Register now or log in to join your professional community.
1 - A general credit card Contract detailing payment schedules and APR, and profit margin
2- This also shows the commodity being used in the transaction (making it Islamic)
3 - An promissory note duly signed by client ( in the case of loans)
4- The method could be a Murabaha contract or Tawarruq (If the client doesn't pay in full)
5 - The idea behind this is that all parties (The bank, client, and commodity provider benefit)