yousuf:

Trim Sheet for Ijarah Financing

Machine price Rs.5 million
Arboon 25%
Period 36 month
Gross Monthly Income Rs.400,000
Affordability at 30%
Tax 2%
Insurance 1% per year
1. What is the cost price of the equipment?
2. What is the financing amount?
3. What is the rental amount?
4. What is the total rental?
5. What is the Expense and Saving percentage

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

Equipment Financing
48
1.0
2.0
25.0
48
47.69
48

5,000,000
50,000
100,000
5,150,000
1,250,000
3,900,000
81,250.0
38,750.0
120,000.0
5,760,000.0
3,900,000.0
1,860,000.0

Arboon
Total Ijarah Adjustment
Gross Monthly Income
Recovery Level
Saving
Expenses
Total Burden on Income

30

1,250,000.0
7,010,000
400,000
120,000
20.31
9.69
30.00

ent?

centage

Financing

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

GMI x AR /100
MI x 100/ GMI
MR x 100/ GMI

Assignment Modaraba

Syendicate

Modaraba
Amount of Investment
1 Brooks Group
2 Allaied Group
3 Untied Group
4 Scan Croup
5 Services & Sale Group
6 Sitara Group
7 Faisal Group
8 Karachi Company
Total

Investment Amount

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

Capital

Share

19
19
19
19
19
19
19
19

2,700,000
810,000

19

2.27
2.84
1.89
2.08
2.27
1.89
1.89
3.78
19

Simple Modaraba

Less

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

10
30
70

400,000
400,000
520,000
120,000
12,000
108,000
32,400 Gross Profit
75,600
63
32,400
12,000

Modarib Earning
Modarib Management Fee

44,400

27
10
37

Multiple Modaraba
Hasan
1 Ahmed
Hasan
2 Muhammad

40
60

500,000.0
34,800.0
52,200.0
250,000.0

87,000.0
50,000.0

Muhammad
Ahmed
3 Khan
Khan
Ahmed
4 Muhammad
5 Khan

40
60
40
60
10
10

18,000.0
27,000.0
250,000.0
40,000.0
60,000.0
300,000.0
350,000.0

45,000.0
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

40
60
40
60

500,000.0
49,600.0
74,400.0
200,000.0
36,000.0
54,000.0
200,000.0
60,000.0
90,000.0
100,000.0

144,000.0
(20,000.0)
124,000.0

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

Ali
Ahmed
SALES PROCEEDS
Muhammad
Khan
Ali

40
60
10
10
10

(20,000.0)

300,000.0
350,000.0
80,000.0

10,000.0
15,000.0
(20,000.0)

yousuf:

Bank Islamic finance under Modaraba Mode

Mr. Hasan Rs.100,000 at Management Fee 10% Profit 30:70
Mr. Ahmed Rs250,000 at Management Fee 10% Profit 35:65
Mr.Aziz Rs.400,000 Management Fee 10% Profit 40:60
Mr. Ali Rs.500,000 management Fee 10% Profit 50:50
Upon Maturity the sales proceeds reported Rs.150,000, Rs.200,000, Rs.550,000 and Rs.750,000. After collecting the
profitability Bank Muslim share with its Rab-al-Maal at profit sharing 50:50. Give following details:
1. What is the total investment amount?
2. What is the profit share of Bank Muslim and each Modarib?
3. What is the Net Profit sharing between Bank Muslim and Rab-al-Maal?
4. What is the total earning of each Modarib
5. What is the profit percentage of Rab-al-Maal?

Multiple Modaraba
Principle Investment
Bank
Rab-al-Maal
Hasan
1 Hasan

12,500,000.00

50

92,000.0
92,000.0

234,000.0
(50,000.0)
184,000.0

30

100,000.0
13,500.0

50,000.0
45,000.0

50

326,000.0
0.74
18,500.0

Bank
2 Ahmed
Ahmed
Bank
3 Aziz
Aziz
Bank
4 Ali
Ali
Bank
Sale Proceeds
Hasan
Ahmed
Aziz
Ali

70

31,500.0

0
0

250,000.0
-

(50,000.0)
-

40
60

400,000.0
60,000.0
90,000.0

150,000.0
135,000.0

75,000.0

50
50

500,000.0
112,500.0
112,500.0

250,000.0
225,000.0

137,500.0

10
10
10
10

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

5,000.0
15,000.0
25,000.0

Morabaha

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

Bank Profit

Total Price

20
20
20
20
20

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

500,000
480,000
100,000
380,000
516,000

20
20

5,000
1,800

100,000
36,000

Morabaha Cost Plus

20,000 tons of sugar imported under LPO issued by General

Trader at Arboon value of 20% having purchase price of Rs.35,000
PMT. Cost includes Duty 1%, Transport 1%, Warehousing 1%,
Selling Expense 5% and Macadam Fee 1%. 20,000 MT sugar sold
at 10% Profit and shared between Morahib and RM at 45:55. The
Cost Price is contributed by number of Rab-al-Maal and were
given Share of Profit according to Ratio of Investment

LPO
Product Sugar
Add Custom Duty %
Tranport %
Warehousing %
Selling %
Muccadum Fee %
Total Cost of Sugar
Arboon in %
Bank Financing

QUANTITY

20,000
1.0
1.0
1.0
5.0
1.0
20.00
81.65

PRICE

35,000
350
350
350
1,750
350
38,150
(7,000)
31,150

AMOUNT

700,000,000
7,000,000
7,000,000
7,000,000
35,000,000
7,000,000
763,000,000
(140,000,000)
623,000,000

Less
Less

Less

Sale of Sugar %
Gross Profit %
Arboon
Net Profit %
Morahib %
Rab-al-Maal
Rab-al-Maal
Capital
1 Brooks Group
2 Allaied Group
3 Untied Group
4 Scan Croup
5 Service Group
6 Sitara Group
7 Faisal Group
8 Karachi Company
Total

LPO Amount
Freight
Insurance
Storage
Tax
Total purchase price
Add Bank Profit
Sale Price

5.00
23.3
5.0
45.0
55.0

12
15
10
11
12
10
10
20
100

100
100
100
100
100
100
100
100

40,058
8,908
(7,000)
1,908
858
1,049

801,150,000
178,150,000
(140,000,000)
38,150,000
17,167,500
20,982,500

623,000,000
74,760,000
93,450,000
62,300,000
68,530,000
74,760,000
62,300,000
62,300,000
124,600,000
623,000,000

Profit
20,982,500
2,517,900
3,147,375
2,098,250
2,308,075
2,517,900
2,098,250
2,098,250
4,196,500
20,982,500

10,000
200
100
50
120
10,470
500
10,970

1,000,000
20,000
10,000
5,000
12,000
1,047,000
50,000
1,097,000

ral
Rs.35,000
1%,
gar sold
55. The
were

3.37
Capital
Share
0.40
0.51
0.34
0.37
0.40
0.34
0.34
0.67
3.37

Musharka
Net Worth of Musharik
Financing

100,000,000
30,000,000

Present NW
1st Year Profit
2nd Year Profit
3rd Year Profit
4th Year Loss

70,000,000

5th Year profit

1st Year
Networth Sponsors
Financier
Profit

Value
70,000,000
30,000,000
(15,000,000.00)

Share Value

(15,000,000.0)
(10,000,000.0)
21,000,000.0
26,000,000.0
30,000,000.0
Per Share Price
Share
100.00000
100.00000
-15.00000

700,000

No: Of
Share
700,000
300,000

85.00000

2nd Year
Networth
Working Capital Finance
Profit

No of Shares
1,000,000
300,000

Value
70,000,000
30,000,000
(10,000,000.00)

Share Value

Price Per
No: Of Shares
100.00000
700,000
100.00000
300,000
-10.00000
75.00000

3 rd Year
Value
Price Per Share
No: Of Shares
Networth
70,000,000
100.00000 700,000.00
Working Capital Finance
30,000,000
100.00000 300,000.00
Profit
21,000,000.00
21.00000
Share Value
96.00000
4 th Year
Value
Networth
Working Capital Finance
Profit
Share Value

Price Per Share

No: Of Shares
70,000,000
100.00000 700,000.00
30,000,000
100.00000 300,000.00
26,000,000
26.00000
122.00000

5th Year

Price Per Share

No: Of Shares
70,000,000
100.00000 700,000.00
30,000,000
100.00000 300,000.00

Net worth
Working Capital Finance

Value

Profit

30,000,000.0

56.00
156.00000

Sale of Shares
Profit 4th year
Profit 5th year

300,000.00

46,800,000.0
36,600,000.0

16,800,000.0
6,600,000.0
16,800,000.0

price per share

100.0000

Financier
Profit
(10,500,000.00)
(4,500,000.00)

Financier
(7,000,000)
(3,000,000)

Financier Profit

Financier Profit
85,400,000.00
36,600,000.00

Financier Profit
39,200,000.00
16,800,000.00

40,200,000.0
134

Sukuk
Sukuk Subscription
Sukuk Holders

1 Mr. Hasan
2 Mr. Ahmed
3 Mr.Muhammad
4 Mr. Siddiqui
5 Mr.Kashif
6 Banki Islami
7 Financial Group
8
Total

Value of
Sukuk
100,000

Total Amount
of subsciption
500,000,000

Invest
Ratio

Subscription

Price

500,000,000

5,000
Sukuk
Holdings

10

50,000,000

500

(29,452,500)

12

60,000,000

600

(35,343,000)

15

75,000,000

750

(44,178,750)

25

125,000,000

1,250

(73,631,250)

40,000,000

400

(23,562,000)

11

55,000,000

550

(32,397,750)

19

95,000,000

950

(55,959,750)

100

500,000,000

5,000

(294,525,000)

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

No of
Sukuk

(46,750,000)

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

1250
21,250
7,500,000

(420,750,000)

519,750

-58.91

5,000.00

Sukuk
Profit

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