Ref no: 0062# Date: Monday, 11th April, 2011 Category Money Matters Title Please comment on the sharia compliance of trade finance through Albarakah Bank Question Plz comment on the sharia compliance of trade finance through Albarakah Bank. I negotiate goods frm a supplier, who issues a proforma invoice in my and alabarakah’s name, the bank frwds paymnt to the supplier of goods and resells the goods to me at a … [Read more...]

Question I need your assistance to clarify my position due to a situation that has arisen. In early December last year my neighbour requested my assistance to procure two vehicles for his company. I approached Ashraf a friend of mine who is a car dealer to supply the cars. He supplied the cars and was paid by the company direct. Ashraf and I had agreed a commission which was subsequently paid to me. A week later Ashraf approached me and told me … [Read more...]