Patent ID: 7797225
Filing Date: 2010-09-14
Classification: G06Q

Abstract:
1. A method implemented by a computer system for administering an investment note compliant with Sharia principles, the investment note issued by an issuer to an investor, the method comprising: receiving from the investor through the computer system a purchase payment for the investment note; issuing, through the computer system, the investment note to the investor; paying by the issuer to an agent net proceeds of the purchase payment, via the computer system, wherein an agency contract is established between the agent and a trustee, wherein the agent acts on behalf of the trustee and the trustee acts on behalf of the investor, and a unilateral purchase agreement is established between the agent and the issuer under which the issuer promises to buy commodities from the agent, wherein the net proceeds satisfy a payment amount under the agency contract; purchasing a commodity by the agent, via the computer system, such that the agent holds title to the commodity on behalf of the trustee on the same day that the investment note is issued; and selling, via the computer system, the commodity by the agent to the issuer under the unilateral purchase agreement.