National Clearing Company of Pakistan Limited (NCCPL) has launched Murabahah Share Financing (MSF) System following the Regulations approval from Securities and Exchange Commission of Pakistan (SECP).

The system has been developed through extensive consultations and guidance from Shariah Advisory Board of SECP and renowned Shariah scholars representing reputed Islamic banks.

Murabahah is primarily a sale transaction which is used to finance the purchase requirements of the customer in a Shariah compliant manner. MSF will allow financing only in Shariah compliant securities which fall under the PSX-KMI All Share Islamic Index.

The MSF system will provide the existing as well as the new investors of Securities Market with an opportunity to avail financing through Shariah compliant manner. By joining hands with NCCPL, the Islamic banking system operating in Pakistan, can further avail the benefits of the said product which is designed and developed for the facilitation of the overall Capital Market operations and bring excess liquidity into market.

Salient Features:

1. An attractive financing avenue for the Islamic banks operating in Pakistan
2. Shariah compliant financing option for Capital Market investors
3. State-of-the-art electronic platform for transaction(s) execution
4. All securities listed at KMI All Share Index are eligible for MSF system
   
   

• Presentation
  • Murabahah Share Financing - Presentation
• Rules & Regulations
  • MSF Regulations
• Account Opening Documents
  • Affidavit
  • Hardware Configuration Requirements
  • MFS Seller Users Profile
  • MSF Application Form -Broker CM
  • MSF Application Form -NBCM
  • MSF Board Resolution
  • MSF Seller Authority Letter
  • MSF Seller Particulars of CEO and Directors
  • MSF Seller Signature Card
  • Murabaha Share Financing Seller Agreement
  • Murabaha Share Financing Seller Tripartite Agreement
  • MSF Buyer Letter
  • Seventh Addendum for MSF Buyer
• Agreements
  • Agency Agreement - Between Customer and Securities Broker
  • Agency Agreement - Between Non-Broker MSF Seller and Securities Broker
  • Master Murabahah Agreement - By Non-Broker MSF Seller to Customer of Securities Broker
  • Master Murabahah Agreement - By Non-Broker MSF Seller to Securities Broker
  • Master Murabahah Agreement - By Securities Broker to its Customer
  • MSF Agreement - Between MSF Seller and MSF Buyer