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Sun 17 Dec 2017 29 Rabia al-Awwal 1439H

Murabaha

Murabaha mode for purchase- orderer and includes the following products:

Building materials, furniture, cars, apartments and houses,miscellaneousmaterials.

Periods and profit ratio for all products:

The maximum rate of profit by duration mutual insurance ratio by repayment *
   
 

* Terms of calculating mutual insurance as follows

·        The client’s age should be less than 55 year.

·         The financing asset + the profit should not be more than JD 100000 thousand.

Equation to calculate monthly installment

Financing asset × profit ratio = profit

Financing asset + profit = total financing

Total financing × mutual insurance ratio = mutual insurance installment

Total financing + mutual insurance installment = ( total financing including the profit and mutual insurance)

Total financing including the profit and mutual insurance + repayment period = monthly installment

Explanatory example

Financing to purchase  building materials:

The requested financing asset = (JD 5000)

For 60 months  repayment period

30% profit ratio.

5000*30% = JD 1500

5000+1500 = JD 6500

6500*2.5% = JD 162.5

6500+162.5= JD 6662.5

6662.5 /60= JD 111.041