ضوابط عقود المرابحة في المصارف الإسلامية: مصرف الراجحي أنموذجًا

(The Regulations of Murbahah Contracts in Islamic Banks: Al Rahji Bank as Case Study)

Authors

  • Ahmad Abdulkadir Ibrahim (أحمد عبد القادر إبراهيم)

DOI:

https://doi.org/10.31436/attajdid.v24i48.597

Abstract

Abstract

The conditions and regulations of the murabahah contracts are considered to be highly important comparing to the other details of the general murābahah process particularly the one offered by Islamic banks. The current study aims to take a closer look at these regulations generally at the Islamic banks and in particular Al-Rahji bank. Its conditions are referred to the books of Feqh, explaining its complexity that involve promise to but and the sale with murabahah; the bank should possess the commodity before selling it before selling it to another customer; the original price and the informed profit to the bank must be agreed upon as the bank has to take responsibility should the commodity is destroyed before surrendering it to the bank. The study intends to see the extent to which these regulations are being applied in those banks. The paper deduces analytically by mentioning the regulations in general and explaining them. Their contents are explained and analysis. Subsequently the implementation of these regulations at Al-Rajhi bank is studied. The study found that there is a difference between a feqh regulation and principle; that the contract for the purchase orderer is considered already an acquisition of the right to possess the intended item to be purchased and later sold on behalf of the orderer with an agreed upon amount of profit; this is a legally sanctioned transaction in Syariaʾ. This type of contact is also different from the bai’ bi al-ʾinah. The study also observed that the murābahah process at Al-Rajhi bank necessitates that the purchased item it to be mutually profitable whereas the customer is given two days; if he agrees the sale is executed and in case he ceded the contract there would be no penalty imposed as it is the bank which is responsible for the item. There was no deposit taken from the customer prior to the contract.

Keywords: Murabahah, regulations, contracts, Islamic banks, customer, undertaking, Al-Rajhi Bank

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Published

2020-12-31

How to Cite

(أحمد عبد القادر إبراهيم) A. A. I. (2020). ضوابط عقود المرابحة في المصارف الإسلامية: مصرف الراجحي أنموذجًا: (The Regulations of Murbahah Contracts in Islamic Banks: Al Rahji Bank as Case Study). At-Tajdid - Intellectual Refereed Journal, 24(48), 143–169. https://doi.org/10.31436/attajdid.v24i48.597