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CIDT/Yebe Wognon – Islamic pre-export
23 March 2009
Shariah solution for cotton pre-export
Read more:
pre-export
PXF
ITFC
Ancile
CIDT
Yebe Wognon
ACE
Cote d'Ivoire
cotton
This unique transaction was selected as it demonstrates a number of significant innovations on a standard pre-export finance, as well as being Shariah-compliant, and of high social and economic significance.
The deal was structured on Murabaha basis, where the seller expressly mentions the cost incurred on the commodities to be sold and sells it to another party by adding some profit or mark-up thereon which is known to the buyer, with ITFC as the Mudarib (managing trustee) of funds provided by all participants....
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