Alizz Islamic Bank’s new range of financing solutions

ALIZZ Islamic Bank has unveiled a wide variety of Sharia-compliant commercial financing products for salaried individuals. Further offering a number of benefits and special features designed to meet the expectations of its business clients.

Customers that avail the Alizz Islamic Bank commercial financing solutions have the advantage of purchasing different goods, including equipment, machinery, vehicles or even property through Murabaha, Ijarah or Forward Ijarah options.

Sharia-based Murabaha allows customers to buy equipment and goods at competitive prices whereas Ijarah solutions help businessmen purchase land, and Forward Ijarah helps them construct facilities at competitive prices.

Under Murabaha, the bank will purchase the asset from the seller based on the customer’s request and sell it to the customer at cost plus the agreed profit rate, concluding the Murabaha sale contract. The most important feature of this product is that the customer will know the profit mark-up and instalments at the time of signing the deal. Another feature is that the Murabaha cost remains unchanged throughout the term. Moreover, the easy procedures allow the customer to own the goods immediately.

Under Ijarah, the customer will be given the right to utilize or lease the property for a specific period while the bank remains the property owner.