ARIJ ISLAMIC FINANCE UNIT OF RICHARD PIERIS FINANCE LTD.

Richard Peiris Finance Ltd now offers Shari’ah compliant financial services and products with a motive to reach out, to a potential customer base that prefer alternative financing arrangements. The Unit has been named as “Arij” Islamic Financial Services in order to differentiate its business operation to conventional financial services to bring more prominence in the eyes of the customers who strongly value this system. Arij’s core strength lies in the optimum balance between pertinent product ranges, personalized services and a contemporary look and feel.
Justice, equity and fairness are values underpinning the Islamic finance system. These are values that are considered as most integral to our Islamic finance operation and practice

Top 5 Reasons to Invest in Richard Pieris Finance Ltd – ARIJ


ARIJ ISTISMAAR ACCOUNT – WAKALAH INVESTMENT

The RPAF has launched its “Arij Istismaar ” Account to provide you with a market-competitive ethical return on your investment, based on the Shari’ah principle of Wakalah Bilistismaar. The investment aims to provide you a steady income stream over the medium to long-term period ,through investments primarily in Shari’ah-compliant assets and business transaction.


Wakalah Bilistismaar

Wakala Bilistismaar is a simple Islamic money market concept used in investment products.

The Investor (“Muwakkil”) enters into a Wakalah Bilistismaar Agreement with the Richard Pieris Finance (RPF) – Arij Islamic Finance Unit (“Wakeel”) and invests a certain amount of money to the RPF to be utilized and invested in profitable Shariah-compliant transactions.

The Investor will be offered the expected profit rate from the Investments and the RPF will earn a Wakalah fee for the service rendered. Any amount that the RPF earns in excess of the Investor’s expected profit (after deducting the Wakalah fee) will be retained by the RPF as incentive.


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Arij ®–Istismaar (Retail Investment)

This investment is designed for individuals or SME companies. Minimum amount is LKR 50,000.00 with a minimum tenure of 3 months.


Arij © Istismaar (Corporate Investment)

This Investment is targeted to corporate organizations or high-net worth individuals with minimum amount requirement of LKR 500,000.00. Minimum tenure is 3 months; any other tenures can be further negotiated.

RPF is able to inform the Anticipated Profit Rate (APR) at the point of placement, thus, allowing customers to know their expected rate of return on their investment. However, the RPF as an agent will not guarantee the fixed profit from the investment.

Its benefits include:

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Ijarah is a contract between the Lessor and the Lessee, under which the usufruct of an asset is transferred to the Lessee where the Lessee has the right to enjoy a specific benefit from the asset for a specic period against a specified consideration payable by the Lessee to the Lessor. Upon completion of the lease period Lessee gets ownership of the asset.

It is a Shari’ah compliant financing model which allows you to own an asset whilst preserving your capital for other productive commercial purposes.

Responsibility of stakeholders under Ijarah Lease:

Description of liabilities Responsibility
Expenses related to ownership Lessor
Expenses related to use of asset Lessee
Risk associated with ownership Lessor
Risks associated with use of asset Lessee
Third party liability in case of an accident Lessee
Expenses and risks associated with ownership
but caused due to gross negligence
Lessee

Arij’s offer:

If you’re seriously thinking about getting a new set of wheels, we are always keen to help you with our residual value Ijarah scheme designed for you and can be custom made according to your requirements with a blend of convenience and flexibility.

Benefits

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As a business owner, you are faced with both challenges and opportunities on a daily basis, many of which require you to have cash in hand. It is essential both for you and for your business to have access to the funding you need, when you need it, and it’s no secret how difficult that can be.

We are dedicated to help you to grow your business on your terms. Our Wakalah business finance is designed with you in mind and may be customized to work with your unique business model; you will have flexibility and ease-of-use while solving your business funding needs. You are free to use the capital for any business expansion which comes under the ambit of Shari’ah principle.

Our Wakalah business finance facility is ideal for Small and Medium Enterprises, Corporate and Sole-proprietorships in Sri Lanka whose businesses are expanding or have the potential to grow.

Benefits:

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Murabahah refers to a particular kind of sale transaction where RPF expressly mentions the cost it has incurred on purchase of the asset to be sold and sells it to a prospective customer / buyer by adding a profit, which is known to customer / buyer.

It is an Islamic financing structure, where RPF buys an item / goods or property with free and clear title to it. The RPF and prospective buyer then agree upon a sale price (including an agreed upon profit for the RPF) that can be made through a series of installments, or as a lump sum payment.

Murabaha facility is offered to customers to :

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Securing your business finance:

Call us today on:

Write to:

Email your inquires to: imruz@rpcfinance.com

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