Musyarakah > means participation of two or more persons in a certain business with defined amount of capital according to a contract for jointly carrying out a business and for sharing profit and loss in specified proportions .
Murabahah >sale and purchase agreement between the bank and the customer. bank buys goods from another party and then sells it to consumers with the buyer to know how large the cost and benefits received by the bank
Different Mudharabah and Musyarakah
Mudharabah
- Profit sharing.
- Mudharabah capital represents savings for the owner or investor but is generally a source of livehood for the working partner or entrepreneur.
- As a basis of financial intermediation in the Islamic economy is offered as a viable basis for an interest free banking system
- Entrepreneur shall not be liable for any loss of the venture.Thus, if the Mudharabah business runs into a loss, only the investor will have to bear the loss.
Musyarakah
- Partnership
- Literally it means a joint venture agreement between 2 parties to engage in a specific business activity with an aim making profit.
- Both parties will provide capital and the investor or lender may also participate in the management.
- In the event of loss, all parties bear the loss in proportion to the share of financing
Different Salam and Murabahah
SALAM
-In salam purchased goods are differed , price is paid on spot .
-in salam price has to be paid in full in advance.
-salam is not executed in the particular commodity but commodity is specified by specifications.
-salam cannot be effected in respect of things which must be delivered at spot ( e.g ) salam between wheat and barley .
Different Mudharabah and Musyarakah
Mudharabah
- Profit sharing.
- Mudharabah capital represents savings for the owner or investor but is generally a source of livehood for the working partner or entrepreneur.
- As a basis of financial intermediation in the Islamic economy is offered as a viable basis for an interest free banking system
- Entrepreneur shall not be liable for any loss of the venture.Thus, if the Mudharabah business runs into a loss, only the investor will have to bear the loss.
Musyarakah
- Partnership
- Literally it means a joint venture agreement between 2 parties to engage in a specific business activity with an aim making profit.
- Both parties will provide capital and the investor or lender may also participate in the management.
- In the event of loss, all parties bear the loss in proportion to the share of financing
Different Salam and Murabahah
SALAM
-In salam purchased goods are differed , price is paid on spot .
-in salam price has to be paid in full in advance.
-salam is not executed in the particular commodity but commodity is specified by specifications.
-salam cannot be effected in respect of things which must be delivered at spot ( e.g ) salam between wheat and barley .
MURABAHAH
-in murabahah purchased good are delivered at spot , price may be either on spot or differed.
-in murabahah price maybe on spot or differed.
-murabahah can be executed in particular commodity.
-murabahah can be executed in those things
Different salam and salam parallel
Salam => application stage of contract > payment of purchase by the bank of a salam customer .at this stage of the contract, only one of credit or market risk is possible at the same time. To be prudent, higher of the two should be provided ._receipt of the purchased commodity by the bank,_the purchased commodity is sold and delivered to the buyer
Salam parallel => application stage of contract > payment of purchase price by the bank of salam customer _receipt of the purchased commodity by the bank . Asset available for delivery to the customer. If the bank has legal right to recoup from the customer any loss on disposing of the asset. The purchased commodity is sold and delivered to the buyer and the amount is received.
picture of Salam and Salam Paralel
Salam :
-Make a contract of salam between seller/muslam ilaih and buyer/muslim
-pay the obligation to seller
-seller sent the goods to buyer
Salam paralel :
-Bank negotiation and akad salam with farmer/muslam ilaih.
-bank negotiation and akad with buyer/muslim
- buyer pay the obligation to bank
-bank pay to farmer/muslam ilaih
-muslam ilaih send the goods and document to buyer/muslim
-muslam ilaih send the document to bank
Definition Istisna and istisna parallel
Istishna 'is the sale and purchase agreement in the form of ordering the manufacture of certain goods by criteria and specific requirements agreed between the buyer (buyer, mustashni') and seller (manufacturer, shani ').
Istishna ‘parallel is a form of contract "between the buyer (buyer, mustashni') with the seller (manufacturer, shani '), then to meet its obligations to mustashni', the seller requires the other party as shani '.
IJARAH
-In terminology, Ijara is an agreement for the transfer of rights (benefits) of goods or services within a specified time by the payment of wages (ujrah), without being followed by the transfer of ownership of the goods themselves.Objects in the ijara contract is the benefit itself, rather than the object.
Different ijarah mutahiyah bi tamblik and ijarah wal-iqtina
-in murabahah purchased good are delivered at spot , price may be either on spot or differed.
-in murabahah price maybe on spot or differed.
-murabahah can be executed in particular commodity.
-murabahah can be executed in those things
Different salam and salam parallel
Salam => application stage of contract > payment of purchase by the bank of a salam customer .at this stage of the contract, only one of credit or market risk is possible at the same time. To be prudent, higher of the two should be provided ._receipt of the purchased commodity by the bank,_the purchased commodity is sold and delivered to the buyer
Salam parallel => application stage of contract > payment of purchase price by the bank of salam customer _receipt of the purchased commodity by the bank . Asset available for delivery to the customer. If the bank has legal right to recoup from the customer any loss on disposing of the asset. The purchased commodity is sold and delivered to the buyer and the amount is received.
picture of Salam and Salam Paralel
Salam :
-Make a contract of salam between seller/muslam ilaih and buyer/muslim
-pay the obligation to seller
-seller sent the goods to buyer
Salam paralel :
-Bank negotiation and akad salam with farmer/muslam ilaih.
-bank negotiation and akad with buyer/muslim
- buyer pay the obligation to bank
-bank pay to farmer/muslam ilaih
-muslam ilaih send the goods and document to buyer/muslim
-muslam ilaih send the document to bank
Definition Istisna and istisna parallel
Istishna 'is the sale and purchase agreement in the form of ordering the manufacture of certain goods by criteria and specific requirements agreed between the buyer (buyer, mustashni') and seller (manufacturer, shani ').
Istishna ‘parallel is a form of contract "between the buyer (buyer, mustashni') with the seller (manufacturer, shani '), then to meet its obligations to mustashni', the seller requires the other party as shani '.
IJARAH
-In terminology, Ijara is an agreement for the transfer of rights (benefits) of goods or services within a specified time by the payment of wages (ujrah), without being followed by the transfer of ownership of the goods themselves.Objects in the ijara contract is the benefit itself, rather than the object.
Different ijarah mutahiyah bi tamblik and ijarah wal-iqtina
1.Ijarah Muntahiyah bi al-Tamlik (Assets and properties)
-To transfer the asset or property to another person in exchanged for rent claimed.
-Another word – Leasing
-Lessor – ‘Muajjir’
-esee – ‘Musta’jir’
-Rent payable to lessor – ‘Ujrah’
2.Al-Iqtina (Lease jarah wal-Iqtina’ to Purchase or Hire Purchase)
-A contract is just the same as that of the Al-Ijarah except that the business owner is committed to buying the equipment at the end of the lease period.
-Fees previously paid constitute part of the purchase price.
-This type of lease to purchase agreement is commonly used for home financing.
Wadiah yaid almanah and addamanah
-To transfer the asset or property to another person in exchanged for rent claimed.
-Another word – Leasing
-Lessor – ‘Muajjir’
-esee – ‘Musta’jir’
-Rent payable to lessor – ‘Ujrah’
2.Al-Iqtina (Lease jarah wal-Iqtina’ to Purchase or Hire Purchase)
-A contract is just the same as that of the Al-Ijarah except that the business owner is committed to buying the equipment at the end of the lease period.
-Fees previously paid constitute part of the purchase price.
-This type of lease to purchase agreement is commonly used for home financing.
Wadiah yaid almanah and addamanah
- Al Amanah Wadiah Yad, is a pure deposit, the goods are entrusted may not be used (taken advantage) by the depositor, any deposit should be returned intact whether the value of physical goods and, if damage occurs during the day care then the party receiving the deposit is not burdened with the responsibilities as compensation for the care of day care charges may apply.
- Ad Dhamanah Wadiah Yad, is the development of Al Amanah Wadiah Yad adapted to economic activity. Surrogate recipients were given permission to use and benefit of the deposit. Storage have an obligation to be responsible for loss / damage to the goods. All profits earned from the deposit entrusted to the right recipient. As compensation to the owner of the goods / funds can be given some incentive in the form of bonuses, which are not required previously.
- Ad Dhamanah Wadiah Yad, is the development of Al Amanah Wadiah Yad adapted to economic activity. Surrogate recipients were given permission to use and benefit of the deposit. Storage have an obligation to be responsible for loss / damage to the goods. All profits earned from the deposit entrusted to the right recipient. As compensation to the owner of the goods / funds can be given some incentive in the form of bonuses, which are not required previously.
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