Murabaha is an agreement according to which LLC «Miras FC» informs the Client about the value of the goods (vehicles, equipment, etc.), its characteristics, and then sells these goods to the Client in installments for a certain period, adding an additional amount to the original cost of the goods. The client repays the assigned amount according to the payment schedule, in equal or unequal installments.
Murabaha is of two types:
1. Murabaha is ordinary. In this case, LLC «Miras FC» acts as a dealer, that is, it buys the goods before the request of the Client and in the case of the request of the Client, sells him the goods at the disposal of LLC «Miras FC» with a surcharge.
2. Murabaha at request. In this case, LLC «Miras FC» purchases the goods at the request of the Client in ownership (with pre-agreed specifications and individual characteristics), and then sells this product to the Client with an agreed margin with payment by installments.
The main parameters of the Murabaha agreement:
- cost of goods (from 300 thousand to 30 million rubles);
- rate of rise in price,
- contract term (within 1 year (minimum term) — up to 5 years (maximum term),
- type of payment (annuity / declining);
and other terms of financing are determined by the parties under the Agreement.
Ijara bi shart at-tamlik
This is a lease concluded in accordance with Islamic law. The main condition of this agreement is the subsequent redemption of the rented goods.
According to this Agreement, LLC «Miras FC» acquires property (vehicles, equipment, machinery, etc.) on the basis of a written request from the client and agreements, and then transfers it for use to the Client in the form of a lease with the condition of subsequent redemption.
At the end of the lease term, the Client becomes the owner of the property if all the terms of the contract are fulfilled. In case of violation of the terms of the Agreement, the property remains in the ownership of LLC «Miras FC»
This method of financing is used to expand and develop such sectors of the economy as agriculture, road and housing construction, enterprises in the field of trade, services, etc.
It should be noted that goods and property with a service life of less than 2 years cannot be considered as the subject of this agreement.