اسلامی بینکوں میں رائج مرابحہ: طریق کار اور شرعی نقطہ نظر

Murabaha in Islamic Banks: Process and Shariah View

Abstract

Murabaha is a form of buying and selling the products in which a seller sells his product for profit. It has a significant advantage over other types of financial transactions due to its fairness and transparency. In the traditional banking system, traders, industrialists, and farmers do get loans from banks for long-term and short-term benefits and pay interest at fixed rates and time periods. But those who follow the teachings of the Quran and Sunnah in letter and spirit, avoid such interest-based transactions. In this scenario, Islamic banks introduced various methods of Islamic financing, out of which Murabaha has gained significant fame due to its compatibility with the injunctions of Islamic shariah.

This article is an attempt to address two important questions regarding Murabaha:

1. the classical Islamic concept of Murabaha
2. and its application in contemporary Islamic banking.

A qualitative method of research has been employed for the collection and analysis of data. The research concludes that Murabaha is an important product and method of sale in Islamic banks. Despite its quick fame, it needs some modifications to make it completely compatible with the teachings of Islamic shariah in letter and spirit.