Tips Resipi

This debt consolidation loan benefits those who are in need of immediate sum of money to pay various large credit bills. A debt consolidation loans can be done by providing the bank a home equity loan, credit card transfers, or your retirement funds in exchange of the very large loan.

Benefits are given to any type of business transactions even in loans, debt consolidation loans is the most appropriate way to get your credits paid by with a large sum of money immediately at hand.

Debt consolidation loans are not so advantageous to the lender because once you don’t make it to pay for your loan then chances are they having your house as payback guarantee.

Debt consolidation loans depended on the house equity of the owner that can be used as collateral to pay for your debts. This is the loan for rapid needs for large amount of money. In any situation you must need to keep in mind that how you will be able to pay the big credit loan you have made so the financial institution or the bank cannot take your collateral you provided them. If you think about it this is such a very risky type of loan because you will pay a debt from other people with another type of debt in the bank but you will be the boss.

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11. Al-Kafalah (Guarantee)

Guarantee provided by a person to the owner of goods who has placed his goods with a third party, whereby the guarantor and the third party may must meet any subsequent claim by the owner of the goods.

12. Ar-Rahnu ( Collateralised borrowing)

An arrangement whereby a valuable asset is placed as collateral for debt. The collateral may be disposed on in the event of default.

13. Al-Wakalah (Nominating another person to act)

A situation where a person nominates another person to act on his behalf.

14. Al-Hiwalah (Remittance)

A transfer of funds or debt from the depositor’s or debtor’s account to the receiver’s or creditor’s account. A commission may be charged.

15. As-Sarf (Foreign Exchange)

The buying and selling of foreign currencies.

16. Al-Ujr (fee)

Commissions or fees charged for services

17. Al-Hibah (Gift)

Gift awarded voluntarily in return for a loan given

6. Bai’ al-Dayn (Debt Trading)

Debt financing refers to providing financial resources for production, commerce and services through the sale or purchase of trade documents and papers. Only documents evidencing real debts arising from bona fide merchant transactions can be traded.

7. Al-Ijarah (Leasing)

An arrangement under which one leases equipment, building or other facility to a client at an agreed rate against a fixed charge, as agreed by both parties.

8. Al-Qardhul Hassan (Benevolent Loan)

An interest-free loan. The borrower is only required to repay the principal amount borrowed, but he may pay an extra amount at his absolute discretion as a token of appreciation.

9. Bai’ As-Salam (Future Delivery)

An agreement whereby payment is made immediately while goods are delivered at an agreed late date. It is equivalent to an advance payment.

10. Bai’ al-Istijrar (Supply Contract)

An agreement between the client and the supplier whereby the supplier agrees to supply a particular product on an on-going basis, for example monthly, at an agreed price and on the basis of an agreed mode of payment

1. al-Wadiah Yad Dhamanah (Savings With Guarantee)

Refers to goods or deposits that have been deposited with another person for safekeeping. Depositors give their consent to the bank to deal with the whole or any part of their monies in the manner that the bank deems fit, so long as it is not against syariah.

The bank will guarantee repayment of the whole sum or any outstanding part in the depositor account when demanded. The bank may provide a return to depositors as a token of appreciation for keeping their money with the bank.

2. Al-Mudharabah (Profit Sharing)

An agreement made between a party who provides the capital and an entrepreneur to enable the latter to carry out business projects on a profit sharing basis at a pre-determined ratio. Losses are to be borne by the provider of funds.

3. Bai’ Bithaman Ajil (Deferred Payment Sale)

The sale of goods on a deferred payment basis at an agreed price. It provides protection against interest rate fluctuations. The financing allows customers to purchase or refinance the property to obtain extra funds for various purposes such as for their children ’s education, house renovation, business expansion or just to obtain extra funds.

4. Al-Musyarakah (Joint-Venture)

A partnership for a specific business with a profit motive. Profit distribution will be allocated according to an agreed ratio. In the event of losses, both parties will share the losses based on their equity participation.

5. Al-Murabahah (Cost-Plus)

The sale of goods at an agreed price. Such as sales contract is valid on condition that the price, other costs, and the profit margin of the seller are stated at the time of the agreement of sale.