Financing model
Simply put: a lease that ends in ownership.
Ijarah Muntahia Bittamleek
Ijarah Muntahia Bittamleek (IMB) means “a lease ending in ownership”. The investor buys the vehicle and remains its legal owner, you use it against a fixed monthly rent, and after the final payment the vehicle becomes yours.
How it works
No interest (Riba): you pay for the use of a vehicle, not for money over time.
Two separate documents
Under Shariah law (AAOIFI Standard No. 9) a lease and a sale cannot be combined into a single contract. Every transaction is therefore secured with two entirely separate legal documents.
Rights, duties and risk
In Islamic finance profit is only justified if risk is taken. The investor bears the risk of the asset as its owner; the driver bears the cost of operating it.
Amana Mobility is an adviser and introducer, not a contracting party. The lease and the promise to transfer are concluded between buyer and investor; we structure, explain and accompany both sides through to the transfer of ownership.
IMB compared with conventional Swiss leasing
| IMB at Amana Mobility | Conventional finance lease | |
|---|---|---|
| Interest | None, fixed rent | Interest component in the lease instalment |
| End of term | Ownership passes to you | Residual or balloon payment open |
| Total loss | Lease ends instantly, nothing owed | Residual claims and gaps possible |
| Vehicle unusable | Rent suspended for those days | Instalments keep running |
| Risk in the asset | With the owner, the investor | Largely with the lessee |
Frequently asked