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Individuals Finance

Mortgage Financing Program:

·        Purchase of residential land, construction and completion of buildings, its maintenance through Mugawalamode of finance or installment sale or leasing ending with ownership (hire-purchase) at concessional terms and loan term up to 10 years.

·        Program for financing organizations’ employees, self-employed and Expatriates.

·        Offering flexible options to finance purchase or building or completion or maintenance of housing and offices.

What distinguishes us from others?

·        Transparency and flexibility in financing decisions.

·        Modest and timely financing procedures.

·        Low cost in terms of fees and profit margins.

·        Concessional loans.

Required Documents to receive Finance:

1.     The funding request showing thepreferred mode (Mogawala, Hire-purchase. Installment sale) showing the purpose, amount of the loan, method of repayment, and collateral.

2.     A valid ID card.

3.     Lease contract or certificate of land ownership.

4.     Employment certificate to be issued by the employer or a letter of salary transfer according to the bank’sstandard showing appointment date and salary.

5.     Detailed information of the building to be financed (sketch site plan).

6.     Authorized and sealed six months bank statement for non-clients.

7.     Legal documents in case of extra income.

8.     Expatriates should provide authorized copy of the employment contract, salary certificate, and validpermit of residency for six months from the country of residence in addition to authorization of all documents by the employer and the embassy.

Auto Financing Program:

·        A product for financing the purchase of new and used vehicles through Murabaha or hire-purchase with modest and easy terms and repayment period up to 5 years.

What distinguishes us from others?

·        Transparency and flexibility in financing decisions.

·        Modest and timely financing procedures.

·        Low cost in terms of fees and profit margins.

·        Concessional loans.

Required Documents to receive Finance:

1.     Filling the funding request.

2.     A valid passport, ID card or national number.

3.     Certificate of residence.

4.     Employment certificate to be issued by the employer (one must havea permanent job).

5.     Salary certificate.

6.     Business license (in case of commercial activities and self-employment).

7.     Bank statement.

8.     Vehicle’s registration certificate or import certificate in case of importedvehicles.

9.     Any other documents requested by the bank.

Elites Financing Program:

·        A program for financing self-employed individuals of specific professions with a Master degree or higher like physicians, pharmacists, and laboratory technicians.

·        A product for provision of inputs and equipment for productive and service sectors focusing on medical and engineering sector (Clinics, laboratories, pharmacies, engineering offices) with concessional terms and repayment period up to 3 years.

What distinguishes us from others?

·        Transparency and flexibility in financing decisions.

·        Modest and timely financing procedures.

·        Low cost in terms of fees and profit margins.

·        Concessional loans.

Required Documents to receive Finance:

1-    Filling the funding request.

2-    A valid passport, ID card or national ID.

3-    Employment certificate to be issued by the employer (one must havea permanent job).

4-    Ownership certificate or lease contract of the facility (clinic, pharmacy, laboratory, office etc.).

5-    Practicing certificate from the specialized authority.

6-    Scientific degree certificates.

7-    Salary and income certificate.

8-    Detailed information about the required equipment including invoices and sales offers.

9-    Any other documents requested by the bank.

RayihBalak Program:

·        A product for financing individuals purchase of different commodities including: housing and office furniture, machinery and medical equipment, electrical) with concessional terms and repayment up to 3 years.

What distinguishes us from others?

·        Transparency and flexibility in financing decisions.

·        Modest and timely financing procedures.

·        Low cost in terms of fees and profit margins.

·        Concessional loans.

Required Documents to receive Finance:

1-    Filling the funding request.

2-    A valid passport, ID card or National ID.

3-    Employment certificate to be issued by the employer (one must have a permanent job).

4-    Letter of salary or pension transfer.

5-    Business license or registration certificate (for self-employed and commercial activities).

6-    Certificateof residence.

7-    Bank statement.

8-    Detailed information about the required equipment including invoices and sales offers.

9-    Any other documents requested by the bank.

Microfinance Program:

·        A product for financing different small and micro enterprises for economically active low income individuals with modest and concessional terms and repayment period up to 3 / 2 years.

·        The targeted groups of the program are the low income clients of the bank including: professionals, employees, small merchants and farmers, herders, productive families, and small industries’ owners.

What distinguishes us from others?

·        Transparency and flexibility in financing decisions.

·        Modest and timely financing procedures.

·        Low cost in terms of fees and profit margins.

·        Concessional loans.

Required Documents to receive Finance:

1-    A copy of a valid ID card.

2-    A copy of the Nationality certificate.

3-    Recent certificate of residence addressed to Aljazeera Bank.

4-    A copy of valid business license or salary certificate or practicing certificate authorized by the popular committee.

5-    A recent photograph.

6-    A feasibility study of the project to be funded.

7-    Copy of ownership certificate of the building in case of financing completion and maintenance of buildings for leasing purpose.

8-    Invoice for the required material to be funded.

9-    Lease contract or ownership certificate of the shops or farm land to be funded.

10-     Filling funding request.

11-     Field visit report for the estimation of the client’s income.