Reverse Murabaha Handler

IFZoom Reverse Murabaha module is the manager for Reverse Murabaha transaction.

Reverse Murabaha transactions are composed by the following elementary components (managed by IFZoom base module):

• Commodity purchase/sale
• Commodity transfer
• Financing facility

In line with user defined flows, for every base transaction IFZoom Reverse Murabaha Handler generates a set of

• Messages
• Confirmations

IFZoom Reverse Murabaha Handler does not allow to generate flows NOT compliant with SHARIAH law (Software internal audit).

The Reverse Murabaha status has to be defined during IFZoom Murabaha Handler set-up, generally a Murabaha transaction has the following status:

• Murabaha Request
• Murabaha parameters loading
• Murabaha parameters loading check
• Murabaha parameters loading confirmation
• Financials Calculation
• Financial Calculations check
• Financial Calculations confirmation
• Commodities Request
• Commodities Request to Broker
• Commodities Request ack from Broker
• Commodities details fill
• Confirmation Manager computing
• Confirmation Manager fill in
• Confirmation Manager process activation (the following status are updated by Confirmation Manager)
  • Notice Of Intention
  • Purchase Request Commodity Supplier 1
  • Seller Offer Commodity Supplier 1
  • Principal Confirmation
  • Client’s Purchaser Acceptance
  • Principal Notice Purchase
  • Principal Acceptance
  • Seller Request Commodity Supplier 2
  • Purchase Offer Commodity Supplier 2
  • Seller Acceptance