DIMINISHING MUSHARAKA – Housing Finance ………on a Straight Path

• Diminishing Musharaka is a Shirkah (partnership) based transaction through which FDIBL and its customer contribute their equity at an agreed ratio for the purchase/ construction
  /renovation of  residential property.

• DIBL's equity share is divided into monetary units subject to purchase by its customer
  periodically until such time that the ownership is transferred in the name of the customer.

  Besides purchase of DIBL's equity periodically, the customer utilizes the usufructs/benefits
  of the residential property and pays agreed consideration to DIBL, periodically.
   

• As continuing security for the obligations of the customer under the Housing Finance Musharaka Agreement, Monthly Payment Agreement and Undertaking to Purchase the Musharaka Units, the customer shall create mortgage over the property in favor of DIB.

Salient Features of Car Ijarah
FDIBL's maximum financing upto 75%
• Minimum Limit PKR 500,000/-; Maximum Limit PKR 10,000,000/-.
• Minimum Tenor 3 Years; Maximum Tenor 20 Years.
House Constructio.

• Free from Riba.
• Fully Shari'ah compliant.
• No up-front insurance payment.
• No rental payments from the date of booking till the time of delivery.
• No up-front registration fees and related expenses.
• Nominal processing fees of Rs. 3,000 (Non-refundable).
• Easy processing for new locally assembled and imported cars.
• Nominal security deposit.
• Minimum Limit PKR 250,000/-; Maximum Limit PKR 5,000,000/-.
• Minimum Tenor 3 years; Maximum Tenor 5 years.

Minimum Eligibility*

• Applicant should be a resident Pakistani.
• Minimum age 21 years; Maximum age 65 years
• For business and self employed persons, at least 2 years business experience.
• For salaried person at least 2 years employment.
• Applicant monthly income should match DIBL's minimum income criteria.

All agreements/documents are approved by FDIBL's Shari'ah Advisor.
*Conditions apply