Tawarruq & Murabaha
It is a permissible form of selling, whereby Osoul buys a Shariah-permissible commodity (shares, car, furniture, etc.) upon the client’s request and then sells it after ownership to the client at a deferred price, provided that the purchase price and profit percentage are disclosed in the contract, with easy payment terms, which is a common form of Murabaha. Based on the Company’s vision and mission to adhere to the regulations of Islamic Sharia in all transactions, the Company has obtained the permission of the Shariah Committee to deal in Murabaha products in the above-mentioned form.
Under this system, Osoul sells a certain commodity (iron or cars), after buying from the supplier and owning it under the Murabaha system, to the client with easy payment terms, where the client receives the commodity and appoints a third party to sell it in the local market at a spot price and collect the price from the buyer as a fourth party to avoid the sale by sample.