- Al Baraka Group
- Branches & ATMs
Murabaha
Al Baraka Bank of Sudan provides Murabaha financing for commodities owned by the bank when the customer submits a financing request or Murabaha order to purchase a commodity that is purchased at the request of the customer and sold to him Murabaha. advance before implementation.
Morabaha application segments
Murabaha is considered one of the most widely used forms of financing in Islamic banks. It is suitable for partial financing of customers’ industrial, commercial or other activities, and enables them to obtain produced commodities, raw materials, machinery and equipment from inside or outside the country (import).
Steps to Morabaha financing
- The customer who orders the purchase submits a request to the bank stating the specifications of the commodity he wants.
- The bank studies the process, and ascertains its economic feasibility. It determines the conditions and guarantees for its ratification.
- The bank purchases the commodity according to its specifications from its owner.
- The bank's receipt and possession of the commodity (real or constructive).
- When the bank receives the commodity in the manner mentioned above, it presents the commodity to the orderer of purchase - who has the option to accept or reject it.
- If the person ordering the purchase accepts the commodity, the sale contract shall be drawn up, including all its conditions, with the signatures of both parties (the bank and the customer) and their witnesses.
- Implementation of the necessary guarantees from the purchase order.
- Delivering the commodity to the purchase order and issuing evidence of delivery