Is the car sale method adopted by the Jordan Islamic Bank, based on Murabahah, which involves paying a down payment and installments for the remainder, along with a nominal waiver from the car owner to the bank, followed by a waiver from the bank to the client with the car being mortgaged to the bank, considered Sharia-compliant?

Murabaha sale conducted by Islamic banks is permissible if the bank adheres to the Sharia (definition) guidelines. These include the bank genuinely purchasing the commodity and it entering into its possession, then selling it to the client. It is not necessary to transfer the commodity to the bank's warehouses; merely transferring ownership is sufficient. There is no objection to the client bearing the cost of transferring ownership and adding it to the car's price by mutual agreement, as this amount is considered an advance payment of the price. It is also permissible to mortgage the commodity with the bank until the full price is paid.