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Rate Service

Murabaha Transactions

Service ID
3.0.4

Details

Dubai Clear Company may consider requests for transfers of ownership securities by Shariah Compliant Financial Institutions for listed securities underlying an Islamic Murabaha transaction to an investor client of the institution.


Fees

Transfer securities from Shariah Compliant Financing Institution  (SCFI) to an investor: Murabaha transfer fees is 0 .00275 (0.275%) and calculated as follows:

Number of securities*Market value or higher*rate

 

(NOTE: all fees to be paid to Dubai Clear Company by the SCFI ONLY)


Procedures
    • Receive Registration form to open new NIN number
    • Receive Murabaha Transfer form from Islamic Murabaha Institution
    • Open new NIN number for the Islamic Murabaha Institution
    • Transfer the securities from SCFI to investor’s account
    • Send account statement report to the SCFI
    • Prepare voucher

Required Documents
  • Fill NIN creation form from Islamic Murabaha Institution
  • Fill transfer form
  • Pay Murabaha fees by SCFI

How to Apply?
Submitted by SCFI either by mail or by hand.