Transcription of PD on Tawarruq 17112015 issuance - Bank Negara …
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Issued on: 17 November 2015 Tawarruq BNM/RH/PD 028-8 Islamic Banking and Takaful Department Tawarruq Issued on: 17 November 2015 Table of Contents PART A OVERVIEW 1 1. Introduction .. 1 2. Policy objectives .. 2 3. Scope of policy document .. 2 4. Applicability .. 3 5. Legal provisions .. 3 6. Effective date .. 3 7. 4 8. Related Shariah rulings and policy documents .. 5 PART B SHARIAH REQUIREMENTS AND OPTIONAL PRACTICES 6 9. Definition .. 6 10. Nature .. 6 11. Contracting parties .. 6 12. Ijab (Offer) and qabul (acceptance) .. 7 13. Asset .. 7 14. Price .. 10 15. Requirements of the Tawarruq .
BNM/RH/PD 028-8 Islamic Banking and Takaful Department Tawarruq Page 3 / 44 Issued on: 17 November 2015 (e) Principle 5 : The IFI shall provide adequate disclosure and
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