MANAMA: Bahrain Islamic Bank (BisB) has signed an agreement with Bahrain Bourse for a murabaha financing framework using a Sharia-compliant lending service, with the underlying asset being Ijara sukuk provided by the Central Bank of Bahrain (CBB).
Adding this Murabaha service introduces a new underlying asset to the bank’s existing commodity murabaha facility structure, currently conducted via local and international brokers, further diversifying the structure and enhancing its framework given that it is actioned via a digital system which decreases the processing time exponentially .
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