Term | Description |
Concept | Tawarruq |
Selling price | Fixed and Known Upfront |
Takaful Protection | Highly encouraged |
Choices Mode of Payment | Salary Deduction / Salary Transfer / Standing Instruction / Pension Transfer |
Wasiat/Will Writing | Optional |
Structure of Product | Muamalat Personal Financing-i (Tawarruq) is a financing facility that is designed to provide cash financing to the customers for personal consumption/ use which does not contravene with the Shariah principles.Generally, this product is based on Tawarruq as its underlying Shariah concept for provision of financing. The financing structure under the Tawarruq arrangement involves the combination of Wa’d Mulzim, Murabahah, Wakalah and Bai’ Wadhi’ah contracts. |
Shariah Concepts |
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