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Shafi'i Fiqh

Islamic Ruling on Charging Money for Issuing Letters of Credit

Could you clarify the Sharia basis on which Islamic banks charge a percentage, as commission, from the value of the letters of credit issued upon request of client to import goods and raw materials. The bank issues the letters of credit (LC) in favor of the exporter and covers their value based on the agreed conditions, including the bill of lading that proves cargo shipment, then requests client to pay the value of the LC?

Shafi'i Fiqh

Sale with option to Repurchase is Invalid

A man owns a plot of land that is worth (25000JDs) and wants to keep it. However, he is in dire need for (5000), so he reached an agreement with someone whereby he sells it to the latter for (5000) under the condition that he repurchases it from him later on for (7000JDs). However, that person stipulated that it must be repurchased within six months or else he won`t be obliged to offer it for sale nor sell it for the agreed price. Is this form of sale permissible?

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