Archives

Car Financing Product

1. The bank covers the costs of financing the purchase of cars to become accessible to customers with easy premiums and easy financing terms and conditions

1. The Product Purpose:
   • Finding the appropriate financing within the provisions of Islamic Sharia for the costs of financing the purchase of cars to become accessible to everyone with easy premiums and easy terms and conditions.
   • Finding a competitive product among banks that would attract a large segment of society and through which the rest of our products shall be spread.
   • Disseminating and spreading the bank’s name.
   • Keeping up with the market to ensure competition within the banking products required in the Iraqi market.
2. Target Groups:

1. Employees or Retirees.
2. Freelancers.

3. Financing Percentage: 100% out of the car’s price, up to a maximum of 25 Million Dinars.
4. Age of the Customer or Sponsor: From 18 Years to 63 Years
5. Accredited Companies:

• Alsadeq Trading Automotive Group
• Noor Al Manqal Car Rental and General Trading Company

6. Financing Ceiling:

1. Minimum = 15 Million Iraqi Dinars
2. Maximum = 25 Million Iraqi Dinars

7. Financing Term: Maximum of 60 months
8. Profit Rate: 6.5%
9. Example:

Financing Amount	Profit Rate	Financing Term Month	Total Financing Including Profit	Monthly Premium	Total Financing Profit
20,000,000	7%	60	26,500,000	441,667	6,500,000
Except for the administrative and operational commissions charged to the bank

Financing Product of Clinics, Medical Materials and Devices for Doctors

1. The bank covers the costs of financing the establishment of clinics and medical devices for doctors within easy premiums and easy terms and conditions.

1. The Product Purpose:
   • Finding the appropriate financing within the provisions of Islamic Sharia for the financing costs of equipping clinics and medical devices for doctors within easy premiums and easy terms and conditions.
   • Finding a competitive product among banks that would attract a large segment of society and through which the rest of our products shall be spread.
   • Financing the purchase of medical supplies and medicines.
   • Spreading the bank’s name within the category of doctors that is one of the target groups to attract.
   • Keeping up with the market to ensure competition within the banking products required in the Iraqi market.
2. Target Groups: The applicant for financing is required to be a practicing physician for a period of no less than 3 years inside Iraq.
3. Financing Percentage: 100% of the value of the costs of financing the establishment of clinics and medical devices for physicians.
4. Age of the Customer or Sponsor: From 30 Years to 63 Years
5. Financing Ceiling:

1. Minimum = 5 Million Iraqi Dinars
2. Maximum = 50 Million Iraqi Dinars

6. Financing Term: Maximum of 36 months
7. Profit Rate: 7%
8. Example:

Financing Amount	Profit Rate	Financing Term Month	Total Financing Including Profit	Monthly Premium	Total Financing Profit
40,000,000	7%	36	48,400,000	1,344,444	8,400,000
Except for the administrative and operational commissions charged to the bank

Household Electrical Appliances Financing Product

1. The bank covers the costs of financing household electrical appliances to become accessible to customers in easy installments and under easy financing terms and conditions.

1. The Product Purpose:
   • Finding the appropriate financing within the provisions of Islamic Sharia for the costs of financing household electrical appliances to become accessible to everyone in easy premiums and easy terms and conditions.
   • Finding a competitive product among banks that would attract a large segment of society and through which the rest of our products are spread.
   • Disseminating and spreading the bank’s name to most segments of society.
   • Household electrical appliances are consumer goods that need to be constantly replaced and developed, that is, it is a commodity in great demand.
2. Target Groups:

1. Employees or Retirees.
2. Freelancers.

3. Financing Percentage: 100% of the value of the cost of household electrical appliances.
4. Age of the Customer or Sponsor: From 18 Years to 63 Years
5. Financing Ceiling:

1. Minimum = 500 Thousand Iraqi Dinars
2. Maximum = 3 Million Iraqi Dinars

6. Financing Term: Maximum of 12 months
7. Profit Rate: 15%
8. Example:

Financing Amount	Profit Rate	Financing Term Month	Total Financing Including Profit	Monthly Premium	Total Financing Profit
2,500,000	15%	12	2,875,000	239,583	375,000
Except for the administrative and operational commissions charged to the bank

Furniture Financing Product (for the International Furniture Company)

1. The bank covers the costs of financing the purchase of furniture so that the total amount is paid through monthly premiums.

1. The Product Purpose:
   • Providing products that meet the market’s needs and requirements in accordance with Islamic Sharia.
   • Finding the appropriate financing within the provisions of Islamic Sharia for financing the purchase of furniture and finding a competitive product among banks that would attract a large segment of society and through which the rest of our products are spread, and the bank’s name is disseminated to most segments of society.
   • Finding joint cooperation between furniture fairs and our bank.
   • Keeping up with the market to ensure competition within the banking products required in the Iraqi market
2. Target Groups:
   • Employees or Retirees.
   • Freelancers.
3. Financing Percentage: 100% of the goods price, up to a maximum of 15 Million Dinars per customer.
4. Age of the Customer or Sponsor: From 18 Years to 63 Years
5. Approved Companies: International Furniture Company
6. Financing Ceiling:

1. Minimum = 1 Million Iraqi Dinars
2. Maximum = 15 Million Iraqi Dinars

7. Financing Term: Maximum of 24 months
8. Profit Rate: 5%
9. Example:

Financing Amount	Profit Rate	Financing Term Month	Total Financing Including Profit	Monthly Premium	Total Financing Profit
3,500,000	5%	24	3,850,000	160,417	350,000
Except for the administrative and operational commissions charged to the bank

Financing the Domestic Workers Recruitment

1. The bank covers the costs of recruiting and bringing in domestic workers so that the total amount is paid through monthly premiums

1. The Product Purpose:
   • Providing products to individuals that meet the market’s needs and requirements in accordance with Islamic Sharia.
   • Finding the appropriate financing within the provisions of Islamic Sharia for the expenses and costs of recruiting domestic workers.
   • Finding a competitive product among banks that would attract a large segment of society and through which the rest of our products are spread, and the bank’s name is disseminated to most segments of society.
2. Target Groups:
   • Employees or Retirees.
   • Freelancers.
3. Financing Percentage: 100% of the cost of recruiting a domestic worker, with a maximum of 7 Million Dinars per customer.
4. Age of the Customer or Sponsor: From 18 Years to 63 Years
5. Financing Ceiling:

1. Minimum = 5 Million Iraqi Dinars
2. Maximum = 7 Million Iraqi Dinars

6. Financing Term: Maximum of 18 months
7. Profit Rate: 15%
8. Example:

Financing Amount	Profit Rate	Financing Term Month	Total Financing Including Profit	Monthly Premium	Total Financing Profit
7,000,000	15%	18	8,575,000	476,389	1,575,000
Except for the administrative and operational commissions charged to the bank

Marriage Financing Product

1. Financing Ceiling:
   1. Minimum = 1 Million Iraqi Dinars
   2. Maximum = 15 Million Iraqi Dinars
2. Financing Period: Maximum of 24 Months
3. Profit Rate: 8%
4. Example:

Financing Amount	Profit Rate	Financing Term Month	Total Financing Including Profit	Monthly Premium	Total Financing Profit
7,500,000	8%	24	8,700,000	362,500	1,200,000
Except for the administrative and operational commissions charged to the bank

Financing the Umrah Trip and Tourist Trips

1. The bank finances the costs of the Umrah trips and tourist trips according to the quotation submitted by the Tourism and Travel Companies. It is resold again to the customer, in addition to the price, the value of the bank’s profits and any other expenses and commissions. The total amount is paid in installments monthly.

1. The Product Purpose:
   • Providing products to individuals that meet the market’s needs and requirements in accordance with Islamic Sharia.
   • Finding the appropriate financing within the provisions of Islamic Sharia to finance the Umrah Trip and Tourist Trips and to make it accessible to everyone with easy installments and easy terms and conditions.
   • Finding a competitive product among banks that would attract a large segment of society and through which the rest of our products are spread, and the bank’s name is disseminated to most segments of society.
   • Meeting the growing demand for Umrah trips and tourist trips.
2. Target Groups:
   • Employees or Retirees.
   • Freelancers.
3. Financing Percentage: 100% of the cost of the trip, with a maximum of 3 Million Iraqi Dinars per customer.
4. Age of the Customer or Sponsor: From 18 Years to 63 Years
5. Financing Ceiling:

1. Minimum = 500 Thousand Iraqi Dinars
2. Maximum = 3 Million Iraqi Dinars

6. Financing Period: Maximum of 12 Months
7. Profit Rate: 15%
8. Example:

Financing Amount	Profit Rate	Financing Term Month	Total Financing Including Profit	Monthly Premium	Total Financing Profit
1,500,000	15%	12	1,725,000	143,750	225,000
Except for the administrative and operational commissions charged to the bank