Murabaha for car acquisition: challenges reality and regulatory requirements

Abstract

 The acquisition of cars in the current situation is one of the most important topics that preoccupy the Algerian citizen, given the overlapping political, economic, social factors, etc., which resulted in a crisis in financing the market with vehicles after several attempts to convince global companies in the field of car manufacturing to have real investments in Algeria, making the latter a manufacturing country, not just an importer. Given the relevance of the issue to the citizen's daily life, it was necessary to find solutions, which included a new specifications book that allows the marketing of new cars in stages, then moving to the assembly and manufacturing stage. This will create momentum in the car market, including citizens' desire to purchase cars through bank financing. One of the formulas that is expected to be highly popular among citizens is the Murabaha contract for the purchaser in purchasing cars, especially since traditional banks can now offer this type of operation, in addition to Islamic banks. However, this contract in turn is not without some field problems, some of which this article will address.