Purposes of Finance
Al Baraka Islamic Bank provides finance to meet all the needs of its business customers for various financing facilities, including the following:
Working Capital Finance: This includes financing the import of goods or the purchase of such goods from the local market as well as other short-term financial services.
Financing of Contracts for Contractors: These facilities are designed for contractors who carry out projects for the government or quasi-governmental bodies. Funding is provided throughout the construction period, as well as after the completion of the construction.
Project finance: Al Baraka Islamic Bank offers long-term financing for new projects as well as for expanding existing projects in different sectors of the local market.
Trade Finance: These facilities include different modes of finance, documentary letters of credit, letters of guarantee etc. which are offered to exporters and importers.
Real Estate Finance: through this product, Al Baraka Islamic Bank grants the necessary funding for the purchase of property, which provides customers with good investment opportunities. Financing under this program will be based on a thorough study of the economic feasibility of project and sources of repayment as well as providing security in the form of real estate properties.