Investment and Projects Financing (IPF)
(Previously Customer Dependent Purchase Unit – CDPU)
The Investment and Projects Financing (IPF) unit has been established to cater to the specific interests of customers (both members and non-members) that are not covered by the Periodic Business Unit. The key features and guidelines of the IPF are as follows:
Features of IPF
- Customized Goods Acquisition:
Customers may request specific goods such as motor cars, bicycles, motorcycles, laptops, refrigerators, generators, TV sets, plots of land, houses, etc. The Venture will procure these items and sell them to the applicant. - Application and Pricing:
- Applicants must complete designated forms for their requests.
- A percentage markup or profit is added to the cost of the goods after their acquisition by the Venture.
- Ownership Transfer:
- The Venture retains all necessary documents for the goods until payment is fully completed.
- Upon complete payment, the Venture issues official receipts for the purchased items.
- Funding Source:
Funds for IPF activities are primarily drawn from the Special Purpose Savings Account (SPSA), supplemented by other designated funds. - Eligibility Criteria for Beneficiaries:
- Beneficiaries must have savings or deposits covering at least 30–40%of the total cost of the requested goods in their account or as cash deposit.
- Private Investment Financing:
- Individuals seeking funds for personal private investments may apply under the mudaraba principle, which involves a negotiated profit-sharing arrangement.
- The Venture retains no less than 40% of the profits, following risk analysis and other necessary investment procedures.
- Middleman Services:
The IPF also provides a platform for members who own items such as those listed in (1) to connect with other interested members for transactions. Terms and conditions apply to these services.
