Commodity Finance
In order to facilitate the process of customers' ownership of commodities, the Bank offers the Commodity Finance Program, through which payments are made in monthly installments in line with their income and the Murabaha system that is compatible with the principles of Islamic Sharia and approved by the Bank's Sharia Supervisory Board. The Commodity Finance Program is divided into two parts:
The Program is designed for customers whose salaries are transferred to the Palestinian Islamic Bank. The financing periods are as follows:
|
The repayment period |
Maximum limit |
Guarantees |
Service period |
|
60 months |
10,000 $ |
With the guarantee of the customer's salary |
Minimum of 3 years |
|
72 months |
20,000 $ |
With the guarantee of the customer's salary and a guarantor whose salary is transferred to the Bank |
Minimum of 5 years |
|
84 months |
40,000 $ |
With the guarantee of the customer's salary and two guarantors whose salaries are transferred to the Bank |
More than 5 years |
Terms
- The applicant’s salary and the sponsor’s salary must be transferred to the Bank.
- The client's obligations as a debtor should not exceed 50% of their proven monthly income.
- The applicant must sign Bills of Exchange to cover the value of the installments of one year of the financing cycle.
The Program targets customers whose salaries are not transferred to the Bank and exceed USD $2,500 per month, and are generated by any Bank-approved entity. The financing periods for this Program are as follows:
|
The Repayment Period |
Maximum Limit |
Guarantees |
Service Period |
|
48 months |
15,000$ |
Cheques corresponding to the number and value of the installments, in addition to the personal sponsorship of the wife or first-degree relative. |
Minimum of one year |
|
60 months |
25,000 $ |
Minimum of 3 years |
|
|
72 months |
35,000 $ |
More than 3 years |
Terms
- The client's obligations as a debtor should not exceed 50% of their proven monthly income.
- The applicant must sign Bills of Exchange covering the value of the installments of one year of the financing cycle.
Rate
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