i) nbfislamic Inthe Name of ll, The Beneficent, The Merciful Date: 30° day of December 2014 [FATWA WITH RESPECT TO ISLAMIC TRADE FINANCE PRODUCTS ‘We, the undersigned the scholars composing the National Bank of Fujairah PSC Division ("the Bank) Shariah Supervisory Board ('SSB") have been presented withthe below mentioned structures and documents pertaining to the Islamic Trade Financing Products Islamic Finance ( Product") for our Sarish review and approval. “The Products are based on a numberof contracts namely Seno | Trade Product Tslanie Contact ype T | Letter of reat Sighe ‘Walala and Katfala with fee 2 | LeWerof Credit Usance | Wakala and Kafala with fee 3 [better of Gredit (Bnd por) ~ | Wakala and Kafalawithfee Sight /Usance F__ [rust Receipt Le sight ‘Maratha tothe Purchase Orderer (PO) | Trust Receipt= UCUsance | Muratiaha othe Purchase Onderer (PO) | rust Receipt ~ LC (rd Port) | Murabaha tothe Purchase Onderer (MPO) sight/usance 7 | Trust Receipt= Collections | Wakala / Commodity Wurabaha | TrastReseipe= Open Account 7 | Commodity Marabaha Direct Timport Collections Wa To _| Avalzation ‘Walla and Waster Murabaha Agreement verninersetmnceretcs ES 6 Qosrr Guarantees ~Alliypes | KafalawithTee |» Payment Guarantees > Performance Guarantees > Bid Bond Guarantees > Advance Payment Guarantees > ‘Retention Bond | > warranty / Maintenance Bonds > Financial Guarantee (only for Sharia compliant financing) > Labour Guarantee Ta __| Shipping guarantee Ts agreed at the SSH mesting of the 18th of November the FX rate will be partf the cost and there will be no mark up on this extra cost {incurred by the Hank ~ with no profit exgible on Underlying contract Kala with fee ‘The Products incorporate a number of security documents that have been separately approved by the ss. ‘Weapproved the underlying contracts fr the Products at our Shariah Supervisory Board meeting, ofthe 14% of Apri!2014 andhave since been presented with detalled structures znd process lows, forthe Product by virtue ofan Executive summary delivered onthe 8 of December 2014 ‘The Products have the following documentation ("the Documents”) that have been brought before us for approval 1. Application to lsue revocable documentary credit 2. Application to amend documentary credit 3. Application to issue guarantee varie rmeraies > *a~eApplication to amend guarantee Applicaton to issue shipping guarantee ‘Murabaha tothe Purchase Orderer Facility Agreement Agency Agreement for import financing, Commodity Murabaha facility agreement Wakala agreement Pursuant to our review of the above Document, we are of the opinion that the Islamic Trade Financing Products arein compliance with Sarlah principles Allah Aimighoy knows bese. Dr. Mohamed Al Elgar (Chairman) Dr. Mohd Datid Bakar (Member) Dr. Muhammad Amin Ali Qattan (Member) Dr. Osama Al- Dereai (Member)