Types of Murabaha 1. Import Murabaha in Foreign and Local Currency Types
The document discusses three types of Murabaha: import Murabaha in foreign and local currency which can be pledge, hypothecation, term finance, trust receipts or spot; local purchase Murabaha which can also be pledge, hypothecation, term finance, trust receipts or spot; and advance against future Murabaha (imported/local) where goods are purchased by the bank and maintained until the customer requests to purchase them from the bank on a spot basis, with this facility provided on a short term basis up to one year.
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Types of Murabaha 1. Import Murabaha in Foreign and Local Currency Types
The document discusses three types of Murabaha: import Murabaha in foreign and local currency which can be pledge, hypothecation, term finance, trust receipts or spot; local purchase Murabaha which can also be pledge, hypothecation, term finance, trust receipts or spot; and advance against future Murabaha (imported/local) where goods are purchased by the bank and maintained until the customer requests to purchase them from the bank on a spot basis, with this facility provided on a short term basis up to one year.
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Types Of Murabaha
1. Import Murabaha in Foreign and Local Currency
Types: Pledge Hypothecation Term Finance Trust Receipts Ship Breaking Spot 2. Local Purchase Murabaha Types: Pledge Hypothecation Term Finance Trust Receipts Spot 3. Advance against Future Murabaha (imported/local) In Advance against Future Murabaha, goods are purchased by the bank who maintains ownership until customer request to purchase the same from bank on spot Murabaha basis. Hence, goods are not consumed till the same is sold by bank to customer. This facility is provided on short term basis i.e. maximum for one year.