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SINDH BANK SURABAYA FACILITY PRODUCT MANUAL February 2014 ISLAMIC BANKING DIVISION This document is the property of Sindh Bank Limited. Its reproduction in any form whatsoever is not allowed without

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How to fill out murabaha facility

1. Start by collecting all the necessary documents and information required to fill out the murabaha facility application.
2. Fill out the personal details section of the form, including your full name, address, contact information, and employment details.
3. Provide details about the desired financing amount and purpose of the murabaha facility.
4. Complete the financial information section, which may include providing details about your income, assets, liabilities, and any existing financing arrangements.
5. Review the filled-out form to ensure all the information provided is accurate and complete.
6. Attach any supporting documents required by the financial institution, such as bank statements, identification documents, or proof of income.
7. Submit the completed murabaha facility application to the relevant financial institution.
8. Wait for the financial institution to review your application and provide feedback or additional documentation requirements.
9. Once approved, carefully review the terms and conditions of the murabaha facility agreement before signing it.
10. Make sure to fulfill all the obligations and repayments as per the agreed terms to maintain a good credit history.

Who needs murabaha facility?

1. Individuals or businesses in need of financing to purchase specific assets or commodities.
2. People looking for an Islamic finance solution that aligns with Sharia principles.
3. Small and medium-sized enterprises (SMEs) seeking capital for their operations or expansion.
4. Individuals or businesses lacking sufficient funds to make a full upfront payment for an asset, but can afford to make installment payments.
5. Individuals or businesses interested in fixed-term financing with predetermined profit rates.
6. Those who seek a halal alternative to conventional interest-based financing.
7. Individuals or businesses willing to provide collateral as security for the murabaha facility.
8. Those who prefer a transparent and mutually beneficial financing arrangement.

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What is murabaha facility?

Murabaha facility is a type of financing arrangement where the seller agrees to buy a specific item and resell it at a higher price to the buyer, allowing the buyer to pay in instalments.

Who is required to file murabaha facility?

Financial institutions and companies offering murabaha facilities are required to file this with the relevant regulatory authorities.

How to fill out murabaha facility?

Murabaha facility must be filled out with accurate information about the buyer, seller, item being sold, pricing details, and payment structure.

What is the purpose of murabaha facility?

The purpose of murabaha facility is to provide a Sharia-compliant financing option for buyers who wish to purchase goods or services without taking a traditional loan.

What information must be reported on murabaha facility?

Information such as the buyer's details, seller's details, description of the item being sold, pricing structure, and payment terms must be reported on murabaha facility.