KFH Ijarah Mausufah Fi Zimmah Asset Acquisition Financing-i

Ijarah Mausufah Fi Zimmah means an ijarah contract which is executed for an asset undertaken by the lessor to be delivered to the lessee according to accurate specifications, even if the asset is not owned by the lessor. During the period that the leased asset/property is under construction, the lessor may ask the lessee to pay a certain portion of pre agreed lease rental as a forward lease.

The forward lease rental payment will be considered as a debt to the lessor until the delivery of the leased asset to the lessee. Ijarah Mausufah Fi Zimmah can be in a form of Ijarah or Ijarah Muntahiyah Bi Tamlik.

KFH Ijarah Mausufah Fi Zimmah Asset Acquisition Financing-i is a forward lease contract (for property under construction) ending with ownership by way of gift / sale.


Features

• Up to 35 years or age 70, whichever is earlier for residential property and up to 15 years or age 60, whichever is earlier for commercial property
• Floating profit rate
• Enjoy financing of MRTT at a reasonable profit rate provided based on the Murabaha Tawarruq concept

MRTT = Mortgage Reducing Term Takaful


Eligibility

• Available for Individual & Joint Applications
• Non individuals: sole proprietorship, partnership, limited company
• Property under construction


Documents Required

Salaried Individual

• Identity Card
• Latest Payslip
• Personal Bank Statement where salary is credited
• EPF Statement
• EA Form
• Other Documents on case to case basis

Self Employed

• Certificate of Business Registration
• B or BE Form
• Personal Bank Statement
• Business Bank Statement
• Other documents on case to case basis

Persons with Variable Income

• Commission payment / statement
• Annual commission payment / Statement
• Personal Bank Statement
• BE Form
• Other documents on case to case basis


NOTE: Please be advised that the product mentioned above may change from time to time, as the market and industry evolve.

For further information, please call Kuwait Finance House Customer Service Center Tel: 1300 888 534 (+603-2168 0464 from overseas), or visit the nearest Kuwait Finance House branch today.

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