INSAAF

 

Financial Solutions That Save People From Riba

 

About our Company

Our shariah-compliant financing solutions are here to help you to meet your property, vehicle or commercial need. Our mission is to see our community living a peaceful shariah-compliant financial life within the next 10 years.

 

Business Asset Finance

Funding for your business is critical to your growth and generating new or stronger revenue streams. Together we can ensure you acquire the capital you need to reach a new level of success by developing a personalised business financing model and strategy, allowing you to infuse the finances with minimal financial and administrative strain. Without the financial burden of outright purchase, at Insaaf can help you purchase:

  • Machinery & Assets
  • Business Vehicles
  • Business Equipment
  • Plant & Equipment 

By using Insaaf Business Equipment Finance experience both for established companies and for new starts, you can have the equipment that you need now but spread the payments over say three or five years, instead of waiting and saving for it. Let your equipment work for you and pay for itself over the financed period, using an Islamic mode of financing either Murabahah principle or Ijarah principle.

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COMMERCIAL FINANCE POLICY

Murabaha is an Islamic mode of financing structure in which an intermediary buys the commodity (the goods) with free and clear title. This kind of financing mode is most commonly used for a short-term trade. In other words, Murabaha principle is a particular kind of sale where the seller expressly mentions the cost of the commodity purchased and sells it to another person by adding some profit thereon. Thus, Murabaha is not a finance (loan) given on interest; it is a sale of a commodity for cash/deferred price.”

A contract of sale between Insaaf and its customer whereby Insaaf promises to sell the commodities and the customer promises to buy the commodities from time to time on an agreed ratio of profit added to the cost. In other words, a contract of sale between Insaaf and its customer for the sale of commodities (the Goods) at a cost price plus an agreed profit margin /mark-up. In some cases, Insaaf appoints the customer as its agent for purchasing the commodity on its behalf.

For more information, please visit our website: www.insaaf.com.au/resources where you can find “an introduction to Islamic finance” (page 65-108) by Mufti Muhammad Taqi Usmani.

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