Ijarah

Ijarah is an effective and practical financing tool allowing businesses to acquire their equipment/machinery and individuals to acquire Home and Auto through leasing, instead of outright purchase, thus reducing the heavy burden of expenditure. A commonly used financing mode wherein the Bank (lessor) leases the property/goods to the customer (lessee) in return for a rental payment for a specified financing period. However liabilities of ownership are borne by lessor.

Our solution supports Ijarah by providing a wide range of functionalities such as product configuration including repayment policies, profit rate and document checklist, credit analysis, disbursal, foreclosure, assets classification/provisioning monitoring etc. which are a must for any Islamic finance business.