VU Answer Gives Correct BNK610 Assignment No 1 Solution Spring 2022. A Solved BNK610 Assignment 1 Solution 2022 PDF Solution File.

In the BNK610 course, you can study various important topics and lectures. According to the VU schedule every semester they provide bnk610 assignments for students to submit with solutions before the due date.

We will share a proper bnk610 assignment 1 solution for spring 2022 with a pdf that you can easily preview and easily download the complete file below.

BNK610 Assignment 1 Solution 2022

Murabaha

In the case when you're trying to purchase something, you may ask a bank to buy it for you. ' Upon receipt of an order, the bank creates a contract specifying the item's cost and profit, along with payback conditions that may be spread out over a period of time.

The Islamic financial system of Murabaha compares it to a sales contract. Customers may specify a profit margin, which is subsequently included into the fixed costs of goods and services’

Distinguishing feature of Murabaha, from the lack of financial gain

A Murabaha buyer has a right to know the vendor's expenses and the expected profit. Sellers who do not reveal how much they paid for an item known as "Musawima" are in agreement with the buyer.

In the end, finance businesses resell the assets they purchased on behalf of their clients (the borrowers) for the original purchase price, plus an additional profit (generally calculated based on a benchmark figure such as LIBOR).

A basic definition of Murabaha (Arabic:) is the practice of selling goods for a profit agreed upon in advance (mark-up). A ba'i or bay is a kind of sale that has the following characteristics: The buyer is constantly informed of the purchasing price since sharia law dictates that a merchant reveal the precise amount (known as thaman in Arabic). The customer should be informed if there are any issues with the product.

Interest Payments And Murabaha

Most Muslims and Muslim scholars consider interest payments to constitute Riba, according to the majority of Muslims (usury). Non-interest-bearing commodities are well-suited to Murabaha financing (forbidden). In recent years, Murabaha has been the "default" or "most common" method of Islamic banking.

Procedures for the Murabaha workplace

To be lawful, a transaction must include the sale of an already-existing object. The contract is invalid since it is impossible to sell something that does not exist at the time of the transaction. For the sale to be legitimate, the item must be in the hands of the seller at the moment of the transaction.

Setup of the commodities facility by Murabaha

Markup prices are agreed upon prior to the purchase of goods. The selling transaction between the customer and the bank is based on a Shariah-compliant commodity.

The Murabaha technique of doing business is commonplace in Islamic banking.

By emphasizing fair trade, the Murabaha system is the most frequently recognized and utilized Islamic financial mechanism. By agreeing to sell a product for a profit, a bank enters into an agreement with its clients.

It is possible for Islamic banks to adopt the Murabaha method to meet the needs of their customers.

Upon completion of a Murabaha transaction, the buyer is given full disclosure of both the seller's expenses and their revenues. Clients' asset-based working capital needs are met via an Islamic short-term facility known as a Murabaha. Depending on the terms of this agreement, FBL will either sell the asset to the client immediately or at a later date.

The term “Murabaha Tawarruq" refers to the practice of investing via the use of borrowed money.

Traditional selling contracts between a bank and a customer are not employed in the Tawarruq financing arrangement (second sale).

It's possible to earn interest on a Murabaha. What's the difference between these two?

It is the structure of the contracts that differs most significantly between the two. Murabaha sales and other financial transactions based on interest are rather widespread. Under a Murabaha transaction, a bank sells a product for a profit. No information about the bank's original investment or the transaction's profit is kept under wraps.

DOWNLOAD SOLUTION File

Check Also More Latest Assignment Solution:

SOC101 Assignment 1 Solution 2022

ISL202 Assignment 1 Solution 2022

PSY101 Assignment 1 Solution 2022

MTH302 Assignment 1 Solution 2022

All Assignment Solution 2022 Files

Tags:

BNK610 Assignment Solution 2022

BNK610 Assignment No 1 2022 Solution

BNK610 Assignment 1 Solution 2022

BNK610 Solution 2022 Spring