{
  "issue_key": "vol06-no1-2018",
  "volume": 6,
  "number": 1,
  "season": "Autumn 2018",
  "year": 2018,
  "sequence": 13,
  "type": "case-study",
  "section": "Case Study",
  "title": "Murabaha Financing and Islamic Banking in Bangladesh: a case study",
  "subtitle": null,
  "slug": "murabaha-financing-and-islamic-banking-in-bangladesh-a-case-study",
  "corporate_author": null,
  "authors": [
    {
      "given_name": "Mohammad M",
      "family_name": "Hasan",
      "credentials": null,
      "affiliation": null,
      "email": null,
      "orcid": null,
      "is_corresponding": false,
      "sequence": 1
    }
  ],
  "abstract": "This article explores the use of Murabaha as one of the most common modes of operation used by Islamic Banks and references the Islami Bank Bangladesh Limited. It refers to a sale where the seller discloses the cost of the commodity and amount of profit charged. Murabaha is a sale of a commodity for profit, and its mechanism for operation is explained in simple terms as the bank purchasing the commodity at the level of the client’s acquisition and selling it at a cost-plus-profit basis. Murabaha is a sales contract; whereas the conventional finance overdraft facility is an interest-based lending agreement and transaction. In case of Murabaha, the bank sells an asset and charges profit, which is a trade activity declared halal (valid) in the Islamic Shariah Laws¹.",
  "keywords": [
    "Murabaha Contract",
    "Cost plus sale",
    "Sale",
    "Debt",
    "Musawamah",
    "Asset Financing",
    "Good Purchase",
    "Trade Products"
  ],
  "first_page": 100,
  "last_page": 106,
  "pdf_start": 101,
  "pdf_end": 107,
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  "notes": [
    "¹ Islamic Shariah Laws: All aspects of a Muslim's life are governed by Sharia. Sharia law comes from a combination of sources including the Quran (the Muslim holy book), the Hadith (sayings and conduct of the prophet Muhammad) and fatwas (the rulings of Islamic scholars) (Hassan & Lewis, 2007).",
    "² Riba al-fadl, which means adding to the amount when exchanging one item for another of the same type.",
    "³ Chapter 3 Sipara ‘Tilkar Rosolui, Sura: 2 ‘Al Baqarah",
    "⁴ IDB. The Islamic Development Bank is an international Islamic financial institution. The purpose of the Bank is to foster the economic development and social progress of member countries and Muslim communities individually as well as jointly in accordance with the principles of Islamic Shariah Laws (Islamic Development Bank, 2017.",
    "⁵ As an example: an unborn animal cannot be sold under Murabaha because it does not exist at the time of sale"
  ],
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