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Old 09-12-2017, 03:40 PM   #12
cptbutton
 
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Default Re: [Spaceships] Islamic Banking and Financing Spaceships Purchases

Quote:
Originally Posted by David Johnston2 View Post
As best as I understand it it would work by making the bank an actual silent partner. They jointly purchase the ship with their client, and as co-owner are entitled to a slice of the proceeds from the ship's operation. This is technically not interest and continues until their partners manage to earn enough to buy them out which won't necessarily be for the same price as the original money the bank put up for the purchase.
By "buy them out" do you mean when the bank's cumulative cut equals the original loan amount plus some additional amount, however determined?

Or do you mean the borrower saves up enough to pay back the original loan plus some additional amount, however determined?

Honest Eneri's Bank and Grill loans Qumel 1,000,000 plutons to buy a merchant starship. In return HEBaG gets 10% of the profit. Lets say the adjustment is 200,000 plutons.

Does Qumel own the ship free and clear once they have made 12 million plutons and paid a cumulative 1,200,000 plutons to HEBaG?

Or does Qumel need to save up 1,200,000 plutons from their 90% and then pay it too HEBaG to be free and clear? On top of the 10% share they have been paying?
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