|
OUR LEGITIMATE TRANSACTIONS |
MUSAWAMA (BARGAIN SALE):
- It is related to the cases, where the customer requests the company to buy a certain
commodity, with the undertaking to buy back same from the company, after which the
company buys from a third party with a cost determined without the interference
of the customer; accordingly, the commodity is sold with a profit not known to the
customer; the customer has the right to accept or reject the commodity after the
company's acquisition, and if the customer accepts the commodity, it will be sold
to him, upon which he will settle its cost to the company by installments as agreed
upon.
MURABAHA (COST PLUS PROFIT) SALE:
- This method is exemplified in the cases where the company allows the
customer to acquire some of commodities, instruments and equipment from within Qatar
or from abroad. This is Done through an application from the customer requesting
the company to import on his behalf a certain commodity, indicating its specifications,
quantity and cost, and the company will accordingly import same in its name from
abroad with the intent of selling it to the customer after its arrival with the
cost price plus a specific profit known to the customer through agreement.
ISTISNA (PROJECT FINANCING):
- This is represented in the cases when the company gets contracted with the customer
(manufacturer) to undertake execution of a certain project, and bear all costs of
raw materials and wages, and then delivers it complete to the customer with a specific
cost and on a fixed date. As First Finance does not possess currently a contracting
company, thus it conducts the contracting for implementation of projects with one
or more of the contracting companies, taking into consideration that the elected
company is acceptable to the customer.
MUDARABAHA (EQUITY PARTICIPATION):
- This type of financing is processed on the grounds that the company would
provides the capital, and as such it represents the proprietor for the capital demanded
by the customer with the intention of establishing a joint venture, or purchase,
or sale of a commodity, where the company shares in the potential yield (whether
profit or loss) in the light of legitimate distribution rules, to be agreed upon
beforehand; Mudarabaha contracts include various investment requirements in the
field of commodity imports or financial tenders, etc…
IJARA (LEASING):
- The company buys the property or shares of that property and leases it to a third
party; the property may relate to a real estate or equipment or various instruments,
and the deal is conducted after making a feasibility study and ascertaining its
profitability and its conformity with the provisions of Islamic Shari’a.
OTHER FINANCING ACTIVITIES:
- The contract conception for this type of dealings is based on lease (Ijara),
and henceforth sale of the utility to the interested parties. The company has launched
in this respect products that are assigned to contribute to the development of the
community, such as educational services, training, financing services for holding
events and ceremonies
|
|
|
|
|
|
|
Annual Report |
|
|
 |
|
|
Weather Index: Doha, Qatar
 |
|
30 °C |
|
|
|
 |
USD |
3.64 |
QR |
 |
EUR |
4.98 |
QR |
 |
GBP |
0.47 |
QR |
 |
SAR |
0.97 |
QR |
 |
AED |
0.99 |
QR |
 |
BHD |
9.68 |
QR |
|
|
|
|
|
|
 |
|
|