CAR FINANCE

MURABAHA (CAR FINANCE)

Murabaha financing may be utilized for the purchase of small products wherein the member pays in pre-agreed instalments. In this structure, an intermediary buys a property with free and clear title. Murabaha is not an interest-bearing loan, which is considered riba (or excess), and is an acceptable form of credit sale under Islamic guidelines.

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Fine Prints:

  • Comparison Rate*/APR from 7%
  • Transaction Fees: Nil (One-off fee of $100 for lifetime membership)
  • Interest rates: No interest Islamic products

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*Comparison rate based on a $10,000 loan over a 3 year term. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate’

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