Bank Al-Maghrib Dar Assafaa authorized to collect funds from customers to refinance their investments. These funds will be allocated to an account "Hissab Assafaa" enabling customers to manage their money on a daily basis and provide tools practices such as check book and cash card "Card Assafaa.
Dar Assafaa a finance company is targeting individuals and businesses wishing to finance their acquisition of movable or immovable property through alternative products which do not use traditional banking interests but based on the principle of "Murabaha" which consists of a purchase-resale installment of real assets and value known in advance. Dar Assafaa buys a property at the request of his client and resells it to him plus a profit margin known in advance. This margin is calculated based on the target customer profile, risk, duration of repayment of fees and operating expenses of Dar Assafaa. subsidiary of AWB has an information system in accordance with Islamic products that does not include the value dates, the calculation of interest rates and discovered that the term n ' not exist in this type of establishment.
To comply with banking regulations, Dar Assafaa had to conclude with its parent Attijariwafa bank (AWB) contract Moudharaba under which the funds collected are domiciled at AWB who outsources Dar Assafaa. Dar Assafaa acts as "modareb" as a company with expertise in the field of the financial and business plan and AWB as a funder (rab al-mal). Thus, AWB provides the funds, and Dar Assafaa business expertise, AWB agreeing to share profits and losses with its subsidiary.
Jouahri Abdellatif, Wali of Al-Maghrib Bank recently said that under the proposed financial Casa International Financial City and revision approvals, Morocco could authorize direct collection of funds by institutions of alternative financing.
To finance the investment projects of its clients, Dar Assafa opted initially for formula Murabaha. "Alternative financing Musharaka and Ijara to know are provided as part of our strategic policy, but today we focus on Murabaha to familiarize customers with this financing," said Nour Eddine El Hassani Charkani President the Executive Board of Dar Assafaa.
The fact remains that such products need to be competitive, particularly by eliminating the last tax obstacles such as double taxation on the conservation fee of 1% for the financing of real estate.
source halalmagazine.com
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