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
  1. Financing Term: Maximum of 18 months
  2. Profit Rate: 15%
  3. Example:
Financing AmountProfit RateFinancing Term MonthTotal Financing Including ProfitMonthly PremiumTotal Financing Profit
7,000,00015%188,575,000476,3891,575,000
Except for the administrative and operational commissions charged to the bank

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