Commodity Finance

The commodity finance program offers a wide range of solutions to the bank's customers in order to suit their personal and professional requirements. The Arab Islamic Bank purchases the commodity to be gained and owned by the customer, then sells it to the customer, through which payments are made in easy monthly installments at a competitive profit rate in line with the Murabaha system. In addition to the possibility of benefiting from Musawamah programs according to the bank's special agreements with various companies.

Commodity Finance Features 

• The financing is compatible with Islamic Sharia
• The possibility of benefiting from different companies according to the bank's agreements
• Financing for up to $80,000, provided that the deduction from income does not exceed 50%
• A repayment period of up to 84 months
• Meeting the needs of private and public sector employees, professionals, and all categories
• Free Takaful life insurance for financing according to the instructions of the Monetary Authority

Required Documents

• National ID
• Bank statement for the previous six months
• Employment verification certificate (salary slip or municipal council certificate)
• A price quote for the subject of financing 
• Obtaining an undertaking to transfer the salary to the Arab Islamic bank or presenting a suitable bank guarantee

Note: This financing is in line with Islamic Sharia and the Monetary Authority's instructions.