Diminishing musharakah
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Diminishing Musharakah is an Islamic financing structure where the bank and customer jointly own an asset, with the customer gradually purchasing the bank's shares over time until becoming the sole owner. It is commonly used to finance fixed assets like homes, cars, and machinery. The bank and customer establish a joint ownership agreement and partnership, with the customer leasing the bank's shares and making periodic purchase payments until full ownership is transferred. This gradual transfer of ownership from bank to customer makes Diminishing Musharakah sharia compliant.
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Diminishing musharakah
Diminishing Musharakah is an Islamic financing structure where the financier and client jointly own an asset. The financier's share is divided into units that the client purchases over time through separate sale contracts, eventually becoming the sole owner. It involves three components: joint ownership through a Musharakah agreement between the bank and client, the client leasing the bank's share and paying rent, and the client gradually redeeming the bank's share by purchasing units. All schools of Islamic jurisprudence permit joint ownership and leasing one's share to a partner. The transactions cannot be combined but must occur independently through promises. An example shows a client obtaining 90% financing for an asset costing $300 million, with
Murabaha final presentation
This document provides an overview of Murabaha, an Islamic financing structure. It defines Murabaha as a sale where the seller discloses the cost of an item and sells it for a higher price, adding a known profit. The document outlines the difference between Murabaha and Musawamah sales, basic rules of Islamic sales, evidence for Murabaha's validity, how it is structured as a financing transaction, potential issues, and mistakes to avoid. It concludes that Murabaha must be implemented carefully according to Islamic principles, as a legitimate sale rather than an interest-based loan.
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The document discusses Musharakah, which is an Islamic financing structure based on profit-and-loss sharing partnership. It defines Musharakah and various types of Shirkah (partnership). It also describes how Musharakah works as a financing model, including diminishing Musharakah. The key differences between interest-based financing and Musharakah are that Musharakah shares profits and losses between partners according to contribution ratios, while interest guarantees a fixed return. The document proposes using market prices and rental data rather than interest rates to determine profit rates for Musharakah financing.
Musharakah in Islamic Finance by Camille Paldi
Musharakah is an Islamic financing structure where two or more parties agree to contribute capital to a business venture with the goal of sharing profits and losses. It is a form of partnership permitted under Islamic law. The document discusses the definition of Musharakah according to Bank Negara Malaysia, how profits and losses are shared, examples of how it can be applied, its origins in the Quran and hadith, and the consensus of Muslim jurists that it is valid.
Presentation1 (1)
Mudarabah is an Islamic contract where one party provides capital to another party for investing in a commercial enterprise. The capital provider is called rabb-ul-mal and the manager is called mudarib. Profits are shared according to a predetermined ratio, while losses are solely borne by the capital provider except in cases of misconduct or negligence by the mudarib. There are two main types of mudarabah - restricted and unrestricted. The contract can be terminated by either party with notice. Mudarabah is used by Islamic banks to accept deposits and invest funds on behalf of depositors based on profit and loss sharing. However, there are also risks involved for the banks in applying mudarabah.
Murabaha INTRODUCTION
Murabaha is an Islamic financing structure where a financial institution purchases an asset for a customer and sells it to them at an agreed upon markup. The document defines Murabaha, provides examples of how it works, and answers common questions about the process. Key points include:
- In Murabaha, the cost of the asset and the pre-agreed profit amount must be disclosed to the customer.
- The financial institution purchases the asset then sells it to the customer for a higher price paid in installments or all at once.
- The customer can be appointed as an agent to select the asset on behalf of the bank.
Bai salam & istisna
The document discusses the Islamic financing contracts of Salam and Istisna. Salam allows payment in advance in exchange for deferred delivery of goods, while Istisna is used for manufacturing goods where the price is paid in installments over time or on delivery. Both contracts aim to fulfill financing needs and provide alternatives to interest-based loans. Key conditions and differences between the two contracts are outlined.
istisna’
The document discusses the concept of Istisna' in Islamic finance. Istisna' is a contract where a buyer requests a seller to manufacture a specific asset. Some key points:
- Istisna' allows a manufacturer to produce an asset for a buyer according to agreed specifications, with payment made in installments or upon delivery.
- It differs from Salam in that the asset in an Istisna' contract does not yet exist. The manufacturer produces the asset from raw materials.
- Istisna' contracts can be used to finance projects like home construction or infrastructure development, with payments made during and after production.
- Risks include non-delivery by
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Diminishing musharakah
Diminishing Musharakah is an Islamic financing structure where the financier and client jointly own an asset. The financier's share is divided into units that the client purchases over time through separate sale contracts, eventually becoming the sole owner. It involves three components: joint ownership through a Musharakah agreement between the bank and client, the client leasing the bank's share and paying rent, and the client gradually redeeming the bank's share by purchasing units. All schools of Islamic jurisprudence permit joint ownership and leasing one's share to a partner. The transactions cannot be combined but must occur independently through promises. An example shows a client obtaining 90% financing for an asset costing $300 million, with
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This document provides an overview of Murabaha, an Islamic financing structure. It defines Murabaha as a sale where the seller discloses the cost of an item and sells it for a higher price, adding a known profit. The document outlines the difference between Murabaha and Musawamah sales, basic rules of Islamic sales, evidence for Murabaha's validity, how it is structured as a financing transaction, potential issues, and mistakes to avoid. It concludes that Murabaha must be implemented carefully according to Islamic principles, as a legitimate sale rather than an interest-based loan.
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The document discusses Musharakah, which is an Islamic financing structure based on profit-and-loss sharing partnership. It defines Musharakah and various types of Shirkah (partnership). It also describes how Musharakah works as a financing model, including diminishing Musharakah. The key differences between interest-based financing and Musharakah are that Musharakah shares profits and losses between partners according to contribution ratios, while interest guarantees a fixed return. The document proposes using market prices and rental data rather than interest rates to determine profit rates for Musharakah financing.
Musharakah in Islamic Finance by Camille Paldi
Musharakah is an Islamic financing structure where two or more parties agree to contribute capital to a business venture with the goal of sharing profits and losses. It is a form of partnership permitted under Islamic law. The document discusses the definition of Musharakah according to Bank Negara Malaysia, how profits and losses are shared, examples of how it can be applied, its origins in the Quran and hadith, and the consensus of Muslim jurists that it is valid.
Presentation1 (1)
Mudarabah is an Islamic contract where one party provides capital to another party for investing in a commercial enterprise. The capital provider is called rabb-ul-mal and the manager is called mudarib. Profits are shared according to a predetermined ratio, while losses are solely borne by the capital provider except in cases of misconduct or negligence by the mudarib. There are two main types of mudarabah - restricted and unrestricted. The contract can be terminated by either party with notice. Mudarabah is used by Islamic banks to accept deposits and invest funds on behalf of depositors based on profit and loss sharing. However, there are also risks involved for the banks in applying mudarabah.
Murabaha INTRODUCTION
Murabaha is an Islamic financing structure where a financial institution purchases an asset for a customer and sells it to them at an agreed upon markup. The document defines Murabaha, provides examples of how it works, and answers common questions about the process. Key points include:
- In Murabaha, the cost of the asset and the pre-agreed profit amount must be disclosed to the customer.
- The financial institution purchases the asset then sells it to the customer for a higher price paid in installments or all at once.
- The customer can be appointed as an agent to select the asset on behalf of the bank.
Bai salam & istisna
The document discusses the Islamic financing contracts of Salam and Istisna. Salam allows payment in advance in exchange for deferred delivery of goods, while Istisna is used for manufacturing goods where the price is paid in installments over time or on delivery. Both contracts aim to fulfill financing needs and provide alternatives to interest-based loans. Key conditions and differences between the two contracts are outlined.
istisna’
The document discusses the concept of Istisna' in Islamic finance. Istisna' is a contract where a buyer requests a seller to manufacture a specific asset. Some key points:
- Istisna' allows a manufacturer to produce an asset for a buyer according to agreed specifications, with payment made in installments or upon delivery.
- It differs from Salam in that the asset in an Istisna' contract does not yet exist. The manufacturer produces the asset from raw materials.
- Istisna' contracts can be used to finance projects like home construction or infrastructure development, with payments made during and after production.
- Risks include non-delivery by
Islamic Banking and Finance
The document discusses the history and growth of Islamic banking, particularly in the Middle East. It outlines opportunities for Canadian companies and financial institutions to become involved in Islamic finance. The key points are:
- Islamic banking has grown significantly since the 1970s, especially in Malaysia, the Gulf, and the UK. It provides financing compliant with Sharia law like murabaha and sukuk bonds.
- The sector grew after 9/11 due to reverse capital flight to the Middle East and increased oil prices. Major banks now have Islamic windows to serve Muslim clients.
- Islamic finance is a large and growing sector, estimated between $250-750 billion. It provides capital for sovereign and corporate debt, project finance, and
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The document discusses the sale of debt (bay' al dayn) under Islamic finance. It notes that while the sale of debt for another debt is prohibited, the sale of debt for cash to the debtor or a third party is permissible under certain conditions, such as payment being on a cash basis and the debtor confirming the debt. The document also examines various structured finance contracts used in Islamic bonds and Islamic accepted bills to facilitate the sale of debt in a Sharia-compliant manner.
Diminishing Musharakah MBL
Diminishing Musharakah is an Islamic financing structure where a bank and customer establish a joint ownership over an asset, with the bank owning most of the initial shares. The customer pays rent on the bank's shares and gradually purchases shares from the bank over an agreed period, eventually becoming the sole owner. It involves three components - joint ownership, the customer leasing the bank's shares, and redeeming the shares over time. It is commonly used to finance fixed assets like homes, cars, and machinery. The structure is permissible under Shariah as joint ownership and leasing of shares to a partner are allowed, and the customer's promise to purchase shares can be binding through unilateral promises.
Musharkah CONCEPT
Here are the steps to setup the Musharakah company for Case 1:
1. Partner A and Partner B form a Musharakah company on Jan 1 with a capital contribution of Rs. 10 million and Rs. 5 million respectively.
2. The company operates throughout the year and earns a profit of Rs. 3 million by Dec 31.
3. As per the agreed ratio, the profit of Rs. 3 million is distributed between Partner A and Partner B in the ratio of their capital contribution i.e. Partner A receives Rs. 2 million (10/15 of Rs. 3 million) and Partner B receives Rs. 1 million (5/15 of Rs. 3 million).
4.
Salam and istisnaa !
This document provides an overview of Salam and Istisna contracts in Islamic finance. It defines Salam as a sale where the price is paid in full at the time of contract for goods to be delivered in the future. Istisna is defined as a sale of goods to be manufactured, where the price is not necessarily paid in full up front. The document outlines the conditions for each contract and differences between them, such as payment terms and ability to cancel. It also discusses how Istisna can be used to structure financing agreements, such as for construction projects.
The Different Modes of Islamic Finance
The document summarizes several key Islamic financing modes:
1) Murabahah is a cost-plus sale where the bank discloses costs and sells an asset to a customer on a deferred payment plan at a markup. Salam and istisna'a are used for agriculture and project financing respectively, allowing for advanced payment in exchange for future delivery of goods or projects.
2) Ijarah is an Islamic lease where the bank owns an asset and leases it to a customer for rental payments over a set period, after which the asset is either returned or sold to the lessee.
3) Each contract has specific steps and conditions to ensure compliance with Sharia principles like prohibition of interest and uncertainty
Topic 3 istisna
This document defines and discusses the Islamic financing contract of bay' al-istisna'. It begins by defining istisna' as a contractual agreement with a manufacturer to produce specified goods at an agreed upon price using their own materials and labor. The document then covers evidence for its legitimacy, the key pillars of an istisna' contract, different types including classical and parallel istisna', conditions, differences from salam contracts, and modern applications for istisna' financing such as for industrial production or real estate development.
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This document discusses mudarabah agreements as a mode of Islamic financing. It defines mudarabah as a partnership where one partner provides capital and the other provides management and labor to invest in a business venture, with profits shared according to a predetermined ratio. It distinguishes mudarabah from musharakah, and outlines the types and conditions of mudarabah agreements, including distribution of profits and losses. It also discusses how mudarabah and musharakah can be combined or used to finance various transactions and projects.
Takaful (Islamic Insurance)
This document summarizes the key differences between conventional insurance and Islamic insurance (takaful). Takaful is based on risk-pooling and mutual protection among policyholders, rather than risk transfer from policyholders to insurers. It avoids elements of riba (interest), gharar (uncertainty), and maisir (gambling) through a cooperative donation scheme where participants contribute to a common fund to make payouts to those affected by losses. While based on tabarru (donation), takaful also provides participants rights to claim compensation, so it is considered a qualified rather than pure tabarru contract.
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Ijarah is a lease contract that allows the transfer of usufruct or benefit of an asset for an agreed upon rental payment over a specified period of time. There are two main types of ijarah: operating ijarah, which is a basic lease; and financial ijarah (ijarah muntahia bittamleek), where ownership is transferred to the lessee at the end of the lease period. The document outlines various rules and conditions for ijarah contracts including asset identification and ownership, rental determination, risk and responsibilities of lessor and lessee, and termination conditions. It also discusses the accounting treatment and application of ijarah. Diminishing musharakah is described as
Presentation on Salam
This document discusses the concept of Salam in Islamic finance. It begins by covering the basic conditions for a valid sale under Sharia law. It then defines Salam as a contract where the buyer pays in advance for goods to be delivered at a future date. The document outlines the Sharia legitimacy of Salam based on references from the Quran and hadith. It also discusses the wisdom and benefits of allowing Salam contracts, including fulfilling sellers' cash needs. The key conditions of a Salam contract are that the commodities must be specified and fungible goods, and that the price is paid in full upfront.
Musharakah, Mudarabah, Riba, Islamic modes of financing
This document discusses various Islamic financing concepts including musharakah, mudarabah, and prohibitions on riba. It provides definitions and rules for each:
Musharakah is a partnership where two or more parties contribute capital and labor to a business, sharing profits and losses. Mudarabah involves one party providing capital (rabb-ul-mal) and another providing labor (mudarib), with profits shared according to agreement. Riba refers to interest charged on loans, which is prohibited in Islam as it is unjust. The document outlines other Islamic modes of financing like project financing, securitization of musharakah, and using these structures for working capital or single transactions.
Presentation ijarah & dm
Ijarah is a lease contract that allows the transfer of ownership of an asset to another party for an agreed upon rental payment over a specified period of time. There are two main types of Ijarah: operating Ijarah, which does not include transfer of asset ownership at the end of the lease, and financial Ijarah (Ijarah Muntahia Bittamleek), where ownership does transfer to the lessee. The basic rules of Ijarah require that the rental amount and lease period be clearly defined upfront. Diminishing Musharakah is a partnership concept where one partner's ownership stake gradually decreases over time as the other partner purchases more shares.
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1. Mudarabah is a type of partnership where one partner provides capital to another to invest in a business venture, with profits shared according to a predetermined ratio.
2. There are two types of Mudarabah: restricted, where the capital provider specifies the business or place of investment, and unrestricted, where full freedom of investment is given.
3. In a Mudarabah, the capital provider is called Rab-ul-Maal and the manager is called Mudarib. The Mudarib acts as a trustee, agent, partner, and is liable for negligence, while also being entitled to a fee if the Mudarabah is terminated.
Diminishing Musharakah
1) Diminishing musharakah is an Islamic financing structure where the bank and customer are partners in purchasing an asset like a home, with the bank paying most of the purchase price initially.
2) Over time, the customer makes regular payments to purchase shares of the bank's ownership stake in the home, thereby gradually acquiring more ownership until they own the home outright.
3) This structure links financing to the real asset sector and involves risk and reward sharing between bank and customer as co-owners, unlike conventional mortgages where only the customer bears risk.
Unit 4 (diminishing musharakah
The document describes the concept of Diminishing Musharakah, an Islamic financing structure where a bank and customer jointly own an asset. The bank owns most of the asset initially. The customer uses the asset and pays rent to the bank for its share. Over time, the customer purchases shares from the bank until it owns the entire asset. The key components are joint ownership between the bank and customer, the customer leasing the bank's share and paying rent, and gradually redeeming the bank's ownership share through purchase transactions. Diminishing Musharakah is commonly used for house, car, and equipment financing in accordance with Islamic principles of shared ownership.
Presentation on istisna
This document discusses the Islamic financing contract of Istisna. It begins by defining Istisna as an agreement for the sale of goods to be manufactured or constructed at a future date, with an agreed upon price.
It outlines the key parties and conditions of an Istisna contract, including specifying the subject matter to be manufactured, stating the price and delivery terms. It also discusses penalties for late delivery and payment terms.
The document compares Istisna to other Islamic contracts such as Salam and Ijarah, highlighting the differences. It then explores some potential applications of Istisna contracts in Islamic banking such as financing construction projects.
In closing, it argues that I
shirkah dan mudharabah
Shirkah refers to partnership in Islamic commercial law. There are two main types: shirkah al milk which is joint ownership of property, and shirkah al 'aqd which is a joint commercial enterprise where partners share capital and profit. Mudharabah is a specific type of partnership where one partner provides capital to another to invest in a business venture. The capital provider shares profit according to a profit ratio but bears any losses. Double mudharabah allows the capital from one mudharabah partnership to be invested in another mudharabah contract.
Diminishing musharakah presentation_02-06-08
AlHuda Centre of Islamic Banking and Economics,
www.alhudacibe.com,Presentaion by Alhuda CIBE ON MODARABA
Diminishing musharakah mbl
This document provides an introduction to the concept of Diminishing Musharakah, an Islamic financing structure. It outlines the basic structure which involves the bank and customer entering into a joint ownership agreement for an asset, with the bank owning a specified number of units. The customer uses the bank's share and gradually purchases the units over time through separate sale transactions, eventually becoming the sole owner. The key Shariah principles are that joint ownership and leasing of owned shares are allowed, while promises to purchase shares in the future are also permitted. An example is provided where a customer obtains 90% financing from the bank to purchase an asset, with the bank's share purchased over 5 years by the customer.
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The document discusses the history and growth of Islamic banking, particularly in the Middle East. It outlines opportunities for Canadian companies and financial institutions to become involved in Islamic finance. The key points are:
- Islamic banking has grown significantly since the 1970s, especially in Malaysia, the Gulf, and the UK. It provides financing compliant with Sharia law like murabaha and sukuk bonds.
- The sector grew after 9/11 due to reverse capital flight to the Middle East and increased oil prices. Major banks now have Islamic windows to serve Muslim clients.
- Islamic finance is a large and growing sector, estimated between $250-750 billion. It provides capital for sovereign and corporate debt, project finance, and
Musharakah & diminshing musharaka
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www.alhudacibe.com
Application of bay al dayn
The document discusses the sale of debt (bay' al dayn) under Islamic finance. It notes that while the sale of debt for another debt is prohibited, the sale of debt for cash to the debtor or a third party is permissible under certain conditions, such as payment being on a cash basis and the debtor confirming the debt. The document also examines various structured finance contracts used in Islamic bonds and Islamic accepted bills to facilitate the sale of debt in a Sharia-compliant manner.
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Diminishing Musharakah is an Islamic financing structure where a bank and customer establish a joint ownership over an asset, with the bank owning most of the initial shares. The customer pays rent on the bank's shares and gradually purchases shares from the bank over an agreed period, eventually becoming the sole owner. It involves three components - joint ownership, the customer leasing the bank's shares, and redeeming the shares over time. It is commonly used to finance fixed assets like homes, cars, and machinery. The structure is permissible under Shariah as joint ownership and leasing of shares to a partner are allowed, and the customer's promise to purchase shares can be binding through unilateral promises.
Musharkah CONCEPT
Here are the steps to setup the Musharakah company for Case 1:
1. Partner A and Partner B form a Musharakah company on Jan 1 with a capital contribution of Rs. 10 million and Rs. 5 million respectively.
2. The company operates throughout the year and earns a profit of Rs. 3 million by Dec 31.
3. As per the agreed ratio, the profit of Rs. 3 million is distributed between Partner A and Partner B in the ratio of their capital contribution i.e. Partner A receives Rs. 2 million (10/15 of Rs. 3 million) and Partner B receives Rs. 1 million (5/15 of Rs. 3 million).
4.
Salam and istisnaa !
This document provides an overview of Salam and Istisna contracts in Islamic finance. It defines Salam as a sale where the price is paid in full at the time of contract for goods to be delivered in the future. Istisna is defined as a sale of goods to be manufactured, where the price is not necessarily paid in full up front. The document outlines the conditions for each contract and differences between them, such as payment terms and ability to cancel. It also discusses how Istisna can be used to structure financing agreements, such as for construction projects.
The Different Modes of Islamic Finance
The document summarizes several key Islamic financing modes:
1) Murabahah is a cost-plus sale where the bank discloses costs and sells an asset to a customer on a deferred payment plan at a markup. Salam and istisna'a are used for agriculture and project financing respectively, allowing for advanced payment in exchange for future delivery of goods or projects.
2) Ijarah is an Islamic lease where the bank owns an asset and leases it to a customer for rental payments over a set period, after which the asset is either returned or sold to the lessee.
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This document defines and discusses the Islamic financing contract of bay' al-istisna'. It begins by defining istisna' as a contractual agreement with a manufacturer to produce specified goods at an agreed upon price using their own materials and labor. The document then covers evidence for its legitimacy, the key pillars of an istisna' contract, different types including classical and parallel istisna', conditions, differences from salam contracts, and modern applications for istisna' financing such as for industrial production or real estate development.
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Takaful (Islamic Insurance)
This document summarizes the key differences between conventional insurance and Islamic insurance (takaful). Takaful is based on risk-pooling and mutual protection among policyholders, rather than risk transfer from policyholders to insurers. It avoids elements of riba (interest), gharar (uncertainty), and maisir (gambling) through a cooperative donation scheme where participants contribute to a common fund to make payouts to those affected by losses. While based on tabarru (donation), takaful also provides participants rights to claim compensation, so it is considered a qualified rather than pure tabarru contract.
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Ijarah is a lease contract that allows the transfer of usufruct or benefit of an asset for an agreed upon rental payment over a specified period of time. There are two main types of ijarah: operating ijarah, which is a basic lease; and financial ijarah (ijarah muntahia bittamleek), where ownership is transferred to the lessee at the end of the lease period. The document outlines various rules and conditions for ijarah contracts including asset identification and ownership, rental determination, risk and responsibilities of lessor and lessee, and termination conditions. It also discusses the accounting treatment and application of ijarah. Diminishing musharakah is described as
Presentation on Salam
This document discusses the concept of Salam in Islamic finance. It begins by covering the basic conditions for a valid sale under Sharia law. It then defines Salam as a contract where the buyer pays in advance for goods to be delivered at a future date. The document outlines the Sharia legitimacy of Salam based on references from the Quran and hadith. It also discusses the wisdom and benefits of allowing Salam contracts, including fulfilling sellers' cash needs. The key conditions of a Salam contract are that the commodities must be specified and fungible goods, and that the price is paid in full upfront.
Musharakah, Mudarabah, Riba, Islamic modes of financing
This document discusses various Islamic financing concepts including musharakah, mudarabah, and prohibitions on riba. It provides definitions and rules for each:
Musharakah is a partnership where two or more parties contribute capital and labor to a business, sharing profits and losses. Mudarabah involves one party providing capital (rabb-ul-mal) and another providing labor (mudarib), with profits shared according to agreement. Riba refers to interest charged on loans, which is prohibited in Islam as it is unjust. The document outlines other Islamic modes of financing like project financing, securitization of musharakah, and using these structures for working capital or single transactions.
Presentation ijarah & dm
Ijarah is a lease contract that allows the transfer of ownership of an asset to another party for an agreed upon rental payment over a specified period of time. There are two main types of Ijarah: operating Ijarah, which does not include transfer of asset ownership at the end of the lease, and financial Ijarah (Ijarah Muntahia Bittamleek), where ownership does transfer to the lessee. The basic rules of Ijarah require that the rental amount and lease period be clearly defined upfront. Diminishing Musharakah is a partnership concept where one partner's ownership stake gradually decreases over time as the other partner purchases more shares.
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1. Mudarabah is a type of partnership where one partner provides capital to another to invest in a business venture, with profits shared according to a predetermined ratio.
2. There are two types of Mudarabah: restricted, where the capital provider specifies the business or place of investment, and unrestricted, where full freedom of investment is given.
3. In a Mudarabah, the capital provider is called Rab-ul-Maal and the manager is called Mudarib. The Mudarib acts as a trustee, agent, partner, and is liable for negligence, while also being entitled to a fee if the Mudarabah is terminated.
Diminishing Musharakah
1) Diminishing musharakah is an Islamic financing structure where the bank and customer are partners in purchasing an asset like a home, with the bank paying most of the purchase price initially.
2) Over time, the customer makes regular payments to purchase shares of the bank's ownership stake in the home, thereby gradually acquiring more ownership until they own the home outright.
3) This structure links financing to the real asset sector and involves risk and reward sharing between bank and customer as co-owners, unlike conventional mortgages where only the customer bears risk.
Unit 4 (diminishing musharakah
The document describes the concept of Diminishing Musharakah, an Islamic financing structure where a bank and customer jointly own an asset. The bank owns most of the asset initially. The customer uses the asset and pays rent to the bank for its share. Over time, the customer purchases shares from the bank until it owns the entire asset. The key components are joint ownership between the bank and customer, the customer leasing the bank's share and paying rent, and gradually redeeming the bank's ownership share through purchase transactions. Diminishing Musharakah is commonly used for house, car, and equipment financing in accordance with Islamic principles of shared ownership.
Presentation on istisna
This document discusses the Islamic financing contract of Istisna. It begins by defining Istisna as an agreement for the sale of goods to be manufactured or constructed at a future date, with an agreed upon price.
It outlines the key parties and conditions of an Istisna contract, including specifying the subject matter to be manufactured, stating the price and delivery terms. It also discusses penalties for late delivery and payment terms.
The document compares Istisna to other Islamic contracts such as Salam and Ijarah, highlighting the differences. It then explores some potential applications of Istisna contracts in Islamic banking such as financing construction projects.
In closing, it argues that I
shirkah dan mudharabah
Shirkah refers to partnership in Islamic commercial law. There are two main types: shirkah al milk which is joint ownership of property, and shirkah al 'aqd which is a joint commercial enterprise where partners share capital and profit. Mudharabah is a specific type of partnership where one partner provides capital to another to invest in a business venture. The capital provider shares profit according to a profit ratio but bears any losses. Double mudharabah allows the capital from one mudharabah partnership to be invested in another mudharabah contract.
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Diminishing musharakah presentation_02-06-08
AlHuda Centre of Islamic Banking and Economics,
www.alhudacibe.com,Presentaion by Alhuda CIBE ON MODARABA
Diminishing musharakah mbl
This document provides an introduction to the concept of Diminishing Musharakah, an Islamic financing structure. It outlines the basic structure which involves the bank and customer entering into a joint ownership agreement for an asset, with the bank owning a specified number of units. The customer uses the bank's share and gradually purchases the units over time through separate sale transactions, eventually becoming the sole owner. The key Shariah principles are that joint ownership and leasing of owned shares are allowed, while promises to purchase shares in the future are also permitted. An example is provided where a customer obtains 90% financing from the bank to purchase an asset, with the bank's share purchased over 5 years by the customer.
Diminishing Musharakah
This document discusses Diminishing Musharakah, an Islamic financing structure where a bank and customer jointly own an asset. The bank's share is divided into units that the customer purchases over time, increasing their ownership until becoming sole owner. It provides examples of assets financed this way like houses, cars, and machinery. The structure involves creating joint ownership, renting the bank's share to the customer, and the customer purchasing units from the bank over time until owning the asset solely. However, combining all transactions into a single arrangement is not allowed in Islamic law as one cannot make one transaction conditional on another.
MUSHARAKAH
This document discusses the concept of Musharakah, which is an Islamic form of partnership or joint venture. It defines Musharakah, discusses its evidence in the Quran and Hadith, outlines its key pillars and types. It also covers the conditions of Musharakah partnerships, examples like Musharakah Mutanaqisah, and its modern applications.
Diminishing Musharakah By Yahya Asim
Diminishing Musharakah is a type of partnership where one partner gradually purchases the shares of the other partner over time. There are two types: Shirkat-ul-Aqd (joint venture) where partners start a business together, and Shirkat-ul-Milk (joint ownership) where partners jointly purchase an asset. Diminishing Musharakah is commonly used in Islamic banking for house financing through purchase, construction, renovation, or balance transfers, where the bank and client enter a partnership agreement and the client gradually purchases the bank's share of ownership.
Mudarabah
The document discusses the concept of Mudarabah, an Islamic financing structure. Mudarabah is a partnership between an investor and a manager, where the investor provides capital and the manager provides labor/expertise. Profits are shared according to a pre-agreed ratio, while losses are borne solely by the investor. The document outlines the key elements of Mudarabah contracts including capital requirements, management roles, profit/loss distribution, and termination procedures. It also compares Mudarabah to other structures like Musharakah and analyzes various risks in Mudarabah like credit, market, and liquidity risks.
Difference Between Islamic Banking and Commercial Banking & Features of Islam...
Difference Between Islamic Banking and Commercial Banking
& Features of Islamic Economic System in Pakistan
MUDHARABAH
The document defines and discusses the concept of Mudharabah, which is a contract of partnership where one party provides capital and the other provides labor and management. It provides key details on the definition, pillars, categories, conditions and evidence for Mudharabah based on classical Islamic literature. The summary highlights that Mudharabah is a profit-sharing partnership where profits are shared according to a predetermined rate but losses are borne solely by the capital provider.
Alhuda CIBE - Presentation on Diminishing Musharakah
The document discusses Diminishing Musharakah, an Islamic financing structure used for home and asset financing. It provides an overview of the structure, including that it involves a joint ownership partnership between the bank and customer that diminishes as the customer gradually purchases the bank's share of the asset. The presentation outlines the basic transaction structure, applicable Shariah principles, documentation requirements, and provides an illustrative example of the financing process. It also addresses some frequently asked questions about Diminishing Musharakah and how it differs from conventional mortgages.
Musyarakah
Musyarakah is an Islamic financing principle that involves a partnership between two or more parties to invest in a business venture. Profits are shared according to the partnership agreement, while losses are shared in proportion to capital contributions. There are various types of musyarakah partnerships depending on the roles of the partners. Musyarakah mutanaqisah allows a customer's capital share in a project to gradually increase over time through profit distributions and installment payments until full ownership is acquired.
Islamic modes of finance
This document discusses various Islamic modes of financing including musharakah, mudaraba, murabaha, ijara, salam, and istisna. Musharakah involves a joint partnership where profits and losses are shared based on capital contribution. Mudaraba is an arrangement where one party provides the capital and another party manages the business, with profits shared according to a predetermined ratio. The document outlines the step-by-step process for murabaha financing and provides rules for ijara leases. It also discusses the conditions for salam contracts and validity of istisna'a agreements, concluding with key terms and conditions for these types of financing structures.
Brief Introduction to Diminishing Musharkah
Diminishing Musharah is best instrument in my opinion for Housing Finance. With its structure and flexibility it can play very important role in growing the Islamic Finance.
There are three possible structures of musharakah partnership in a business venture, namely, permanent musharakah, temporary (redeemable) musharakah and diminishing musharakah. The term Musharakah means joint venture where profits are shared amongst the partners as agreed between them and losses have to be borne by each partner according to their investment.
In DM, a financer and a client participate in either ownership of a joint property, or in a joint commercial business, with the understanding that the client partner will buy the equity share of the financier partner over an agreed period of time until the title to the equity is completely transferred to the client by payments of installments to the financier for purchase over the agreed period. The buying and selling of equity is not stipulated in the partnership contract as it is not allowed - one partner is allowed to give only a promise to buy.
Ciarb conferenece- Iislamic finance and banking practices- Mohammad Majd Baki...
Ciarb conferenece- Iislamic finance and banking practices- Mohammad Majd Baki...Mohammad Majd Bakir محمد مجد الدين باكير
Compatibility Issues and Discrepancies between Islamic finance modern banking practices and the law: Is the future bright?
Diminishing Musharakah Home Finance Program
Diminishing musharakah is an Islamic home financing program where the bank and customer jointly own the home. The customer makes a down payment while the bank finances the rest, with the customer purchasing equity units from the bank over time until owning 100% of the home. Payments go towards purchasing units that increase the customer's ownership stake while decreasing the bank's until full ownership is reached. If the customer defaults, the bank sells the home but reimburses the customer for the value of units purchased.
Al huda islamic modes_agricultural financing_20-10-2008-lahore2
Al huda islamic modes_agricultural financing_20-10-2008-lahore2Alhuda Centre of Islamic Banking & Economics
The document discusses Diminishing Musharakah (DM) as an Islamic financing model for agricultural projects. DM is a form of Musharakah where a financier and client jointly own an asset, with the client gradually purchasing the financier's shares over time until becoming sole owner. The document provides details on executing a DM contract for financing the purchase of a tractor, with the bank and client sharing ownership and the rent over 3 years until the client owns the tractor solely. Examples are given to illustrate the decreasing ownership shares and rental payments under DM agricultural financing.Alhuda CIBE - Diminishing Musharaka by Mehmood Shafqaat
The document discusses Diminishing Musharakah, an Islamic financing structure used for home and asset financing. It provides an overview of the structure, including that it involves a joint ownership agreement between the bank and customer to purchase the asset, with the customer gradually purchasing the bank's shares over time. The presentation outlines the basic transaction steps, including documentation requirements, and provides an illustration of the process. It also addresses common questions about Diminishing Musharakah, distinguishing the profit structure from conventional interest and clarifying the joint ownership and gradual transfer of shares.
Diminishing Musharakah Table
This document outlines a customer's increasing share in a house over 8 years through installment payments, with the bank's share decreasing correspondingly each year, from 200,000 to 900,000 for the customer and 800,000 to 0 for the bank. It also tracks the rental payment, price of equity units, and total annual installment amount paid by the customer, all of which decrease each subsequent year as the customer gains more ownership of the house.
TAKAFUL Team 3
Takaful is an Islamic insurance system based on mutual assistance and risk sharing that differs from conventional insurance in key ways. Takaful follows Sharia law and avoids elements of uncertainty, gambling, and interest. It operates using models like Wakalah, where participants mutually guarantee each other against defined losses, and Mudarabah, where investment profits are shared between participants and shareholders. Any surpluses are distributed to participants while deficits are covered by interest-free loans from shareholders.
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Al huda islamic modes_agricultural financing_20-10-2008-lahore2
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DiminishingMusharakah-Concept.pptx
1. Diminishing Musharakah is a partnership structure used in Islamic finance where a bank and client jointly purchase an asset, with the client gradually purchasing the bank's shares over time until becoming the sole owner.
2. Under this structure, the bank and client first enter into a joint ownership agreement and both contribute a share to purchase the asset. The bank's share is then divided into units that the client commits to purchasing periodically.
3. With each purchase of a unit by the client, ownership is gradually transferred to the client while the rental amount paid to the bank is reduced accordingly, until the client becomes the sole owner after purchasing all units.
Bank al habib car finance
The document discusses diminishing musharaka as used by Bank Al-Habib for car financing. Some key points:
1. Diminishing musharaka allows for joint ownership between the bank and customer to purchase an asset, with the customer gradually buying out the bank's shares over time until becoming sole owner.
2. For car financing, the bank and customer enter a musharaka agreement to jointly purchase the car, with the bank owning a certain percentage. The bank then rents its share to the customer until it is paid off.
3. The application process involves submitting documents, income verification, property valuation, and signing legal agreements before disbursement and transfer of ownership.
Diminishing Musharakah
Diminshing musharakh by its name means a partnership that declines over time. DM is a subpart of Musharakah types and mostly used in house financing.
Car financing
The document discusses Bank Al-Habib's car financing product using the Islamic financing structure of diminishing musharaka, including how the bank and customer jointly purchase the car and the customer gradually purchases the bank's shares in the car through rental payments until owning it outright. It provides details on the legal documentation and transaction steps involved in applying for and obtaining this car financing.
Ch hamad rasool bhullar
This document discusses the concept of diminishing musharaka, which is a partnership between an Islamic financial institution (IFI) and a customer for joint ownership of a property or asset. Under this arrangement, the IFI's share in the asset is divided into parts that the customer gradually purchases through periodic payments until becoming the sole owner. The IFI shares in risks and profits during the financing period as the joint owner, with its equity share declining with each payment while the customer's share increases. Areas like housing and small business financing have widely used this structure. The document outlines the typical transaction process and legal agreements involved.
Al huda islamic modes_agricultural financing_20-10-2008-lahore21
Al huda islamic modes_agricultural financing_20-10-2008-lahore21Alhuda Centre of Islamic Banking & Economics
The document discusses Diminishing Musharakah (DM) as an Islamic financing mode for agricultural projects. DM is a form of Musharakah where a financier and client jointly own an asset, with the client gradually purchasing the financier's shares over time until becoming sole owner. The example shows a client purchasing a tractor through DM by initially contributing 10% equity and paying rent to purchase the bank's remaining 90% share over 3 years, after which the client owns the tractor outright.FINANCIAL SYSTEM AND PRODUCTS
The document discusses Islamic financial system and products, specifically the concept of Musharakah.
[1] Musharakah refers to a partnership or joint venture where partners contribute capital to a business venture with the goal of sharing profits according to a predetermined ratio. Losses are shared strictly according to capital contribution.
[2] Diminishing Musharakah is a structure used for asset financing where the bank and customer jointly own the asset, with the customer gradually purchasing the bank's shares over time until full ownership is transferred.
[3] Examples show how Diminishing Musharakah can be structured for financing houses, cars, machinery, and other fixed assets in accordance with Islamic principles of
Diminishing Musharakah by Yahya Asim.ppt
Diminishing Musharakah is a type of partnership where one partner gradually purchases the other partner's share. It can be used for house financing like purchase, construction, renovation, and balance transfers. The key features include a Musharakah agreement outlining the investment ratio of each partner, with the property under the client's name. The bank's share is divided into units that the client promises to purchase at a pre-agreed price. An Ijarah agreement is signed where the bank rents its share to the client until the units are purchased.
Alhuda CIBE - Presentation on Diminishing Musharakah by Yahya Asim
Alhuda CIBE - Presentation on Diminishing Musharakah by Yahya Asim Alhuda Centre of Islamic Banking & Economics
Diminishing Musharakah is a type of partnership where one partner gradually purchases the other partner's share. It can be used for house financing like purchase, construction, renovation, and balance transfers. The bank and client enter a Musharakah agreement where they jointly own the property based on their investment ratios. The bank's share is divided into units that the client promises to purchase at a pre-agreed price. An Ijarah agreement is signed where the bank rents its share to the client until the units are purchased. The rent covers the bank's profit and recovery of the principal amount. Units are purchased through offer and acceptance on a monthly basis.9. financial Islamic securities-18.03.24.pptx
The document discusses various Shariah contracts that are commonly used in Islamic banking and finance. It provides details on Mudarabah, Musharakah, Murabahah, Ijarah, Istisna, Tawarruq, and Wakalah contracts. For each contract, it outlines the key elements, parties involved, and how the contract is typically structured in generic transactions. Common applications of contracts like Musharakah Mutanaqisah, Ijarah Muntahiyah Bittamlik, and Istisna followed by Ijarah are also summarized.
Islamic modes of financing
There are three main types of Islamic financing modes: participatory, sale-based, and rent-based. Participatory modes include mudarabah (equity finance where profit is shared but loss is borne by the capital owner), musharakah (similar to mudarabah but both partners share profit and loss), and diminishing partnership (where the financier gradually sells their share of an asset to the beneficiary). Sale-based modes include murabahah (cost-plus sale), istisna (manufacturing something for future delivery), and salam (advance payment for future delivery of goods). Rent-based modes include ijarah (leasing of assets) and tawaruq (purchasing an
Alhdua CIBE - Islamic modes of agricultural financing by muhammad khaleequ
Alhdua CIBE - Islamic modes of agricultural financing by muhammad khaleequAlhuda Centre of Islamic Banking & Economics
This document discusses Diminishing Musharakah (DM) as an Islamic financing structure for agricultural projects. DM is a form of partnership where the financier and client jointly own an asset, with the client gradually purchasing the financier's shares over time until becoming the sole owner. The document provides examples of using DM to finance the purchase of agricultural equipment like tractors. It outlines the procedural steps, including signing Musharakah and Ijarah contracts setting the rental payments and price of purchasing equity shares until the financier's share diminishes to zero and ownership is fully transferred to the client.20161103 technical programme 2 financing_products_djibouti_2016
Islamic banks make money through various Sharia-compliant financing contracts that do not involve interest, including deferred sales contracts like murabaha and istisna'a, and profit-and-loss sharing contracts like mudaraba and musharaka. Murabaha involves the bank purchasing an asset for a customer and reselling it at a markup. Mudaraba is a partnership between the bank and an entrepreneur where profits are shared according to a predetermined ratio but losses are borne solely by the bank. These contracts allow Islamic banks to finance various products and services like mortgages, working capital, and car/equipment purchases in a way that is permissible under Islamic law.
Types of sukuk
Types of Sukuk (Islamic Bond)
Sukuk are among the most recent products that are created using structural application in the Islamic financial markets. In order to design flexible securities that could respond to different financing needs of economic agencies in the capital market on one hand and to comply with Islamic principles and standards on the other hand, Muslim scholars started thinking about designing Islamic financial instruments. To this aim, expansive studies were conducted into Shariah-compliant contracts and their ability to be used as instruments so that to design financial instruments that would be able to replace bonds and preferred stocks, which are mainly based on Riba and loans with interests. Eventually, Sukuk was designed as an alternative investment instrument for securities with fixed returns such as bonds that are Hiram in the holy Shariah of Islam. After the successful implantation of the Riba-free banking, Muslim scholars managed to design different financial instruments based on Sharia rules and the actual needs of the Islamic countries. These instruments could be divided into three categories:
Fund based financial s ervices
This document provides an overview of fund-based financial services. It discusses six main types of fund-based services: 1) leasing, 2) hire purchase, 3) consumer credit, 4) factoring, 5) venture capital financing, and 6) housing finance. For each type, it provides definitions, key features, and advantages. The overall purpose is to classify and explain different methods of providing structured financing that is secured or supported by company assets.
fundbasedfinancialservices-160325120008 (1).pptx
This document summarizes various types of fund-based financial services. It discusses six main types: 1) leasing, 2) hire purchase, 3) consumer credit, 4) factoring, 5) venture capital financing, and 6) housing finance. For each type, it provides definitions, key features, parties involved, and advantages. Overall, the document aims to describe and classify different methods of providing loans and financing that are secured or supported by company assets.
Car financing in islamic banks methodology and ways
Diminishing Musharakah is a partnership transaction where partners agree to gradually terminate their partnership by one partner purchasing the other's share. A Diminishing Musharakah auto financing involves: 1) bank and client jointly owning the asset and dividing the bank's share into units; 2) bank renting its share to the client; and 3) bank gradually selling units to the client until they own the asset. Diminishing Musharakah combines Musharakah, Ijarah, and sale transactions.
Ijarah means to give something for rent. It involves transferring usage of a non-consumable asset from the owner (lessor) to a lessee for a period at an agreed
Source of finance = financial institution
The document discusses various sources of finance available from financial institutions for corporate entities. It covers equity-based financing options like trustee partnerships and debt-based options commonly used by conventional and Islamic banks. Some popular Islamic debt-based products discussed include bai muajjal murabahah, ijara, salam, istishna, istijrar, qard and tawarruq. Each financial instrument is explained along with its mechanics and differences from conventional alternatives.
Islamic banking terminologies
Diminishing Musharakah is a financing structure where a financier and client jointly own a property or business, with the client purchasing incremental shares from the financier over time until becoming sole owner. Key elements include creating joint ownership, the financier leasing their share to the client, and the client promising to periodically purchase portions of the financier's share.
Istisna is a sale contract where a manufacturer produces a specified good for a purchaser using their own materials. The price and specifications must be agreed upon upfront. Istisna can be used for project financing, such as building a house or factory.
Ijara is a leasing contract where the owner transfers usage of an
Mode of islamic finance
The document discusses various Islamic financing contracts including Istisna, Salam, Mudarabah, Musharakah, and Murabahah.
It provides definitions and key conditions for each contract type. For example, it explains that Istisna is a sale transaction where the commodity is not yet in existence, while Salam is an agreement where the seller supplies specific goods to the buyer at a future date in exchange for full payment at the time of contract.
The document also provides examples of how these contracts can be structured and applied in practice for various financing needs like home and project financing.
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OJP data from firms like Vicinity Jobs have emerged as a complement to traditional sources of labour demand data, such as the Job Vacancy and Wages Survey (JVWS). Ibrahim Abuallail, PhD Candidate, University of Ottawa, presented research relating to bias in OJPs and a proposed approach to effectively adjust OJP data to complement existing official data (such as from the JVWS) and improve the measurement of labour demand.OAT_RI_Ep20 WeighingTheRisks_May24_Trade Wars.pptx
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Diminishing musharakah
- 2. Musharakah There are two types of Shirkah: 1. Shirkat-ul-Milk (Joint Ownership) Joint ownership of two or more persons in a particular property 2. Shirkat-ul-Aqd (Joint Venture) A partnership affected by mutual contract. It can also be translated as a joint commercial enterprise
- 3. Diminishing Musharakah The financier and the client participate either in joint ownership of a property or an equipment, or in a joint commercial enterprise The share of the financier will be divided into a number of units The client will purchase these units one by one periodically until he is the sole owner of the property
- 4. Components of Diminishing Musharakah Joint ownership of the Bank and customer Customer as a lessee uses the share of the bank Redemption of the share of the Bank by the customer
- 5. Mode of Fixed Asset Financing Diminishing Musharakah is commonly used for the purpose of financing of fixed assets by various Islamic banks. House financing Car Financing Plant and machinery financing All other fixed Assets
- 6. Basic Operation Joint BANK Ownership CUSTOMER Rent Musharaka The customer approaches the Bank with the request for Project/Machinery/House financing The Bank enters into a Musharakah (Joint Ownership) agreement with the customer and both of them pay their respective shares to the seller of the asset. Client promises to purchase Bank’s share (units) over the tenure of transaction with the help of Undertaking to Purchase
- 7. Joint BANK Ownership CUSTOMER Gradual Transfer of Ownership Musharaka Client promises to purchase Bank’s share (units) over the tenure of transaction with the help of Undertaking to Purchase Customer pays rent for the use of banks share in the property Client purchases the units every month via a separate offer & acceptance every month and will eventually become the owner of the property.
- 8. Joint BANK Ownership CUSTOMER Gradual Transfer of Ownership Musharaka Ownership of the asset is gradually transferred to the customer upon payment of asset price. (with the help of a Sale transaction between bank & customer at the end of each period)
- 9. CONCLUSION The scholars agreed that it is best to implement DM partnership for house financing or machinery financing whereby both assets can be leased out to agreed rental. Joint ownership of house or machinery is accepted by all school of Islamic jurisprudence since the financier sells its shares to the customer (Usmani, 2002)
- 10. DM is considered to be an appropriate mode to finance collective investment due to benefits to the respective parties as mentioned below; o Banker’s Perspective: It earns periodical profit all the year round o Partner’s Perspective: It encourages the partner to participate in halal investment. It realises the customer’s ambition to individually own the asset/project in the short run when the bank withdraws gradually. o Society's Perspective: It corrects the course of the economy by developing the mode of positive partnership instead of the negative relationship of indebtedness, by doing so it achieves equity in distributing the results.