Commodity Murabaha Facility Agreement

5 Dec

As far as the HongLeong CASA Tawarruq T-C is concerned, the SD cannot be used by the customer, which is true. I spoke with one of the original product developers in HLIB, Ustaz Muhammad Hadi, and the method is that the SD stays as SD until the transaction of the Murabahah merchandise is carried out (which can be done every day, based on a net deposit situation at the end of the day). Once the transaction of Murabahah`s merchandise is completed, the amount of SD changes into profit. Accumulated profits are accumulated until the end of the month, when the entire amount accumulated is finally recorded on the debit account so that it can be in line with the account. You are therefore right to point out that SD cannot be used by the customer, whereas, in my opinion, SD should be made available to the customer if the bank is not able to carry the Murabaha commodity (the SD is the amount of the guarantee that corresponds to the consideration of profit). The purpose of the above agreement is to obtain immediate cash and not for the purpose of acquiring the assets or benefit of the commodity. The transaction is a means of facilitating the obtaining of cash and cash and, while the economic holding of raw materials must change ownership during the transaction, it is rare for the client to actually take physical ownership of the goods (this is not the client`s main intention). However, the ability to physically deliver the goods must always be the possibility for the customer to participate in the goods when he chooses physical delivery. In most cases, the trade will take place on the same day, as the T-1 may raise some concerns about the random Qard. But the exemption for T-1 has already been obtained as part of the recent decision of the Casual Qard, so it is an option. From what I understand from Ustaz Hadi, the SD is awarded by the bank, but not paid. But perhaps the concern of Sharia will be to know why SD is affected.

SD is there to comfort that Murabahah merchandise is exported, so I guess Sharia law is understood in case the Murabahah merchandise is not made and results in a loss of revenue for the customer if the SD is to be paid to the customer in compensation for the losses. But until now, I have not realized that there has never been a failure to export Murabaha merchandise to steal the profits from the sale of goods. I think the SD is there to offer fairness to customers if the murabahah merchandise is not exported. In the Murabaha agreements, a commodity is sold for a cost plus profit, and both the buyer and the seller know the costs and the profits that flow from it.