The Sudanese Al Baraka Bank finances in the form of the described lease in the trust ending with the benefit of education and the lease ending in ownership through a gift or a symbolic price, according to what is prepared in the study.
Sectors where Ijarah is applicable
- Sectors of the application of the lease described as liabilities ending in benefit
- Travel sector (not including tickets, visas and passports)
- Education sector
- Sectors of the application of the lease described as a liability ending in ownershipTransport sector/commercial sector/agricultural sector/real estate sector
Steps to Ijarah Financing
- The customer submits an application to the bank stating the specifications of the commodity he wants.
- The bank studies the process, and ascertains its economic feasibility. It determines the conditions and guarantees for its ratification.
- The bank owns the commodity or service that is the subject of the lease.
- Sign contracts and take guarantees.
Frequently Asked Questions
Answers to your questions
What types of financing are available?
Sharia-compliant financing such as Murabaha, car financing, and goods/services financing.
What are the requirements for financing?
Subject to bank policies and Central Bank regulations, including creditworthiness assessment.
How is the monthly installment calculated?
Based on the financing amount and duration after application review.
How can I apply for financing?
Through bank branches or digital channels.
How can I track my financing request?
Through the branch or customer service.