With Amãna’s Property Financing Scheme, you do not pay an interest-bearing loan. Instead, you and Amãna become co-owners of the property. You enter into a co-ownership agreement that establishes your joint ownership with Amãna and spells out each party’s rights and obligations.

As part of the contract, you agree to buy Amãna’s share in the property through affordable monthly payments over an agreed period of time. Your incremental acquisition of Amãna’s share will ultimately lead you to full ownership. Your monthly payments will also include a rental for your exclusive use and enjoyment of the whole property. In total, these payments will constitute a fixed monthly amount that is competitive with what you would pay under a conventional mortgage.

Our product, based on the principle of Diminishing Musharaka, is designed for property purchases as well as for the replacement of an existing conventional mortgage.

In the case of a new property purchase, your initial share of ownership in the property is determined by your initial investment. For eligible customers, the down payment may be just 30% of the property’s cost price. You will start by owning 30% and Amãna will own 70%.