At Omdurman National Bank, we offer you a range of banking products and services that are specially designed to meet all the needs and aspirations of our corporate clients, as the bank offers many financing options according to Islamic financing formulas.
It is a legal form of trading in which the capital and the work participate in order to achieve a product for the benefit of both parties of the mudarabah. So the capital comes from one of the parties and is called the capital owner. The work is done by the other party and known as the worker or Mudarib, and each of them will share a known amount of profit.
The bank provides its customers with the service of issuing murabaha credits that enable the customer to obtain some goods, devices and equipment from abroad, and this is done by submitting a request to the bank to import a commodity indicating its description, quantity and price. So, the bank imports it and sells it to the customer after its arrival at its cost price with agreed upon surplus profit.
The Musawma sale is done through the customer requesting the bank to buy a specific commodity, which the bank buys from a third party at a price that the customer has no relation with as well as a profit that the customer does not know accordingly, and the customer has the right to accept or reject the commodity after the bank owns it. If the customer accepts the goods, he pays its value to the bank in installments as agreed upon, and the bank applies the bargaining sale on the commodities purchased from the local market.
The Istisnaa method is done through the bank contracting with the customer (Al-Mustasni) to carry out a specific project. Bearing all the costs of raw materials and wages and then fully hand it over to the customer at a specified amount and on a specific date. Since the bank does not currently own a contracting company, it contracts to implement the project with one or more contracting companies.
Investment system with “Musharaka" method is the main distinguishing feature of the Islamic bank from other conventional banks. This type of investment is based on the bank providing its share of the capital requesting to establish a joint venture or buying and selling goods where the bank participates in the potential results (profit or loss) in light of legitimate distribution rules that agreed upon in advance.
The bank buys objects or stakes then it leases them to others, these objects can be real estate, equipment, or miscellaneous equipment. This is done after a feasibility study and ensuring its profitability and compliance with the provisions of Islamic Sharia.
It is the transference of the land from its owner to whoever cultivates it or works on it, and they share the crops, and the financing of the Islamic Bank to Muzara is considered as a form of participation between two parties, the first party is the Islamic bank as the provider of the required fund for the farmer, and the second party is the owner of the land or the worker (The farmer) who needs financing.
Linguistically, this term is derived from the Arabic expression for “watering”; this is for a person that waters the palm trees and the vineyards and get a specific interest. As a term, it is a contract to pay the trees and vines to someone who fixes them with a known part of their fruits, or it is a kind of company with the trees being on one side and the breeding from another side, and to divide the fruit obtained between them, the Musaqa is legitimate like the Muzara, which meets the need of tree owners who are not aware of trees caring, and they need experienced person in that. So, the Musaqa was allowed to achieve their benefit
The deferred sale is that the commodity is delivered immediately in exchange for delaying the payment of the price to a known time, whether the delay is for the whole price or for a part of it, and usually the deferred part of the price is paid in installments. If the value is paid once at the end of the agreed period with the transfer of ownership in the beginning, it is a deferred sale, and if the price is paid in installments from at reception of the commodity with the transfer of ownership at the end of the payment period, then it is regarded as an installment sale.