IJARA Financing

Total Installment
Market Price
Yearly Insurance (In %)
Income Tax.
Cost of Vehicle
Less Equity (Arboon)
Ijara Financing Amount
Installament for Ownership
Rentals in % of Installment
Repayment Monthly
Total payment
Financing Amount
Total Rentals Paid
Arboon
Total Ijarah Adjustment
Gross Monthly Income
Recovery Level
Saving
Expenses
Total Burden on Income

Equipment Financing
36
3
1

600,000
54,000
6,000
660,000

20

120,000
540,000

36
50
36

30

15,000.0
7,500.0
22,500.0
810,000.0
540,000.0
270,000.0
120,000.0
930,000
75,000
22,500
20.00
10.00
30.00

ment Financing

Rate X Principle /100 x No of Years = Total insurance Cost

Rate X Principle /100 = Total Tax Cost
Market Price + Cost
Market Price X Equity Rate /100
Cost of Equipment - Equity
Cost of Equipment / Period
Affordibility Amount - Insatallment Amount
Monthly Installment + Monthly Rentals
Market Price+Cost+Rental
Market Price-Arboon+Cost =FA
Rent Amount x No Installment = TR
Market Price X Equity Rate /100
FA+TR+Arboon=Total Amount Paid
GMI x AR /100
MI x 100/ GMI
MR x 100/ GMI

Assignment Modaraba

1
2
3
4
5
6
7
8

Syendicate

Investment

Modaraba

Amount

Amount of Investment
Brooks Group
Allaied Group
Untied Group
Scan Croup
Services & Sale Group
Sitara Group
Faisal Group
Karachi Company
Total

12
15
10
11
12
10
10
20
100

Principal investment
Less Sales & Services
Gross Profit
Less Management Fee
Modarib Profit
Return on Investment

10
30

10,000,000
1,200,000
1,500,000
1,000,000
1,100,000
1,200,000
1,000,000
1,000,000
2,000,000
10,000,000
10,000,000
13,000,000
3,000,000
300,000
1,890,000

Profit

Earned
226,800
283,500
189,000
207,900
226,800
189,000
189,000
378,000
1,890,000

Profit

%
18.9
18.9
18.9
18.9
18.9
18.9
18.9
18.9

2,700,000
810,000

18.9

Capital
Share

2.3
2.8
1.9
2.1
2.3
1.9
1.9
3.8
18.9

Simple Modaraba

Less

Principal investment
Sales & Services
Gross Profit
Management Fee
Net Profit
Modarib
Rabal Maal

10
30
70

400,000
520,000
120,000
12,000
108,000
32,400
75,600
32,400
12,000

Modarib Earning
Modarib Management Fee

44,400

Gross Profit
63
27
10
37

Multiple Modaraba
Hasan
1 Ahmed
Hasan
2 Muhammad
Muhammad
Ahmed

40
60
40
60

500,000.0
32,400.0
48,600.0
250,000.0
18,000.0
27,000.0

81,000.0
50,000.0
45,000.0

3 Khan
Khan
Ahmed
4 Muhammad
5 Khan

40
60
10
10

250,000.0
36,000.0
54,000.0
300,000.0
350,000.0

100,000.0
90,000.0
5,000.0
10,000.0

Multiple Modaraba Loss

Hasan
Ahmed
Hasan

40
60

1 Muhammad
Muhammad
Ahmed
2 Khan
Khan
Ahmed
3 Ali
Ali
Ahmed

40
60
40
60
40
60

500,000.0
46,000.0
69,000.0
200,000.0
36,000.0
54,000.0
200,000.0
54,000.0
81,000.0
100,000.0

135,000.0
(20,000.0)
115,000.0

100,000.0
90,000.0
150,000.0
135,000.0

(20,000.0)

SALES PROCEEDS
Muhammad
Khan
Ali

10
10
10

300,000.0
350,000.0
80,000.0

10,000.0
15,000.0
(20,000.0)

Multiple Modaraba
Principle Investment
Bank

12,500,000
50

234,000.0
(50,000.0)
184,000.0

50

92,000.0
92,000.0

30
70

100,000.0
13,500.0
31,500.0

50,000.0
45,000.0

0
0

250,000.0
-

(50,000.0)
-

3 Aziz
Aziz
Bank

40
60

400,000.0
60,000.0
90,000.0

150,000.0
135,000.0

75,000

4 Ali
Ali
Bank

50
50

500,000.0
112,500.0
112,500.0

250,000.0
225,000.0

137,500

10
10
10
10

150,000.0
200,000.0
550,000.0
750,000.0

5,000.0

Rab-al-Maal
Hasan
1 Hasan
Bank
2 Ahmed
Ahmed
Bank

Sale Proceeds
Hasan
Ahmed
Aziz
Ali

15,000.0
25,000.0

326,000
1
18,500

Morabaha

First Form
Quantity
LPO Amount
Bank Purchase
Margin
Bank Financing
Bank Sale
Less Arboon
Bank Profit

Second Form
LPO Amount
Freight
Insurance
Storage
Tax
Selling Expenses
Less Arboon
Bank Financing
Sale Price
Less Less Financing
Gross Profit
Less Arboon
Net Profit
Morabaha Cost Plus

Price

20
20
20
20
20
20
20

25,000
24,000
5,000
19,000
25,800
5,000
1,800

Quantity
1,000
1,000
1,000
1,000
1,000
1,000
1,000
10

Price
3,500
250
50
50
20
50
3,920

1,000

4,100

1,000

180

LPO
Less

Add

Less
Less
Less

1
2

Product Sugar
Arboon in %
Bank Financing
Price of Sugar
Custom Duty
Tranport
Warehousing
Selling
Muccadum Fee
Total Cost of Sugar
Sale of Stock
Sale of Stock
Total Sale Receive
Total Bank Financing
Gross Profit
Arboon in %
Net Profit
Morahib Profit
Rab-Al-Maal Profit
Net Share Profit
Investors
Name
Brooks Group
Allaied Group

QUANTITY

PRICE

20,000
20

30,000

20,000
6
1
1
3
1
18,000
2,000
20,000

30,000
1,800
300
300
900
150
32,550
44,500
41,000
44,150

30.00
70.00

17,600
6,000
11,600
3,480
8,120

Ratio
Investment
12
15

Investment
531,000,000
63,720,000
79,650,000

3
4
5
6
7
8

Untied Group
Scan Croup
Service Group
Sitara Group
Faisal Group
Karachi Company
Total
Rab-Al-Maal Profit
Morahib Earning
Selling Expenses
Profit Share

10
11
12
10
10
20
100

53,100,000
58,410,000
63,720,000
53,100,000
53,100,000
106,200,000
531,000,000
162,400,000
18,000,000
69,600,000

Total Price
500,000
480,000
100,000
380,000
516,000
100,000
36,000
Amount
3,500,000
250,000
50,000
50,000
20,000
50,000
3,920,000
350,000
3,570,000
4,100,000
3,570,000
530,000
(350,000)
180,000

AMOUNT

600,000,000
120,000,000
480,000,000
600,000,000
36,000,000
6,000,000
6,000,000
18,000,000
3,000,000
651,000,000
801,000,000
82,000,000
883,000,000
531,000,000
352,000,000
120,000,000
232,000,000 ROI
69,600,000
58.00
162,400,000
30.58
232,000,000 35.64
Profit
Profit
162,400,000 Share
19,488,000
3.67
24,360,000
4.59

16,240,000
17,864,000
19,488,000
16,240,000
16,240,000
32,480,000
162,400,000
ROI

3.06
3.36
3.67
3.06
3.06
6.12
30.58
24.95
35.64

ROI

87,600,000

10.69
24.89

Musharka
Net Worth of Musharik
Financing
Present NW

10,000,000
2,000,000
8,000,000

1st Year Profit

2nd Year Profit
3rd Year Profit
4th Year Loss
5th Year profit
1st Year

(150,000)
(200,000)
210,000
410,000
610,000

Per Share Price

Share
8,000,000
10.00
2,000,000
10.00
(150,000.00)
(0.15)
9.85
Value

Networth Sponsors
Financier
Profit
Share Value
2nd Year
Networth
Working Capital Finance
Profit

No of Shares
1,000,000
200,000
800,000

Value
8,000,000
2,000,000
(200,000.00)

Share Value

Price Per
10.00
10.00
(0.20)

No: Of
Share
800,000
200,000

No: Of Shares
800,000
200,000

9.65

Price Per Share No: Of Shares

3 rd Year
Value
Networth
8,000,000
10.00
800,000
Working Capital Finance
2,000,000
10.00
200,000
Profit
210,000
0.21
Share Value
9.86
Price Per Share No: Of Shares
4 th Year
Value
Networth
8,000,000
10.00
800,000
Working Capital Finance
2,000,000
10.00
200,000
Profit
410,000
0.41
Share Value
10.27

5th Year
Net worth
Working Capital Finance

Price Per Share No: Of Shares

Value
8,000,000
2,000,000

10.00
10.00

800,000
200,000

Profit

Sale of Shares
Profit 4 th year
Profit 5th Year
Total Return on Investment

610,000

2,000,000

1.02
11.02
11.02

200,000

price per share

10.00

Financier
Profit
(120,000)
(30,000)

Financier
(160,000)
(40,000)

Financier Profit
7,888,000
1,972,000

Financier Profit
8,216,000
2,054,000

Financier Profit
8,816,000
2,204,000

2,204,000
54,000
204,000
2,462,000

Sukuk
Sukuk Subscription
Sukuk Holders

1
2
3
4
5
6
7
8

Value of
Sukuk
100,000

Total Amount
of subsciption
500,000,000

Invest
Ratio

Subscription

No of
Sukuk

Price

500,000,000

5,000
Sukuk
Holdings

5,000.00

Sukuk
Profit

Mr. Hasan

10

50,000,000

500

(29,452,500)

Mr. Ahmed

12

60,000,000

600

(35,343,000)

Mr.Muhammad

15

75,000,000

750

(44,178,750)

Mr. Siddiqui

25

125,000,000

1,250

(73,631,250)

40,000,000

400

(23,562,000)

Banki Islami

11

55,000,000

550

(32,397,750)

Financial Group

19

95,000,000

950

(55,959,750)

100

500,000,000

5,000

(294,525,000)

Mr.Kashif

Total
Principal investment

500,000,000

Less Sales & Services

32,500,000
(467,500,000)

Gross Profit
Less Management Fee

10

Modarib Profit

30

Net Profit
Profit on each Sukuk
1 No of Sukik
2 Sukuk Price at Maturity
3 Gross Profit

(46,750,000)

(126,225,000)
(294,525,000)
(58,905.00)

1250
21,250
7,500,000

(420,750,000)

519,750

-58.905

ROI
(58.91)
(58.91)
(58.91)
(58.91)
(58.91)
(58.91)
(58.91)