Tawarruq personal financing using Bursa Suq Al Sila’. Commodity Supplier. Bursa Suq Al-Sila’/. Trading Platform. Commodity Buyer. Facility Agent. (Sub-Agent). USPSB. (Agent / Issuer). Facility Agent. (Sale Agent). by YBhg Dato Dr Nik Ramlah Nik Mahmood Managing Director, Securities Commission Malaysia at the BURSA SUQ AL-SILA’ SIGNING OF MEMORANDUM OF.

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Issues Pertaining to Agency BSAS has no specific measure to address the issue of authorization since the issue lies largely in the hands of the platform users. Wednesday, 31 Oct Volume9. However, it is beyond the control of the BSAS since the decision is exclusively a, right of the contracting parties; BSAS merely serves as a platform to facilitate the transaction. Wednesday, 11 Jan Volume It is expected to also enhance liquidity management for Islamic Financial Institutions.

Bursa Suq Al-Sila’ Commodity Trading Platform Launched

Displaying 1 – 50 of That is because juristic consideration is based on predominant market practice rather than infrequent occurrence.

Wednesday, 03 Aug Volume8.

Friday, 19 Jul Volume Wednesday, 03 Feb Volume This is done mainly to protect customer su as well as to address the accessibility issue, since the BSAS platform is only accessible to registered members who are mainly IFIs.

It is purposefully designed as an exchange of multiple commodities using tawarruq transactions. BSAS is an Islamic commodity trading platform for the Islamic banking industry and capital market, introduced by Bursa Malaysia in However, the widespread practice of organized tawarruq has been disapproved by many contemporary scholars.


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(Bursa Suq Al-Sila) – Islamic Finance News

To facilitate increased transaction volumes, Bursa Malaysia has tried to sika other commodity suppliers in the platform. On the other hand, the issue of authorization in the case of JFX Shariah is well taken care of, as the business model allows commodity users customers to transact online and deal directly with commodity brokers. Once ownership goes back to a supplier, all unencumbered commodities may or may not be re- offered into the BSAS market for other trades.

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Bursa Suq Al-Sila’ (BSAS) | Bursa Malaysia Market

Khaleeji Commercial Bank acquires more treasury shares on Bahrain Bourse; increases total holding to 9. The delivery by the commodity supplier to the buyer will take place within seven days upon receipt of the commodity certificate endorsed by BMIS.

Nevertheless, many industry players are still sceptical about the amount of CPO available for banks to transact, especially in the case of treasury operations, which normally involve huge transaction volumes.

Sharjah Islamic Bank collaborates with Sharjah Finance Department to ensure easier and safer payment services. With regard to potential redundancy in the commodities used, BSAS provides a fully electronic system that sils and verifies ownership through e-certificates. Once acknowledged by BMIS, the commodity supplier will then be notified.


Wednesday, 17 Aug Volume8. This is particularly true since the transacting parties operate a netting facility arrangement between their different storage facilities confirming the fact that transfer of ownership does not actually take place.

As Bursa Suq Al-Sila is multi-currency capable, non-RM trades will be introduced in the suqq future to provide for international market players.

The latest underlying commodity added is RBD palm olein. Wednesday, 08 Jun Volume8.

(Bursa Suq Al-Sila)

Monday, 26 Oct Volume With regard to the commodity, it is noted that many commodities used in the practice of organized tawarruq are spoiled commodities that no one would agree to purchase if they actually wanted the commodity for its own sake Al-Qara Daghi, Ak the initial stage, crude palm oil will be used as the launch commodity.

This is particularly true in the case of transactions performed on the LME. To overcome this issue, BSAS has arranged that the sale to the commodity supplier hursa done on a random basis.