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(MMP) FOR HOME FINANCING USING AL-IJARAH AS THE INCOME GENERATING ENGINE

Customer Share Capital ($10000) 10% Bank Share Capital ($90000) 90% Reduces banks shareholding Increase customers shareholder Customer 10% profit- $50 Bank 90% Profit- $450 Customer share Purchase $300

Musharakah Mutanaqisah Partnership (MMP) The MMP invests the $100,000 Capital in the Al-Ijarah-rental business

HOUSE

Monthly Ijarah Payment $800

Actual rental value $500 share purchase

EXAMPLE- There are two parties, A (customer) and B


(Islamic bank), teaming up based on the musharakah mutanaqisah contract with agreement to give some capital (A gives 10 % and B gives 90 % from total capital) in the beginning. The ownership percentage of A will increase as from the instalment payment each month (actual purchase of share + rental fee).

The rental fee as the revenue of the work will be shared according to the percentage ownership until A has 100% of ownership.