The short-term and long-term receivables to a murabaha seller (such as an Islamic bank) for commodities sold on credit (open account). This represents the money (commodity price plus a specific mark-up) owed by a murabaha purchaser to the seller. An Islamic bank records murabaha receivables at the time of trade at their face value.

At the end of the financial period, they are measured at their cash equivalent value (CEV) which is the amount of debt due at the end of the financial period minus any provisions for doubtful debts. Shari’a doesn’t permit creating a negotiable instrument based on murabaha receivables. Therefore, those receivables cannot be securitized for issuing negotiable sukuk (murabaha sukuk) that can be traded in the secondary market. However, transfer of murabaha receivables to a third party must be at face value and its assignment (hawala) must also be at face value.