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  • Sale with an additional price (Bay al-murabaha).

    In our time, contracts of sale, known as "Bey al-Murabaha", have become particularly popular.

    What is Bay al-Murabaha?
    This is a contract under which the seller undertakes to sell the goods at a certain price, including a surcharge called a "riba". Riba is an amount that includes the cost of the product and the profit of the seller. At the conclusion of the contract, both the cost of the product and the amount of profit or its percentage can be announced. For example, a salesperson may say: "I sell you this car for 100 thousand, and on top of 2.5% of the cost is my profit", or: "I sell you this car for 100 thousand and on top of ten thousand is my profit".

    Is such a trade transaction permitted?
    Such a transaction is considered permissible, since the basis for trading is free will. In this case, the product is sold at a certain price with a surcharge that was previously agreed upon, and therefore the trade transaction is considered permissible.

    Is there any problem with this?
    It should be noted that in modern times the term "al-murabaha" is sometimes used to refer to treaties that may cause some concern. Although the term "murabaha" was present in the terminology of scholars of previous generations, today some banks that position themselves as "Islamic" use it in a different context, which may distort the essence of the problem.


    For example, a person may come to the bank and say: "I want to buy such a car in installments". The bank might say, " Okay, we're selling you this car for so much in installments for so much." And the person can say: "Agreed, I'm buying."

    Is this permissible?
    If the purchase and sale agreement was concluded before the bank purchased the car, then such a trade transaction will be considered invalid, since the bank sold something that does not belong to it.
    However, if the person and the bank have not agreed on a purchase and sale agreement, but only that the person promises to buy a car without any obligations, then there are no problems in this.

    How do I distinguish"promise"?
    When the car is purchased by the bank and delivered, the bank and the person will be able to conclude a purchase and sale agreement. To conclude a trade transaction, the seller must offer the goods (ijab), and the buyer must accept this offer (Kabul).
    When the buyer only promises to buy the goods (i.e., does not sign the contract, does not pay the deposit, etc.), this means that both parties have freedom of choice until the conclusion of a trade transaction for which the seller must first purchase the goods.

    Is this trade transaction permissible?
    Most scientists believe that such a trade transaction will be permissible, since it falls under our rule and has no obstacles."
    Tags: bay al-murabaha, shariah finance, trade relations
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