2-Step Murabaha as an alternative resource mobilisation tool for Islamic banks in the context of international trade Online publication date: Mon, 02-Nov-2009
by Ahmet Suayb Gundogdu
International Journal of Monetary Economics and Finance (IJMEF), Vol. 2, No. 3/4, 2009
Abstract: This paper aims to show how to mobilise resources through Islamic financial instruments in the context of international trade. Throughout the paper there would be five entities namely, Bank-A, Bank-B, Bank-C, Importer and Exporter. Bank-A and Bank-B are recognised financial institutions and they operate internationally while the operations of Bank-C are limited to domestic market. It is Bank-B which mobilises resources from Bank-A through Mudaraba and alternative Reverse 2-Step Murabaha agreements. The details of disbursement for line of financing provided by Bank-B to Local Bank-C through 2-Step Murabaha Agreement are also provided for Letter of Credit and Documentary Collection settlements.
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