Shariah Financing Solutions
What is Shariah Financing?
Shariah financing refers to those financial products and services that conform to the Shariah. Unlike conventional financing, which is based on interest and speculation, Shariah financing anchors on the principles of justice, transparency, and ethical investments. This mode of funding intends to bring finances in complete accordance with the ideals of Islam so that both the transacting parties benefit equitably and the investment made serves society’s greater good.
Terms and Conditions
Riba:
Interest is forbidden in Islamic finance since it represents an exploitative and unjust practice.
Ijara
A leasing agreement whereby the lender purchases an asset and leases it to the borrower who makes rental payments for use over the agreed lease period.
Mudarabah
A type of partnership in which one party offers capital, the other contributes management expertise, and profits are divided in a predetermined ratio.
Musharakah
A type of joint venture in which all partners provide capital and share profits and losses in the ratio of capital inputs made into the business venture.
Murabaha
A cost-plus financing arrangement where the lender buys an asset and sells it to the borrower at a profit margin agreed in advance.
Shariah Financing Solutions at Amity Mortgages
Home Financing
Our Shariah-compliant home finance solutions provide an alternative to common mortgages. Murabaha (cost-plus financing) and Ijara (leasing) allow you to buy or refinance your house in a way that reflects your values.
Business Financing
For businesses seeking Shariah-compliant funding, we have a range of innovative financing products based on the concepts of Mudarabah, profit-sharing, and Musharakah, or joint venture. This shall enable you to achieve business growth without compromising on ethical financial practices.
Personal Financing
Be it a personal loan or financing for special projects, our Shariah financing solutions come with flexible terms that avoid interest charges and support your financial needs ethically.
Consultation and Guidance
Our team of experts will provide you with personal consultation on how to deal with any kind of Shariah financing option. We make sure that your financial decisions are in full compliance with Islamic principles and tailored to meet your needs in every respect.
How We Work?
Initial Consultation
We shall begin with an extensive consultation to understand your needs and requirements of finance, and goals, to ensure that our Shariah financing solutions meet your needs.
Tailored Solutions
Application Process
Our application process is easy, and you will get timely and efficient service, including clear communication on what is happening at every step.
Approval and Payment
In case of approval of your application, we will arrange for a funds transfer and mention all the terms involved and full compliance with those terms.
Ongoing Support
We’ll support you further and advise on how to ensure the continued compliance of your Shariah financing solution with your needs and the principles of Islam.