Murabaha
Al-Murabaha is one of the most prominent financing solutions provided by Yaqeen Bank, as it allows customers to purchase goods and services in accordance with the principles of Islamic Sharia. Murabaha sale is known as selling the commodity at the original purchase price with the addition of an agreed profit margin.
This service has two main cases:
Agency to purchase for a fee: where the client asks the Islamic bank to purchase a specific commodity, and pays its price plus a specific fee, relying on the bank’s experience in this field.
Purchase with the addition of a known profit: where the client asks the bank to purchase a commodity with specific descriptions, after agreeing on its purchase cost and adding a known profit to it. This type includes a promise from the client to purchase the commodity according to the agreed upon conditions, and another promise from the bank to complete the sale according to those conditions.
Service features:
Sharia Compliance
All financing formulas (Car Murabaha, building materials, durable goods) comply with Islamic Sharia regulations, ensuring that there is no usurious interest.
Flexible Financing
Providing various financing options to meet customers’ needs, whether for purchasing cars, durable goods, or building materials.
Price Transparency
Murabaha formulas are transparent, as the price is clearly specified before the transaction is completed, which helps avoid any surprises.
Convenient Payment
Customers can choose flexible payment plans that suit their financial capacity, which facilitates the payment process.
The conditions include submitting the necessary documents, such as personal identification, proof of income, and details of the transaction to be financed.
Yes, you can use Murabaha financing to purchase different types of cars, provided that they comply with the conditions specified by the bank.
The repayment period varies according to the type of financing and the amount, and customers can choose a period that suits their needs.
Fees may include processing costs and administrative expenses, which must be clarified when submitting the application.