Murabaha personal financing
The bank buys the goods, records its ownership, then sells them to the customer at cost plus a disclosed profit, with the schedule generated on business days.
Consumer
Retail Islamic banking
Customers expect instant, app-first banking; the contracts behind it still run on systems built for interest.
Islamic banks and windows serve retail customers with current accounts, investment accounts and personal financing, each resting on a different contract. When the core system only knows loans and deposits, ownership, profit-sharing and rebate events are handled outside it. IslamicOpenFinance™ models each contract directly and exposes it through the same APIs a digital channel needs.
Financial products
What you build on IslamicOpenFinance™
Qard and wadiah current accounts
Current accounts carry their contract basis, so statements, fees and any gifts follow the rules the product's Shariah resolution sets.
Profit-sharing investment accounts
Mudarabah or wakalah accounts show the profit-sharing ratio or fee, the pool and the distribution, with reserves applied under the approved policy.
Account information with consent
Customers let a third party read balances for a stated purpose and expiry, and revoke it in one step.
Early settlement with ibra'
The outstanding amount and any rebate granted under the institution's policy are quoted and recorded as one event.
Value chain
The actors in this chain
IslamicOpenFinance™ connects them with one contract model, one policy and one evidence trail.
CustomerIslamic bank or windowShariah Supervisory BoardMerchants and suppliersThird-party providersPayment rail
Typical flow
A typical flow, step by step
- Customer request
- Affordability check with consent
- Bank buys the asset
- Ownership recorded
- Murabaha sale
- Instalments
- Closure and evidence
Live demo
See it in the terminal
Layla buys appliances through Qantara Islamic Bank (demo): the bank owns them first, then sells at cost plus a disclosed profit over twelve months. Demo data
DemoAll institutions, people, amounts and events are fictional demonstration data. Nothing here is a Shariah ruling, an offer or advice; approving a product is for each institution's own Shariah board and regulator.
Glossary