FINANCE - Bay Al-Murabahah for Gold

Jakarta, (16/12). Murabahah contract for the sale of gold is one of hot topic at the Annual Meeting of Shariah National Board in Jakarta. The Sale contract of murabahah for gold is when the customer is willing to buy the gold with deferred payment.

“This bay al-murabahah for gold will simplify the process for the community to own the gold,” said Agustianto during his presentation.

Moreover he said that gold is effective for investment since gold is not affected by inflation, therefore many people invest their money in gold.

This new gold murabahah is still not familiar by Islamic finance institutions although some already implemented such as the gold pawn, in the meantime Islamic banking is still stick to the pawning services for gold under the contract of rahn.

“this bay al-murabahah for gold is a good analysis in the development of Islamic banking innovation products” exclaimed Agustianto. (Agus Y/nibra)

Source : http://www.pkesinteraktif.com/english/bank/2180-bay-al-murabahah-for-gold.html - Dec 16, 2010