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OLP Modaraba (formerly ORIX Modaraba) also offers Istisna, an asset based financing product.
The word Istisna is a derivative from the root word ‘Sa na’a, which means to manufacture or to construct something. Istisna is a contract of sale of specified items to be manufactured or constructed with an obligation on the part of the seller to deliver them to the purchaser upon completion.
A client who intends to purchase certain assets to be manufactured or constructed may approach the Modaraba. Modaraba acting as a seller and the client as purchaser would execute an Istisna contract. Once the asset is complete and in useable condition, the Modaraba would deliver the assets to the client on agreed delivery schedule. The Client would make the payment to the Modaraba pursuant to the terms agreed upon in the Istisna contract either in various instalment or, as the case may be, at the delivery of the asset.
OLPM is offering Istisna to reputable Corporate/SME clients having satisfactory and proven track record, financial standing and a business line in consonance with Shariah and/or any regulatory directives issued in this respect.
Compliant with the Shariah principles.
Accessible to reputable Corporates and SME clients.
Flexible Financing Tenor suited to client’s requirements.
A panel of Surveyors, legal counsel, Takaful & Insurance companies is engaged with ORIXM.
Flexible terms & conditions.