If you are looking to procure an asset without any down payment and require long term financing, Trafin’s Ijarah Finance offers the perfect solution.
Upon your request, Trafin purchases the equipment of your choice from the supplier and subsequently leases it to you for a mutually agreed tenor. At maturity, Trafin transfers the ownership in your name by either gifting or selling it to you for a nominal price.
Under this arrangement, Trafin initially pools funds with you to purchase the required equipment and therefore becomes a joint owner in the purchased equipment. Subsequently, it leases its share of the asset to you against periodic rental payments. Alongside, in each instalment, it also sells to you a part of its share thereby reducing its ownership after each instalment. At the end of the tenor i.e. after all of Trafin’s share have sold to you, you become the sole owner of the asset.