PILLARS OF MURABAHAH

The pillars of Murabahah are :

1. The Seller
- A seller is an individual who exchanges their goods or services in return for
payment. In the market system, sellers are known as individuals who offer their
goods or services their products for others to buy. Seller in murabahah is
associated with the form of sale of goods in order to generate profit on the sale of
their goods or services. The selling price must be in line with the clearly stated
profit margin during the sale activity.

2. The Buyer
- A buyer is an individual who pays for a service or goods that he wants to own or
resell. The buyer can also be identified as the person who buys the goods and
usually the buyer can buy the goods or services and resell them to another
individual, company or agency. According to Murabahah, the exchange of goods
takes place where the buyer buys goods from the seller according to the profit
margin that has been determined by the seller during the activity of buying goods
to the buyer.

3. Merchandise or goods
- Merchandise or goods are goods or services that are in the situation of selling
goods in the market system. It is also identified in more detail in the market
because goods or services are sold on their own retail sales as goods to consumers.
Merchandise or goods must have a label or description of the goods before selling.
Goods or services must be owned by the seller so that the buyer feels more secure
to make the purchase of the merchandise or service.

4. The price
- Price is the amount of money required or given as proof of payment to the seller to
show that the exchange activity involves between money and goods. The price
should be evaluated through the value of currencies such as Ringgit Malaysia
(RM), Dollar and so on. This is because all countries have their own currency
values and they vary. The value of the currency should be according to the
 absolute amount to make a payment for a good or service. This also involves
buying and selling activities.

5. The sighah that offer (ijab) and acceptance (qabul)

- All parties who want to enter into a Murabahah contract must follow all the
conditions of the sale of the contract in Islam such as free from usury, must accept
each other, acceptance must be the same and so on. In addition, all contracting
parties must enter into a contract through offer and acceptance between the
contracting parties. Offers and acceptance can be expressed by Shariah that
recognized methods such as oral, written and others. The term or conditions of
this contract which have been mutually agreed by the stakeholders and in
accordance with sharia will bind the contracting party

https://www.slideshare.net/emkay84/isb540-chapter-8