Import financing is the most important part of trade finance. Financial institutions play an important role in providing import finance. That is why for importing goods, importer takes services from financial institutions. The conventional financial institute provides its services in the form of Letter of credit (LC). Financial institute charge against opening LC and interest
Before becoming a Prophet, Muhammad s.a.w was a merchant in Mecca and Khadijah His Wife, was a rich businesswoman during her time. Thus, Islam takes high regard in the pursuit of business. Islam teaches business conducts. As firms can be viewed as a set of contracts, it entails the relationship the firm has with suppliers,