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Home < Commercial Finance
Commercial Finance

 

The commercial Finance department offers finance and other banking services to small and medium sized businesses (SME) and self-employed individuals. The department provides financing for commercial and non-consumer purposes where repayment sources are related to business activities.

The Commercial Finance department plays an essential role in achieving the bank goals by providing superior and professional customer service to this important segment of the economy. It provides proven Sharia-compliant solutions to meet the needs of a wide range of individuals, small, and medium sized businesses. Our relationship

Officers are trained to deliver efficient and timely banking service including:

1.    Understanding the customers’ financing needs.

 

2.    Custom tailors financing proposals to meet those needs:

 

·         Credit limits to fund working capital requirements for inventory and other requirements.

·         Fixed assets financing for machinery and equipment to assist business growth.

·         Contract financing to execute particular including:

 

o    Issuance of letters of Guarantees.

o    Finance asset purchase locally or overseas.

 

3.    Real estate financing to specialized firms and individuals for real estate investment or development purposes including:

 

·         Real estate purchases for investment or resale purposes.

·         Construction financing (Istisnaa) for new developments.

·         Long term leases (Ijara) to facilitate real estate acquisition/refinancing.

 

4.    Trade finance and issuance of letters of Guarantees and letters of credit enabling customers to bid and execute governmental and semi- governmental tenders.

 

5.    Active management of customer’s relationships to ensure timely response to their needs.

 

Available financing services include:

Direct facilities:

1.     Murabaha (cost plus)

2.     Musawama (negotiable selling)

3.     Mudaraba (profit sharing)

4.     Term leasing with option to buy

5.     Participation

6.     Agency

7.     Istisnaa (projects finance)

Indirect facilities:

  • Letters of credit
  • Letters of guarantee
  • Collection and payment services

Deposit services:

  • Current accounts
  • Savings accounts
  • Term deposits
  • Check collection
  • Funds transfers
  • e banking
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