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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Do you have suggestions or feedback to help us improve? This innovative platform would not have become a reality if not for the support and participation of industry players across the board. Wednesday, 04 Jan Volume9: Tuesday, 25 Oct Volume The launch commodity is Malaysias star product, crude palm oil CPO. Thursday, 31 Mar Special Awards Report The bbursa involves the sale and purchase of real physical assets.

(Bursa Suq Al-Sila) – Islamic Finance News

With regard to the commodity, it is noted that many commodities used in the practice of organized tawarruq are spoiled commodities that no one would agree to purchase if they actually wanted the commodity for its own sake Al-Qara Daghi, Eventually, this will expand to other Shariah approved commodities covering both soft and hard commodities. Bursa Bursw offers a holistic range of innovative Islamic Market products from equities and commodities to sukuk.

Securities and Commodities Authority issues two draft regulations on Sukuk and Islamic funds. It was indeed a good start for Bursa Suq Al-Sila. Products Bursa Malaysia offers a holistic range of innovative Islamic Market products from equities and commodities to sukuk.

Once ownership goes back to a supplier, all unencumbered commodities may or may not be re- offered hursa the BSAS market ubrsa other trades. Wednesday, 03 Feb Volume In fact, the mechanism of JFX Shariah is designed to make the delivery of commodities the first option in transactions squ ascertain that the sale contract is real and not fictitious.

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Bursa Suq Al-Sila’ Commodity Trading Platform Launched

The suppliers place their bids which replicate the real market. Log In Sign Up. Tuesday, 21 Nov Volume In effect, BSAS integrates the global Islamic financial and capital markets together with the commodity market. To overcome this issue, BSAS has arranged that the sale to the commodity supplier be done on a random basis. However, the widespread practice of organized tawarruq has been disapproved by many contemporary scholars.

Bank Indonesia targets to more than double Islamic finance market share by It is purposefully designed as an exchange of multiple commodities using tawarruq transactions.

This state of affairs could lead to the same commodity being the object of multiple transactions Abu Ghuddah, 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. Central Bank of Kuwait places six-month conventional bonds and related Tawarruq facilities.

The customer will then pay the amount and the profit to the party on a deferred-payment basis. 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 a platform like the London Metal Exchange LME. Wednesday, 17 Oct Volume9.

Wednesday, 05 Sep Volume9. On the other hand, the issue of authorization in the case of JFX Shariah is well taken care of, as the business model allows commodity users customers to transact online and deal directly with commodity brokers.

Some scholars also raised concerns about the lack suuq proper monitoring of the practice by certain segments in the market. Click here to pin menu. With regard to potential redundancy in the commodities used, BSAS provides a fully electronic system that recognizes and verifies ownership through e-certificates.


Wednesday, 25 Suqq Volume9. AAOIFI has also stressed that tawarruq should not be used as a mode of investment or financing with the aim to make more profits.

State Bank of Pakistan calls on Islamic banks to partner with government to implement affordable skla plan. As Bursa Suq Al-Sila is multi-currency capable, non-RM trades will be introduced in the foreseeable future to provide for international market players.

Monday, 12 Mar Deals of the Year Handbook Al Akhdar Bank Morocco. Remember me on this computer. Wednesday, 09 Apr Volume The issue of agency arrangement, suqq, might still arise, particularly in case of transactions involving non-members such as retail customers.

Wednesday, 10 Aug Volume8. Do let us know. Commodity suppliers such as Crude Palm Oil suppliers are also provided with an additional revenue source, says Dato Yusli Mohamed Euq, chief executive officer of Bursa Malaysia.

Bursa Suq Al-Sila’ (BSAS) | Bursa Malaysia Market

Wednesday, 08 Jun Volume8. Wednesday, 16 Nov Volume8. Wednesday, 03 Aug Volume8. Subscribe to our RSS feeds and get the latest Bursa Malaysia news delivered directly to your desktop.

Islamic Bank of Afghanistan Afghanistan. This pioneering effort cements Malaysia’s strength in both Islamic finance and Crude Palm Oil industry. Once acknowledged by BMIS, the commodity supplier will then be notified. Wednesday, 13 Aug Volume Tuesday, 18 Oct Volume The trading in Bursa Suq Al-Sila today follows the recent signing of Memorandum of Participation between Bursa Malaysia and over 26 commodity suppliers, financial institutions and trading participants three weeks ago.