Imaan Local Purchase and Contract Finance
The Imaan Local Purchase and Contract Financing service provides credit opportunities for our business banking customers dealing in permissible goods and services
What does it offer you
The Imaan local purchase and contract financing service provides credit opportunities for our business banking customers dealing in permissible goods and services.
The product is structured under the Murabaha - Cost Plus financing mode for clients that meet our assessment criteria.
It is completely compliant with the principles of Islamic commercial jurisprudence to ensure we maintain the trust of our clients and safeguard our reputation in the industry.
What you need to apply
1. A formal application letter
2. Board resolution (if a limited liability company) approving the request
3. Duly accepted offer letter
4. Copy of supply order/contract document
5. Copy of goods/product invoice from supplier
6. Duly executed irrevocable domiciliation agreement for the full LPO value of the contract into a collections account
7. 12 months bank statement (for new to bank customer)
8. Satisfactory credit bureau report
9. Duly executed statement of personal guarantee of company owner(s)
10. Any other document that may be required the bank
Our advisory council of experts
- Imam Abdur – Rahman Ahmad
- Mufti Ahmed Suliman
- Dr. Ibrahim Muhamad Mansur
- Shykh Muhammad Sani Idris
- Imam Muhamed Bin Uthman