This Financing is based on the principle of Al-ljarah. By definition, Al-ljarah is a contract where the benefits/use of an asset is transferred by the owner (lessor) to the lessee at an agreed price/rental amount for an agreed period of time or Ijarah period. During the period the Ownership of the assets remains with PIM.
In Arabic it is called Shirkat-ul-Mutanaqisa. Diminishing Musharaka is just a Musharaka with an additional feature of decreasing ownership of one party. This differs from normal Musharaka, Where ownership ratio does not change. The closest term in conventional finance is redeemable capital.
Murabaha is a non-participatory mode of Islamic financing where the PIM sells the asset required by its client to the client on cost-plus profit basis. The asset is purchased by the PIM and carries the risk of any loss or damage to the asset as long as the asset remains under its ownership.