What is the ruling on the permissibility of trading funds at banks?

Question:
There is a fund at one of the banks called the Global Trading Fund. The employee at this bank says that this fund is based on the principle of Islamic murabahah (cost-plus sale). If a merchant needs a certain commodity, the bank imports that commodity for him through this fund. The minimum subscription amount is ten thousand dollars. The profit is between eight and nine percent. The bank employee says there is no possibility of loss because the bank does not import any commodity except upon the merchant's request. Is it permissible to subscribe to this fund?

Answer:
If you trust those in charge of it and know that what they said is true, that it is based on murabahah, and that the profit is shared, not a fixed profit of five percent or ten percent or similar, but rather shared, and this profit is distributed among the owners of the capital according to the agreement between them and the bank, then this is of the same kind as what merchants do in buying and selling through mudarabah (profit-sharing partnership) and the like. Mudarabah is permissible by scholarly consensus. It is when a person gives money to another on the condition that he sells and buys with it, sharing the profit by half, or a third, or a quarter, or a tenth. He says to you: this money is ten thousand riyals, or one hundred thousand riyals, or dollars; sell and buy with it, and whatever profit is obtained, half is for me and half is for you, or three-quarters is for me and a quarter is for you, or something similar. If this bank operates in this manner and you trust those in charge of it in their religion and their truthfulness, then there is no harm. Otherwise, a person should beware of entangling himself in riba (usury or interest). Yes.