Other Goods Finance

Other Goods Finance

Other Goods Finance works based on a Murabaha contract, which is an Islamic type of financing assets with a predetermined profit and within a fixed term. Al Baraka buys the specific asset you want, before selling it back to you at the buying price plus profit. We sell to you at a rate we’ve agreed upon when entering the agreement, bringing your dreams closer to reality as part of a convenient and trusting partnership.

    • Maximum Financing Amount BD100,000/-
    • Maximum Tenure is 7 Years
    • To apply for Other Goods Finance, you must be 21 years old or above.
    • Minimum Salary is BD300/-
    • Minimum Age is 21 Years & Maximum Age is 60 Years for Males & 55 Years for Females
    • Debt Service Ratio (DSR) is 50% for income below BD 3,000/- & 65% for income above BD3,000/-
    • Takaful Life Insurance is mandatory
    • Maximum Tenure is 7 Years
    • Maximum Financing Amount BD100,000/-

    To see a full list of fees and charges visit this link.

  • Applying for a Other Goods Finance is easy. If you’re 21 years old or above, all you need to do is complete the application form below and either submit it online or bring it to any Al Baraka branch, along with the required documents.

    Required Documents:

    • Two valid ID’s (Valid residence permit for expatriates)
    • Latest Pay Slip / Salary Certificate
    • Bank statement for the last 3 months (6 months for self-employed Individuals)
    • Valid Commercial Registration for self-employed Individuals

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