Islamic trade financing for exporters and importers

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Hello readers, today I will be looking at Islamic trade financing. Individuals that do import and export goods can benefit from this article. Today I will be talking about letter of credit.

Letter of credit

This is perceived as a fee based service provided by the bank to promote a trade between a buyer and a seller. The letter is issued by the bank to assure the seller that a payment will be made to him/her on behalf of the buyer after the seller must have provided some documents and of course delivered the goods. The bank can make payments using this form, the form is discussed below:

-The buyer will depositing the full amount of the transaction into the bank assuring the seller. After the goods must have been delivered and the documents needed has been provided by the seller, then the bank will make payments to the seller using the money of the buyer. In other words the bank acts as an agent of the buyer. However, the buyer will be charged a fee for the service.

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Evil: Lekki Central Mosque

Asalam alaykum There are mosques and there are evil places that call themselves mosques, Lekki central mosque is one of those places such an evil place. The so called chief imam Ridwan Jamiu is also fake. A mosque, they have two floors. I thought women where suppose to be upstairs and men downstairs. Yet, he allowed women to be entering the part where men enter, seeing women and men walking and passing through the same door. Women praying downstairs with no division between men and women. When I asked him about it, he said it is allowed. How is that allowed. Islam does not encourage the mixing of different sexes. Where ablution is done in the female part is sometimes dirty, when you are suppose to do ablution in a clean place.The toilets there were dirty and they face the qibla. Toilets are not meant to face the qibla according to Islamic law. There is one toilet there that did not face the qibla. A pit latrine, which i find odd why would there be regular toilets and one pit latri...

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Quran 3:56-59

Asalam alaykum "As for those who disbelieve, I will punish them with a severe punishment, in this world and the next, and they will have no helpers. And as for those who believe and do good works, He will give them their rewards in full. God does not love the unjust.” This is what We recite to you of the Verses and the Wise Reminder. The likeness of Jesus in God’s sight is that of Adam: He created him from dust, then said to him, “Be,” and he was." Quran 3:56-59 Ma salam.

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