- 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.
- 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.
- Target Groups:
- Employees or Retirees.
- Freelancers.
- Financing Percentage: 100% of the cost of the trip, with a maximum of 3 Million Iraqi Dinars per customer.
- Age of the Customer or Sponsor: From 18 Years to 63 Years
- Financing Ceiling:
- Minimum = 500 Thousand Iraqi Dinars
- Maximum = 3 Million Iraqi Dinars
- Financing Period: Maximum of 12 Months
- Profit Rate: 15%
- 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 |