Press Release

April 15, 2005 

 

State Bank’s Shariah Board Approves
Essentials and Model Agreements for
Islamic Modes of Financing

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Essentials of Islamic Modes of Financing
Murabaha Facility Agreement
Musawamah Facility Agreement
Lease Agreement
Salam Agreement
Musharaka Investment Agreement
Istisna Agreement
Agreement for Interest free Loan
Mudaraba Financing Agreement
Syndication Mudaraba Agreement
In the Name of Allah, the Merciful, the Compassionate
Model Murabaha Facility Agreement
(For Corporate Clients-local purchases)

Murabaha Document # 3.1

PURCHASE REQUISITION

S. No.___________
Date: ___________

To:
___________________________ [Insert name and address of the Institution]
___________________________
___________________________

Dear Sirs,

PURCHASE REQUISITION FOR PURCHASE OF THE GOODS
MURABAHA FACILITY AGREEMENT DATED

(1) Please refer to the Murabaha Facility Agreement dated [______] (the "Agreement") between [insert name of the Client] (the "Client") (of the first part) and [insert name of the Institution] (the "Institution") (of the second part).

(2) All terms defined in the Agreement bear the same meanings herein.

(3) The Client hereby requests you to purchase the Goods from the Suppliers as per the provisions of the Agreement as follows:

(a) Goods as detailed in Murabaha Document # 3/2:
(b) Cost Price: ____________________
(c) Value Date: ___________________

(4) Please make arrangements to pay the Cost Price to the account of _______________on the Value Date in immediately available funds.

(5) All the terms and conditions of the Agreement shall form an integral part of this Requisition.

Yours faithfully,

For and on Behalf of the Client
______________________
________________________________________________________________________________________

INSTITUTION’S INSTRUCTIONS

No. _____________
Date: _____________

_____________________
_____________________
_____________________


Dear Sir,

You are hereby instructed to execute the aforesaid Purchase Requisition for and on our behalf in the manner, to the extent and for the Goods stipulated therein.


For and on Behalf of

______________________
(Insert Institution’s name)


 
 


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