The Amanah Vehicle Financing through Murabaha is used when you need a Shariah compliant solution for buying your dream car.
Under the Murabaha structure, the Bank will purchase the car you want to buy from the seller and sell to you at deferred sale (which includes cost plus profit amount) to be payable in instalments. To comply with Shariah principles of Murabaha, the bank will buy the car from the seller first and then sell it to you at a mark-up. As per Shariah requirement, the break-up of cost of the product and profit will be disclosed to you.
The Amanah Vehicle Financing through Murabaha is used when you need a Shariah compliant financing solution to buy a car.
A Global Shariah Advisory Board and regional Shariah committees consisting of independent Shariah scholars advise HSBC Amanah on matters related to Shariah.