Certificates of equal value (sukuk) which are issued for the purpose of financing the purchase of goods based on murabaha contract. The sukuk holders become the owners of the underlying goods. These sukuk are typically issued by the seller of the murabaha goods, while the subscribers are the buyers of those goods. The funds realized from the sukuk issue are used to purchase the underlying goods. Being the owners of the murabaha goods, the sukuk holders are entitled to receive its sale price.

Shari’a doesn’t permit trading in murabaha sukuk after the goods have been delivered to the buyer. However, this is permissible after purchasing the murabaha goods and before selling them to the potential buyer.

Murabaha sukuk (صكوك المرابحة) are also referred to as sukuk al murabaha.