The Muslim jurists have allowed unilateral promises to be enforceable based on the principle that "the promise can be made enforceable at a time of need". The unilateral promise that is given in a particular structure is independent of the underlying transaction and is not a condition for the enforcement of that particular structure. Hence, if the sale is without any condition, but one of the two parties has promised to do something separately, then the sale cannot be held to be contingent or conditional upon fulfilling of the promise. A sale will take effect irrespective of whether or not the promisor fulfills his promise. This makes it clear that a separate and independent promise to purchase does not render the original contract conditional or contingent. Therefore, it can be enforced. 

All Islamic banks are required to set up Shari’a advisory committees to advise them and to ensure that the operations and activities of the bank comply with Shari’a principles. All products and services offered by Islamic banks must be approved by their respective Shari’a committees.

Attijari Al Islami operations will be under supervision of the Shari'a board comprising of key Islamic scholars conversant with the Islamic Shari'a and under independent management

Yes, our trade finance centre offers a complete range of trade related services, including export LC, which helps in activities relating to foreign export and support local products as we can advise this L/C to exporters and add their confirmation in case it is needed. As the exporter will present us with documents, which comply with L/C terms, they can get value of goods exported as per L/C terms.

Based on Kafalah concept; this is a facility whereby the bank undertakes to pay the beneficiary the agreed sum if the applicant fails or defaults in fulfillment of his obligations under the terms and conditions of the contract or agreement with the beneficiary. 

A guarantee is issued by CBD Attijari Al Islami (the guarantor) on behalf of its customer (the applicant) in favor of a third party (the beneficiary), for fulfillment of specifically defined contractual and/or financial obligations of the applicant. If the obligations are not fulfilled by the applicant, the guarantor will pay up to a certain amount to the beneficiary on non-performance of the obligations by the applicant.

This product provides you with the working capital to finance the purchase/ importation of goods, raw materials, machinery, etc for your business operations. Based on the Islamic concept of Murabaha, where it is known as mark-up sale financing, it is a contract entered between the buyer (customer) and seller (CBD), where the bank will sell goods on deferred terms to the buyer at an agreed selling price that comprises the bank's purchase price and profit margin. The Bank will pay the cost price of goods directly to the supplier and the customer will settle the bank’s selling price on a lump sum basis at an agreed date in the future.

Inward Bills for Collection is the handling of inward documents (domestic and foreign) received from the remitting bank and/ or Seller for presentation to the buyer for payment and/or acceptance of Bills of Exchange for payment at a future date.

Shipping Guarantee is an indemnity given by the customer, countersigned by the bank, to a shipping company or its agent to allow the shipping company to release the merchandise to the consignee named in the Bill of Lading without the presentation of the original Bill of Lading. Similar to BG-i, it is based on the Islamic concept of Kafalah where it is a contract of guarantee or surety given by one party to discharge the liability of a third party in the case of default.

A written undertaking given by a bank to a seller (local/ foreign) at your request in making payment to the seller on your behalf at a determinable future date. Based on the Islamic concept of wakalah where it is an agency relationship and one party is appointed an agent on behalf of the other party.

A Documentary Credit where the bank is both the "applicant" as well as the "issuer" of the document. All documents pertaining to the Documentary Credit are issued in the bank's name, and the bank shall be responsible not only for documents but also specification and condition of the goods.

Attijari Al Islami offers a range of solutions to help you in your trade transactions. The following Trade Finance Products are being offered by us:

• Murabaha Documentary Credit
• Wakala-Murabaha Documentary Credit
• Shipping Guarantee
• Wakala-Murabaha Document Collection
• Wakala-Murabaha Direct Purchase
• Murabaha Through Collection Documents - Local Goods
• Murabaha For Direct Purchase & Open Account- Local Goods
• Guarantee

Our Sales and Service Outlets have the infrastructure in place to ensure that your documents are processed accurately and in the fastest possible time.

Our trade professionals look forward to sharing their trade related knowledge with you.