Tawarruq personal financing using Bursa Suq Al Sila’. Commodity Supplier. Bursa Suq Al-Sila’/. Trading Platform. Commodity Buyer. Facility Agent. (Sub-Agent). USPSB. (Agent / Issuer). Facility Agent. (Sale Agent). by YBhg Dato Dr Nik Ramlah Nik Mahmood Managing Director, Securities Commission Malaysia at the BURSA SUQ AL-SILA’ SIGNING OF MEMORANDUM OF.

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The two platforms are claimed to provide genuine commodity transactions in which possession and delivery of the commodity can take place without any hindrance, as opposed to the controversial practice of tawarruq using burda platform like the London Metal Exchange LME.

Wednesday, 08 Jun Volume8.

He can be contacted at senapatie yahoo. Subscribe to our RSS feeds and get the latest Bursa Slla news delivered directly to your desktop. This argument corresponds with a legal maxim: He can be contacted at mahbubi isra.

In some cases, the buyer is prevented from taking any delivery, either explicitly or implicitly, by the standard operating procedure of the market.

Please select your choice for Best Sjla Islamic Bank in Thursday, 16 Feb Volume Sceptics may argue that this arrangement makes the transactions tantamount to fictitious transactions.


Malaysia International Islamic Financial Centre (MIFC) : Bursa Suq Al-Sila’

The latest underlying commodity added is RBD palm olein. Malaysias position as an Islamic aila hub was further solidified with the successful commencement of trade on the worlds first, end-to-end Shariah-compliant commodity trading platform.

Nevertheless, many industry players are still sceptical about the amount of CPO available for banks to transact, especially in the case of treasury operations, which normally involve huge transaction volumes.

Friday, 26 Jan Volume Log In Sign Up.

Indeed, the concern over tawarruq is basically not about the essence of the contract but, rather, about several violations in its modern applications. Contact Us Help Centre. Displaying 1 – 50 of Sharjah Islamic Bank collaborates with Sharjah Finance Department to ensure easier and safer payment services. Wednesday, 10 Aug Volume8. Skip to main content. Friday, 07 Oct Volume8. This fully-electronic platform, called Bursa Suq Al-Sila, is an international commodity platform that is able to facilitate commodity-based Islamic financing and investment transactions under the Shariah principles of Murabahah, Tawarruq and Musawwamah.

In fact, the mechanism of JFX Shariah is designed to make the delivery of commodities the first option in transactions to ascertain that the sale contract is real and not fictitious.

Since the prices of commodities traded on the platforms are higher than those of the actual market, it creates a practical disincentive to players seeking delivery or selling the commodities outside the platforms. Goldilocks Investment Company acquires The customer then sells back the commodity to the commodity market on spot for cash.


He can be contacted at asyraf isra. Eventually, this will expand to other Shariah approved commodities covering both soft and hard commodities.

Bank Indonesia targets to more than double Islamic finance market share by This pioneering effort cements Malaysia’s strength in both Islamic finance and Crude Palm Oil industry. Click here to pin menu.

(Bursa Suq Al-Sila)

This state of affairs could lead to the same commodity being the object of multiple transactions Gursa Ghuddah, Bank Negara Malaysia auctions three Islamic liqudity management facilities.

Monday, 05 Sep Volume Friday, 19 Jul Volume With regard to potential redundancy in the commodities used, BSAS provides a fully electronic system that recognizes and verifies ownership through e-certificates. In AprilBSAS added refined, bleached and deodorised RBD palm olein as a new commodity to meet greater demand from local and international euq for commodity-based Islamic financing.