Shariah is a body of Islamic Law
Archives: FAQs
Who is Illegible for Interest Free Banking Service?
Individuals who run Sheria permitted business and agree to disclose their source of fund to check whether it is running based on sheria principles or not are allowed to use interest free banking services.
What does Interest free banking mean?
It is a banking business in which mobilizing or advancing funds in a manner consistent with Islamic Finance principle (Shari’ah) and mode of operation that avoids receiving or paying interest.
What do I need to do if there are changes to my contact details?
It is important that you inform us of any change in your contact details to ensure that all correspondences reach you in a timely manner. Murabaha Financing for consumer and mortgage International/Non-Governmental organizations Consumer and Mortgage Finance: Diaspora Consumer and Mortgage Finance Letter of Guarantees Facility (Kafalah): Bid bond Guarantee Advance payment Guarantee Performance bond...
What are the risks involved?
You are advised to carefully consider the following risk factors before making this financing decision; Failure of the supplier to deliver the good or adhere to preset specifications; Other specific shari’a related concerns.
What are the fees and charges I have to pay?
The customer is required to pay the fees and charges fees as set out in terms and tariffs of the bank for this product. If there are any changes in fees and charges that are applicable to your facility, the Bank will notify you at least 21 calendar days prior to the effective date of...
What are the fees and charges I have to pay?
The customer is required to pay the service charge and fees that is chargeable as per the Bank’s terms and tariffs except for the exempted fee and service charges for this product. If there are any changes in fees and charges that are applicable to your facility, the Bank will notify you at least 21...
What are the fees and charges I have to pay?
Customer is required to pay the service charge and fees that is chargeable as per the Bank’s terms and tariffs except the exempted fee and service charges for this product. If there are any changes in fees and charges that are applicable to your facility, the Bank will notify you at least 21 calendar days...
What do I need to do if there are changes to my contact details?
It is important that you inform us of any change in your contact details to ensure that all correspondences reach you in a timely manner.
What are the risks involved?
There is no risk involved in this product if transaction will be transacted according to the Sharia principle. However, customers are advised to make their own general risk assessment.