Be a step ahead
Murabaha
If you are looking at financing for purchase of raw materials, home materials, goods, and etc. Then our Murabaha is best suited for you!
Requirements
- Have an account with Idman Community Bank (ICB)
- Request Letter
- 3-6 months Bank Statements
- Sale agreement showing purchase price and any payments made (invoice)
- Copy of logbook and registration documents (if its car, Bajaj, etc)
- Guarantee letter or property collateral
- Copy of ID/Passport and 2 colored passport size photos
- Copy of Certificate registration (if its company)
- Certified copy of Memorandum and Articles of association.
- Company profile
- Copy of valid passport and 2 colored passport size photos for each of the directors/ guarantor
- Facility Application Form
- Down payment 20%
- Introduction letter from employer (if employed) and For Self-employed Applicants-Please include the business registration form
- Proof of Income i.e. salary certificate/contract. Please provide the latest 3 consecutive months’ salary slips/vouchers (if employed)
- Property Valuation Report (for completed properties)
- Processing fee of 0.5% of the financed amount
- Other documents as per bank’s policy
- Account Opening Fee $5
Features and Benefits
- Murabaha can be used by small, medium, commercial enterprises & corporate entities.
- Lower monthly installment with longer payment period
- Murabaha facility provides an ideal Raw materials/ finished goods financing solutions
- Finance both new and used cars and other Items.
- Financing from as low as USD 3,000
- Affordable monthly installments
- Competitive profit rates
We are here for you!
The bank follows Shari’ah Law which seeks a “just” and “equitable” distribution of resources.