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usury. landing money at an illegal rate of interest.
A contract of sale between the bank and its client for the sale of goods at a price plus an agreed profit margin for the bank The contract involves the purchase of goods by the bank which then sells them to the client at an agreed mark-up Repayment is usually in installments.
This is a contract whereby a financial institution buys goods for a customer from a third party and then resells the goods to the customer at a pre-agreed price on deferred payment terms.
One of the most controversial type of transaction, it is a contract of sale in which payment is made some time after delivery of the goods transacted Used as the basis of modern Islamic banking since the amount charged for deferred payment is in excess of the current market price.
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