AAOIFI – World Bank Conference: Session 1

Yurizk Islamic Banking, Islamic Finance, Islamic Finance Instruments, New & Noteworthy Leave a Comment

Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) hosted the AAOIFI – World Bank Annual Conference on Islamic Banking and Finance on 17 and 18 November 2014 in Manama, Kingdom of Bahrain. The conference was organised in partnership with the World Bank, and was held under the auspices of the Central Bank of Bahrain.

The Problem with Tawarruq

Ismail Desai Islamic Finance Instruments Leave a Comment

Definition of Tawarruq (Monetization): refers to the process of purchasing a commodity for a deferred price determined through Musawama (Bargaining) or Murabaha (Mark-up Sale), and selling it to a third party for a spot price so as to obtain cash. Whereas Inah refers to the process of purchasing the commodity for a deferred price, and selling it for a lower …