Glossary
Bursa Suq Al-Sila'
A Malaysian commodity trading platform built so banks can carry out the commodity buying and selling that tawarruq contracts require.
سوق السلعsūq al-sila'
Bursa Suq Al-Sila' is a commodity trading platform operated in Malaysia that supports Shariah-compliant commodity transactions, typically in crude palm oil, used as the underlying leg of tawarruq and commodity murabahah products. Its existence is exactly what the debate over organised tawarruq is about: it makes the commodity trades real and traceable, and it also makes them automatic and instantaneous, which is what critics say turns the chain into a formality. This entry describes the platform's role in the structure; its operating rules were not read in this research pass.
Related terms
TawarruqBuying something on credit and selling it on for cash, so you end up with money now and a bigger bill later without paying interest.MurabahahA sale where the seller tells you what the goods cost and what profit is being added, and you pay later.SACShariah Advisory Council: Malaysia's national body whose rulings on Islamic finance bind the industry and are a reference for the courts.
Sources
- The platform's own rulebook was not read in this pass; the connection to tawarruq is drawn from AAOIFI Shariah Standard No. (30) and Bank Negara SAC tawarruq resolutions