc. as required by the customer for its business operations against Letter of credit issued by the Bank or under open account and collection basis.

Detailed explanation-2: -A Shariah based term financing facilities for acquiring completed or under construction assets, refinancing the existing properties, financing commitments or for working capital.

Detailed explanation-3: -Murabaha, in its original Islamic association, is simply a kind of sale. The only feature distinguishing it from other kinds of sale is that the seller in Murabaha explicitly tells the purchaser about the cost he has incurred and the profit he is going to charge in addition to the cost.

Detailed explanation-4: -Basic Rules for Murabaha The subject of sale must exist at the time of the sale. Thus anything that may not exist at the time of sale cannot be sold and its non-existence makes the contract void. 2. The subject matter should be in the ownership of the seller at the time of sale.