An XY Islamic bank faced a Shariah concern about its NEW Murabaha product for mortgage financing. To mitigate the reputation risk that the bank might face, The CEO of a Saudi bank asked the bank’s credit department to search for Shariah resolutions (fatwa).

Required:

As an expert in Islamic finance, discuss options to rectify the product using different Shariah resolutions available to the bank.

Answer rating: 100% (QA)

1Shariah compliant is a joint pool wherein investors cont... View the full answer