Industrial
Hire Purchase
Based On Islamic Concepts
Purchasing an industrial
equipment or machinery? Ease your cashflow by amortising
your equipment’s purchase price. We offer competitive rates. Margin of financing is up to 100% of the
purchase price. Industrial Hire Purchase-i is a financing
arrangement of leasing/hire purchase and subsequent purchase
for industrial vehicles based on the Syariah concept of
Ijarah Thumma Al-Bai.
Industrial Hire Purchase-i Features
• High margin of financing of up to 100%
• Period of financing is on case to case basis
• Tailored to your financing needs. •
Competitive rates.
Islamic Concepts – Ijarah
Thumma Al Bai
Refers to two contracts undertaken separately and
consequentially as follows:- • Ijarah
contract (leasing/ renting); and • Bai
contract (purchase)
Under the first contract, the hirer leases the
goods from the owner at an agreed rental over
a specified period. Upon expiry of the leasing
period, the hirer enters into a second contract
to purchase the goods from the owner at an agreed
price. This concept is applicable for financing
of consumer goods and durable.
Available For
•
Sole Proprietorships • Partnerships
• Private Limited Companies • Public
Limited Companies
Requirements to Apply
For us to know you better, we need the following
documents: • Company profile •
Your company product brochures • Profile
of management team and directors • Certified
True Copy of Business Registration, Form B and D
• Certified True Copy of M&A, Form 24,
44, and 49 • Photocopy of Guarantor’s/Proprietor’s/Partner’s
IC • Audited accounts for the last 3 years
and latest management account • Latest
6 months bank statement • List of clients
and suppliers • Debtors & creditors
ageing report • Suppliers’ quotation
for equipment to be purchased
Additional documents if applicable:
• Letters of Awards / Contracts
• Relevant Permits / Licenses / Certification
of SIRIM
• Production process flow
• List of completed / present / future projects
