What is the ruling on purchasing a car through the Murabaha formula applied by Al Baraka Islamic Bank?

The basic principle is that dealing with Islamic banks is permissible, unless it becomes clear to the customer that the bank is conducting a transaction that violates Islamic law, in which case dealing with it in that particular transaction becomes impermissible. As for Murabaha sale to a purchasing agent, it is permissible if the bank acquires ownership of the commodity and possesses it before selling it, bearing the responsibility for its perishing or returning due to a hidden defect. Then, it sells it to the customer for a price known to both parties and not subject to increase if payment is delayed.