Procedures for concluding a Murabaha contract for the purchase orderer a legal and legal study

Abstract

The Murabaha contract’ for the ordering of the purchase is considered a " is a bank operation related to Islamic banking.", based on the profit realized from the sale, and it can not lead in any way to the collection or payment of interest, which is the usury that is forbidden by Sharia, according to which the bank or financial institution receives an order of purchase issued On the client’s behalf of a commodity or product, whether real estate or movable,specified in particular, and he sells it to him at the purchase price with an increase in information as profit, with the latter pledging to buy it from him as a murabaha at the agreed price.                 The importance of this formula is tighlighted in providing the necessary facilities to the purchaser in many fields: industrial, commercial, Agricultural, professional, and even personal. this is done in a legal framework compatible with prevailing religious peliefs.
Therefore, this study aims to introduce the  various procedures necessary to conclude the murabahah contract, and provide details about the obligations of each party, according to what is required by both law and Islamic law, in order to contribute to inform customers of its services, and to clarify the extent to which its provisions are compatible with what is required by islamic sharia, and the extent of its ability to meet all their necessary needs, by financing them only for projects that achieve real value for the individual and society alike ; thus trying to attract these funds to the banking community: in a way that achieves both the bank’s interest in increasing its business number, and the customers ’interest in facilitating the establishment and running of their projects, which is reflected Necessarily to increase the volume of investments and activities in the country in a manner that stimulates sustainable development.