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Islamic Concept
Islamic Capital Market
Islamic Concept Applicable To Trade Finance Products

Wakalah (Agency)

Wakalah refers to a contract where a party authorizes another party to act on behalf.
Products under Wakalah:
Inward Letter of Credit-i
Outward Letter of Credit-i
Inward Bills for Collection-i
Outward Bills for Collection-i
Murabahah (Cost-Plus Profit)

Murabahah is a "cost-plus profit" sale contract. It is a facility granted to bank's client for financing their short term working capital requirement by way of lump sum deferred payment cost plus profit.
Products under Murabahah:
Murabahah Working Capital Financing-i
Accepted Bills-i (Purchase/Import)
Outward Letter of Credit-i
Musyarakah (Joint Venture)

Musyarakah is defined as a joint venture on profit / loss sharing between a bank and its client whereby the client has to contribute part of the capital in a joint venture project. The profit derived from the project shall be distributed at a profit ratio as agreed between the bank and its client.
Products under Musyarakah:
Outward Letter of Credit-i
Kafalah (Guarantee)

Kafalah is a contract of guarantee in which one party guarantees the fulfillment of a claim or performance of an obligation which is due to another party in a case of default.
Products under Kafalah:
Shipping Guarantee-i
Bank Guarantee-i
Bai' Dayn (Debt Trading)

Bai' Dayn refers to the sale of a debt arising from trade and services transaction in the form of a deferred payment sale. The client sells this debt to the Bank at a discount.
Products under Bai' Dayn:
Bai' Al-Dayn Working Capital Financing-i
Accepted Bills-i (Sales/Export)
Foreign and Domestic Bill Purchased-i

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