A secure GSM-based electronic Murabaha transaction

摘要

The Islamic economic system prohibits payment and receipt of interest on deposits and loans. As a result, Islamic banks offer financial instruments consistent with Islamic beliefs, e.g. Murabaha. A customer wishing to purchase goods requests the Islamic bank to purchase these items on his behalf and then sell them to him, with a certain amount of profit agreed upon added to the initial cost. The basic component of Murabaha is that the seller discloses the actual cost he has incurred in acquiring the goods, and then adds some profit thereon. Electronic payment protocols have been proposed to allow electronic commerce transactions based on Murabaha. This protocol requires the buyer to have a key pair for a digital signature scheme. This work presents a method for mobile secure electronic Murabaha transactions; this method uses a combination of the Internet, a GSM mobile device, and a hash-chain scheme related to S/KEY.