Has Bank AlJazira become an Islamic bank, or are its loans of the prohibited organized Tawarruq type?

We have previously explained the prohibition of dealing with organized banking Tawarruq (monetization). The bank's website states: "Financing Tawarruq: Bank AlJazira has developed a program called 'Dinar' which is considered the Sharia-compliant alternative for cash financing. In this program, the bank sells a commodity on a Murabaha basis with deferred payment terms to the client in need of cash. Afterwards, the client authorizes the bank to sell it for immediate cash in the international or local market, and then the proceeds are collected and deposited into the client's account. All of this is done in record time and at low costs." Dr. Muhammad Al-Osaimi (may Allah preserve him) was asked about the ruling on metal financing from Bank AlJazira, and he replied: "I do not see the permissibility of Tawarruq in metals unless the client takes possession of them, and then sells them to a merchant other than the one from whom the bank purchased. Since none of that occurs, it is impermissible." In summary, there is no harm in purchasing a commodity owned by the bank, and then selling it yourself to obtain cash, but you are not permitted to authorize the bank to sell it on your behalf. Tawarruq is not called borrowing; rather, it is a buying and selling transaction to obtain cash.