It helps SMEs own vehicles, selected goods, equipment’s, and other. through AlYusr in easy installments.
Most Notable sectors:
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Education.
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Health.
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Agriculture.
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Manufacturing.
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Service.
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Communication and technology.
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Arts and entertainment.
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Car Leasing.
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Catering and food
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Transportation and storage.
General Conditions:
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Finance period starts from one year as a minimum to five years as a maximum
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Official letter from customer explaining the purpose of the facility and how it will pay back.
Required Documents:
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Official letter from customer explaining the purpose of the facility and how it will pay back.
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Completed and signed application
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Authorization letter SIMAH report (all relevant CR’s & ID’s)
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Completed and signed credit facilities Form
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Copy of the record to be borrowed and the main record
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Identity image of all partners
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Copy of Value Added Certificate
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Domains (not older than 1 month)
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Audited financial statements for the last three years
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Company's Memorandum of Association and Partner's Resolutions
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Copy of Zakat Certificate
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Copy of social insurance certificate
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Certificate of classification of contractors (if any)
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License certificate relating to the exercise of the activity
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Licensing of the General Authority for Foreign Investment
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List of vehicles owned by (Tam) for the contracting, car rental and the conductor sector
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List of owned equipment (for the construction and industrial sectors)
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List of existing and completed projects (for the construction sector)
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Real Estate Pictures (Mortgage)
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A statement of account for the last 6 months (Authorization to match bank statement)
Calculated Examples:
*The above table is for example only , and the annual percentage rate may vary according to the amount, maturity period and creditworthiness for each customer
Product |
APR |
Administrative fees |
Min or Max Adminstrative fees |
Murbaha |
25% - 35% |
1% |
Min 1% |
* Terms and conditions apply.