Knowing the importance of providing tailor made Islamic banking services to fit the needs of our clients . We have facilitated the process of obtaining the house of your dreams, while complying with the Islamic Sharia'ah, based on a long term financing structures.
Murabaha to purchase residential apartments and, houses
* The Typical APR is a unit of measurement that represents profit and any other cost imposed on the client through the bank as a result of product contract
||Up to 25 years
||40% of the house cost & can be reduced to 25% in case the house is a first residence
||BRR "Beirut Reference Rate" + 1.75% p.a.
Required documents and conditions related to “MASKANI” Program:
- The client must be at least 18 years old.
- A copy of the identity card or passport.
- The client must be an employee for more than two years or self-employed.
- A duly certified statement of the salary or the source of income.
- Documentation related to the real estate must be submitted (a copy of the title deed, a mark-free real estate certificate, and an agreement with the original property owner stipulating the price of the property).
- Monthly payment must not exceed 35% of the monthly income.
- A life insurance covering the outstanding Murabaha amount.
- A fire and natural disaster insurance policy.
- 1st degree mortgage on the residence.