Murabaha can be defined as a special type of sale contracts, whereby the cost of the Murabaha subject matter and the profit made by the seller under the transaction are disclosed to the buyer. Under this Product, the Bank will be the seller while the customer will be the buyer.
Under these products, the Bank purchases a Shariah compliant asset(s) (e.g., home appliances, furniture, equipment…etc.) from a third-party supplier (for the Cost Price) and subsequently sells it to its Customer on Murabaha basis. The Murabaha Price payable by the Customer is the sum of the Cost Price paid to purchase the asset from the supplier plus a defined Profit amount.
FMFB-A’s Murabaha Goods Finance is perfectly designed to fulfil the needs of SMEs and Corporate Businesses for purchasing of raw materials, machineries, vehicles etc.
Features and Benefits
- 100 per cent Shari’ah-compliant financing
- Attractive profit rate
- SMEs Tenor: From 6 months to 3 years of financing
- Corporate Tenor: From 6 months to 5 years of financing
- SMEs Financing Limits: AFN 500,001 to AFN 15,000,000 or equivalent in USD
- Corporate Financing Limits: AFN 15,000,001 to AFN 300,000,000 or equivalent in USD
- Seasonal repayment option for agricultural finance
- Bank statement once a year
- Fully transparent transaction with low processing fees and no additional charges
- No hidden costs
- Original title deed of property plus guarantor/stock
- Registered/equitable mortgage of property
- Hypothecation charge on entire present & future current assets of the business
- Personal/financial guarantees
How to Apply
For more information please call our Customer Service Centre by dialing 599 or visiting any of our branches.