A Client requests RBS Islamic Banking to finance the purchase of certain goods. They enter into a Murabaha agreement and the Bank appoints the Client as its agent (through an agency agreement). The Client makes the purchases on behalf of the Bank and upon possession of the goods, informs the Bank and makes an offer to purchase those goods from the Bank.

The Bank then accepts the offer, and the Murabaha Sale is concluded. However, the repayment may occur on the spot or at a pre-agreed future date between the Bank and the Client.

Ensuring Shariah Compliance
We at RBS Islamic Banking ensure that all our products strictly meet the highest standards of the Islamic Shariah. This is why we have an in-house Shariah Advisor, who is also advised by our Global Shariah Advisory Board consisting of eminent Shariah Scholars to oversee all banking transactions and business dealings

For any queries on RBS Islamic Banking and Finance please feel free to schedule a meeting with our Islamic Banking team by calling your Relationship Manager at 111-11-71-72.
You may also call our Customer Interaction Centre at 111-06-06-06.