Types of Sharia Financing and Its Benefits

Types of Sharia Financing and Its Benefits.To get venture capital is actually not difficult for those of you who already understand how. However, getting venture capital for ordinary people will certainly be confusing. Actually, you can use many ways to get venture capital easily, one of them by utilizing financing products from Islamic banks. The following are the types of Islamic financing that can be used as a source of venture capital and other needs.

Sharia Working Capital Financing

Basically, Sharia working capital financing is financing with short or long periods of time for entrepreneurs who need additional working capital in accordance with sharia principles. This working capital is usually needed for the needs to pay production costs, purchase materials for raw materials, trade in goods and services, and work on projects. This sharia financing facility can be provided for all businesses that are considered to have prospects, nor does it violate Islamic law and applicable laws and regulations .

Sharia Financing With a Buy and Sell Scheme

There are two types of Islamic finance contracts for working capital. First is Islamic financing for working capital with a murabahah (buying and selling) scheme . With this Islamic financing scheme, the Islamic bank will finance the purchase of working capital goods needed by customers. The financing is the amount of the base price plus profit margins of Islamic banks that have been agreed by the parties and banks. Please note that for the level of profit the bank has been determined at the beginning, and this profit is part of the price of the goods sold.

For example, if a businessman engaged in the manufacturing industry receives an order of goods with a total capital requirement of one billion, while the funds for capital currently owned are only Rp500 million, then the entrepreneur can apply for Islamic finance for an additional working capital of Rp500 million . If the bank assesses that the needs of entrepreneurs tend to be material, then the Islamic bank will provide working capital financing with a sale and purchase scheme . At the beginning of the agreement, the bank will set a profit margin of sale and purchase, for example Rp85 million, so that the total financing is worth Rp585 million.

Types of Sharia Financing Cooperation Schemes
The second type of sharia financing contract is a profit sharing partnership or mudharabah and musyarakah schemes. Islamic financing in this scheme is based on the willingness of both parties (banks and customers) to cooperate in efforts to increase the value of their assets. In the contract agreement, also written the profit sharing scheme agreed upon by both parties. For example, there is a contractor who gets an infrastructure construction contract value with a total capital needed to carry out the contract is Rp2 billion. However, this construction service entrepreneur only has a capital of Rp1.5 billion, still lacking R 500 million. In this case, if the contractor requires more cash, the Islamic bank will provide Islamic finance with a profit sharing scheme . In this scheme, the bank and the contractor work together and form a profit sharing ratio agreement.

Sharia Consumer Financing.

Sharia consumptive financing is financing intended for customers for non-business purposes and is of an individual nature. Unlike sharia financing for productive working capital, consumer financing is needed by customers to meet secondary needs (Read also: Knowing Types of Consumer Loans and Business Loans ).

There are two types of contracts that are most often used in sharia consumptive financing products, namely murabahah and ijarah contracts.

Sharia Financing for Consumptive Needs with a Murabaha Scheme It should be noted that in the world of Islamic banking in Indonesia, murabahah contracts are one of the main contracts in sharia financing . That’s because the system as well as how to calculate calculations with this contract scheme is easier. One of the sharia banks that offer murabaha consumer financing facilities is BNI Syariah. This bank provides Islamic financing for the purchase of motor vehicles. For collateral is a motorized vehicle financed with this financing facility.

Sharia Financing Using the Ijarah.

Scheme Basically, the principle in the ijarah agreement is almost similar to the principle of buying and selling, but the difference lies in the object of the transaction. If in the transaction of buying and selling the object of the transaction is the type of goods, then in the ijarah contract, financing is provided for a service . For example is a consumer financing facility to meet the needs of purchasing the pilgrimage pilgrimage package services . In this case, usually Islamic banks have cooperated with travel agents in accordance with Islamic principles.

Sharia Investment Financing

Islamic investment financing is a financing with a short-term or long-term period to purchase capital goods needed in the establishment of new projects / businesses, expansion, relocation of existing projects, and rehabilitation or replacement of factory machinery. The contract that is usually applied in the type of Islamic investment financing is the murabahah contract and Ijarah Muntahia Bit Tamlik (IMBT).

One of the banks that provide Islamic investment facilities is the BCA Syariah bank. The bank offers investment financing aimed at the modernization and expansion of productive businesses such as the purchase of business premises or the purchase of operational vehicles. In addition to offering loan products, Islamic banks also offer many other banking products, for example financing card services that function as credit cards based on sharia principles . With the many types of Islamic finance contract options and its products, you can choose the type of financing that is useful in accordance with needs.




Leave a Comment