Murabaha

Murabaha service is one of the most prominent financing solutions provided by Al-Yaqeen Bank, as it allows customers to purchase goods and services in accordance with the principles of Islamic Sharia. Murabaha sale is defined as selling the commodity at the original purchase price with the addition of an agreed profit margin.

Types of Murabaha:

• Car Murabaha: Financing the purchase of cars in accordance with the controls of Islamic Sharia, which makes it easier for individuals to obtain cars that suit their needs.
• Durable goods Murabaha: Includes financing the purchase of durable goods such as furniture, electrical appliances and household items, allowing individuals to improve their living standards.
• Furniture Murabaha: Special financing for the purchase of home furniture, where flexible options are provided that are in line with the needs of customers.
• Murabaha for building materials: Financing the purchase of building materials needed for various projects, which supports individuals and companies in achieving their construction goals.

This service has two main cases:

• Agency for 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 terms, and another promise from the bank to complete the sale according to those terms.