Ijarah Finance works on the rent-to-own principle known as Ijarah Muntahiya Bit Tamleek: a lease with the option to own the asset when it ends. It’s used to buy homes, refinance an existing mortgage, or acquire vehicles, trucks, machinery and equipment for a business.
Thabet, its newest product, gives a pre-agreed fixed payment that doesn’t move with the RBA cash rate. There’s also an Islamic SMSF option and low-doc finance for self-employed people. The business is owned by Mortgage Providers Pty Ltd.
Please mention that you found them on Melbourne Local Guide.