Bank Negara announced introduction of a new Islamic monetary instrument, Collateralised Murabahah. It said Collateralised Murabahah was essentially a syariah-compliant financing secured by assets in which the financier had the right to sell the asset should the client fail to repay the financing.
“It combines the widely accepted Murabahah financing transaction with sukuk (Islamic bond) that forms the pledged asset to back the transaction,” it said in a statement………………………………………..Full Article: Source