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Al-Ijarah Thumma Al-Bai

AM PUNYA SLIDES

AL-IJARAH THUMMA AL BAI (AITAB)


DEFINITION
owning certain asset at the certain period of time by paying an agreed sum of rental with an agreement that the owner of the asset will transfer the ownership of the rental asset to the hirer at the end of the agreed period or during the period of the contract which highlight that all the payments should be completed by installments or lump-sum amount.

AL-IJARAH THUMMA AL BAI (AITAB)


Widely used in the application of hirepurchase agreement. Buying of motor vehicles. It is a hybrid contract which combine : Ijarah (Leasing/Hiring) al- Buy (Sale/Purchase)

AL-IJARAH THUMMA AL BAI (AITAB)

MUAMALAT HIRE PURCHASE-I (MPH-i/AITAB)

FEATURES : Financing based on the contract of Al-Ijarah Thumma Al-Bai (hire purchase); The Bank purchases the vehicle identified by the customer from a dealer / third party; The vehicle to be financed by the Bank can either be new or used and of any make and models including national or non-national brands; Margin of finance is up to 85%; Payment period is up to 7 years.

BENEFITS : Fixed rental rate; Rebate will be given for early settlement cases; No security deposit required Comprehensive Takaful coverage with profit-sharing features (Mudharabah concept);

Convenient on-line payment facility at all our branches on real time basis.