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Individual services

Financing

Financing

Al-Yaqeen Bank offers a distinguished group of Islamic financing solutions that comply with the controls of the Sharia Supervisory Board, to meet the financial needs of individuals in accordance with the principles of Islamic Sharia. This service aims to provide innovative financial solutions that contribute to supporting individuals in achieving their ambitions without the need to deal with usurious interest.

Service features:

Transparency and Clarity

All financing services are provided in accordance with the principles of Islamic Sharia, while ensuring transparency and clarity at all stages of dealing.

All financing conditions are clearly and accurately explained, taking into account the controls of the Sharia Supervisory Board.

A Variety of Solutions

A variety of Islamic financing solutions are available to suit your various needs.

Ease of Procedures

Al-Yaqeen Bank is distinguished by the ease of financing procedures, while providing support and assistance to customers at all stages of dealing.

 

Commitment to Islamic Sharia

Al-Yaqeen Bank is committed to Islamic Sharia in all its dealings, while ensuring that there are no Sharia (legal) violations.

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Required documents

  • A current account at one of Al-Yaqeen Bank branches. Provided that salaries are received regularly at the branch, and that the salaries received are not less than six months.
  • A guarantor is required to have a current account, whose salaries are deposited regularly to the bank under the same conditions as the first paragraph.
  • A recent original salary certificate for the client and the guarantor, with a pledge from the employer not to transfer his salaries to any party except after referring to the bank.
  • The national number of the client and the guarantor approved by the competent authorities.
  • Copies of proof of identity (ID card or passport).
  • A display invoice for the goods to be purchased from one of the suppliers of goods, with the condition that there is a current account in one of our branches for the supplier, and that the account opening file is approved by the Compliance and Money Laundering Unit, taking into account the follow-up of the company’s documents periodically and ensuring that the documents are renewed.

Financing formulas

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Frequently Asked Questions

How can I get the Murabaha service?

You can visit your branch and apply for the service accompanied by the required documents

What is the profit margin known in the Murabaha service?

Profit margin for each year:

  • 1 year == 10% profit margin
  • 2 years == 10% profit margin
  • 3 years == 10% profit margin
  • 4 years == 12% profit margin
  • 5 years == 15% profit margin
  • 6 years == 18% profit margin
  • 8 years == 24% profit margin
Which companies can I apply through?

All companies and shops that have an account with Al-Yaqeen Bank.

What is the financing value that can be obtained?
  • In the case of a car product with a maximum value of 120 thousand (salary divided by 3 times 96)
  • In the case of a building materials and sanitary materials product with a maximum value of 60 thousand (salary divided by 3 times 72)
  • In the case of a furniture and durable goods product with a maximum value of 30 thousand (salary divided by 3 times 72)