Ethical Partnerships for Progress

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Motor Vehicle Asset Finance

Motor Vehicle Asset Finance

  • Purpose: Financing personal motor vehicles.
  • Shariah Contract: Murabaha or Diminishing Musharaka.
  • Limits: KES 5,000 – 2,000,000.
  • Member Contribution: 30%.
  • Repayment: 6–60 months.
  • Cost: Documentation Service Fee: KES 500 – 25,000. Expected Profit Rate: 12–18% reducing balance depending on tenor.