Products
PIM Products
IJARA
This Financing is based on the principle of Al-ljarah. By definition, Al-ljarah is a contract where the benefits/use of an asset is transferred by the owner (lessor) to the lessee at an agreed price/rental amount for an agreed period of time or Ijarah period. During the period the Ownership of the assets remains with PIM.
DIMINISHING MUSHARAKA
In Arabic it is called Shirkat-ul-Mutanaqisa. Diminishing Musharaka is just a Musharaka with an additional feature of decreasing ownership of one party. This differs from normal Musharaka, Where ownership ratio does not change.
MURABAHA
Murabaha is a non-participatory mode of Islamic financing where the PIM sells the asset required by its client to the client on cost-plus profit basis. The asset is purchased by the PIM and carries the risk of any loss or damage to the asset as long as the asset remains under its ownership.
Musharaka
Musharaka (participation), i.e. two sides make a joint contribution to the capital of the company/project, and share in profits/losses on a pro rata basis.
Musharaka (participation), i.e. two sides make a joint contribution to the capital of the company/project, and share in profits/losses on a pro rata basis.
SALAM
A Salam, (sometimes referred to as Salaf) is a short-term agreement in which a financial institution makes full prepayments for future delivery of a specified quantity of goods on a specified date.
A Salam is primarily a deferred delivery sale contract usually used for commodity finance.
ISTISNA
Istisna’a is a sale contract between the FIM as Al-Sani (the seller) and the customer as Al-Mustasni (the ultimate purchaser) whereby the PIM.
It is defined as “a contract with a manufacturer to make something “or” a contract on a commodity on liability with the provision of work.