Ijara Agreement (IA)
Name and purpose of the product:
A Shariah-compliant financing used to purchase income-generating assets (e.g., car, machine). The asset is leased to the customer, while ownership remains with SKM until the Ijara amount and cost are fully repaid.
Gender
Male and Female
Location
Rural and Urban
Purpose
A Shariah-compliant financing used to purchase income-generating assets (e.g., car, machine). The asset is leased to the customer, while ownership remains with SKM until the Ijara amount and cost are fully repaid.
Target Businesses
All types of assets that is used for Business with RIGA (Regular-Income-Generating-Activities) or SIGA (Seasonal-Income-Generating-Activities)
Documents Required
A valid e-NID (Paper NID Exceptional), business license or municipality registration (where applicable), and relevant purchasing documents (bills or invoices). and Ownership document of the asset under leasing/Ijara
Age
18-65
Members
Individual
Financing Currency
AFN
Financing Amount
5,000 to 500,000
Financing term
6 to 24 months
Profit Rate
The profit margin is 15% per year (1.25% per month) on a flat rate basis.
Collateral (Title Deed and Guarantor)
Financial guarantor (Business), Family guarantor and Titel deed and Asset Ownership Document OR Gold-Deposit-Guarantee