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Murabaha LC
 
  1. The customer submits an application to the bank to open a letter of credit for the purchase or import of goods, indicating that it wants to buy the goods from the bank upon arrival on a Murabaha basis.

  2. The bank will open a letter of credit accordingly, and the price will be paid by the bank in its capacity as the buyer of the goods.

  3. Upon the arrival of the goods, the bank sells them to the customer on a Murabaha basis at an agreed price which includes the cost of goods, a profit and service fees. 
  Last Updated:30/10/2014
  About Al Baraka
Al Baraka Islamic Bank - Bahrain (AIB - Bahrain) established 1984 in Bahrain and up the years has pioneered the development of Isl... read more>>

  Individuals
Current Accounts: On demand accounts are not entitled to receive profits but do not bear any loss either. They are designed speci... read more>>

  Commercial & Corporate
Murabaha is an Islamic form of asset financing and has a fixed term and a pre-determined profit. In a Murabaha the bank buys a spe... read more>>
     
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