Wakala for Lending
Within the framework of Wakala precepts, Al-Falaah appoints an entrepreneur (Customer) as an agent and invest in its ongoing business to carry out specific permissible financial transactions related to trading & manufacturing on behalf. It is a contract of agency where Customer will act as a specific agent of the Al-Falaah, while receiving a fixed management fee (Wakala Fee). Profit of the Wakala will be shared according to a mutually pre-agreed profit rate. If the agent managed to conclude a surplus (higher than agreed profit rate), he may retain it as agreed on the Wakala Agreement.
Benefits at a glance :
* Most suitable for Working Capital requirements
* Repayments can be made through fixed installments or as structured payments to suit your cash-flow
* Applicable for Trading & Manufacturing businesses

Wakala for Lending

Within the precepts of the Wakala concept, the customer (Finance requester) is appointed as an agent of the Financial institution (Al-Falaah), with an undertaking that the funds invested are utilized for Shari'ah compliant business transactions to earn profits, as agreed in the Wakala agreement. The agent is provided with short term finance as specified in the Wakala agreement to which repayment methods with Investment and profit returns are flexible.

This model is most suited for short term business and working capital requirements.

Benefits at a glance :

  • Most suitable for Working Capital requirements
  • Repayments can be made through fixed installments or as structured payments to suit your cash-flow
  • Applicable for Trading & Manufacturing businesses

 


CONTACT
General Enquiries:
Phone : +94 11 588 0880
Fax : +94 11 286 5606
Email : lofin@lankaorix.com
Address : 100/1, Sri Jayawardenapura Mawatha, Rajagiriya, Sri Lanka.