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

Bursa Suq Al-Sila’ Commodity Trading Platform Launched

To facilitate increased transaction volumes, Bursa Malaysia has tried to enrol other commodity suppliers in the platform. This is particularly true since the transacting parties operate a netting facility arrangement between their different storage facilities confirming the fact that transfer of ownership does not duq take place. The essence of Bursa Suq Al-Sila, which embraces the commodity Murabahah concept, involves one party buying commodity at a certain cost and selling it to a customer at a cost-plus-profit basis.

This innovative platform would not have become a reality if not for the support and participation of industry sl across the board.

(Bursa Suq Al-Sila)

Wednesday, 13 Aug Volume Eventually, this will buraa to other Shariah approved commodities covering both soft and hard commodities. Commodity suppliers such as Crude Palm Oil suppliers are also provided with an additional revenue source, says Dato Yusli Mohamed Yusoff, chief executive officer of Bursa Malaysia.

BSAS is burwa Islamic brusa trading platform for the Islamic banking industry and capital market, introduced by Bursa Malaysia in Indeed, the concern over tawarruq is basically not about the essence of the contract but, rather, about several violations in its modern applications.


Khaleeji Butsa Bank acquires more treasury shares on Bahrain Bourse; increases total holding to 9. Pin Menu Pinned menu is a feature which allows you to remain your selected menu visible at all time. Nevertheless, the facility should only be used in situations of real urgency and cases of need.

Click on the orange RSS button to go to the Subscribe page. The latest underlying commodity added is RBD palm olein. This is particularly true in the case of transactions performed on the LME.

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

The customer burza sells back the commodity to the commodity market on spot for cash. Goldilocks Investment Company acquires Wednesday, 22 Feb Volume9.

Thursday, 05 May Volume Wednesday, 01 Dec Islamic Finance Asia. Wednesday, 12 Mar Volume Bursa Malaysia offers a holistic range of innovative Islamic Market products from equities and commodities to sukuk.

Wednesday, 04 Jan Volume9: 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, Pakistan considering privately placed year Sukuk; expected later this month.

Tuesday, 18 Oct Volume Wednesday, 31 Oct Volume9. This field should be left blank. In AprilZila added refined, bleached and deodorised RBD palm olein as a new commodity to meet greater demand from local and international players for commodity-based Islamic financing. It was indeed a good start for Bursa Suq Al-Sila. Thursday, 16 Feb Volume Wednesday, 03 Aug Volume8. Wednesday, 27 Jul 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.

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. Wednesday, 27 Jun Volume9.


It further accentuates the issue of transferring ownership or taking possession, which is required to be effected as one of the pillars of a valid contract.

The transaction sika also done on a random basis to assure that the same commodity does not go back to the same person via a netting arrangement.

Click here to sign up. Issues Pertaining to Possession and Delivery BSAS allows for delivery of the commodity, which eliminates another concern about the fictitious nature of organized tawarruq. This argument corresponds with a legal maxim: The concept of tawarruq has gained wide acceptance bhrsa market players due to its flexibility, which allows IFIs to provide cash with predetermined fixed income, just as their conventional counterparts do.

Help Center Byrsa new research papers in: Please select your choice for Best New Islamic Bank in Wednesday, 22 Mar Special Awards Report 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.

BSAS is another innovative offering sla a world’s first for Malaysia, further strengthening its position as an international Islamic financial hub. Islamic Bank of Afghanistan Afghanistan.

Wednesday, 08 Jun Volume8. Zakat authority to reach compromise with Saudi banks over additional Zakat payments before year-end. Sceptics may argue that this arrangement makes the transactions tantamount to fictitious transactions.