In order to facilitate the process of customers' ownership of commodities, the bank provides them with Commodity Finance program, through which payment is made in monthly installments commensurate with their income with the Murabaha system compatible with the principles of Islamic Sharia and approved by the bank's Sharia Supervisory Board, and it is divided into two parts:

The program is for customers whose salaries are transferred to the Palestinian Islamic Bank, the financing periods are as follows:

The repayment period

Maximum limit

Guarantees

Service period

60 months

10,000  $

With the guarantee of the customer's salary

Minimum of 3 years

72 months

20,000 $

With the guarantee of the customer's salary and a guarantor whose salary is transferred

Minimum of 5 years

84 months

40,000 $

With the guarantee of the customer's salary and two guarantors whose salaries are transferred

More than 5 years

 

Terms

  • The applicant’s salary and the sponsor’s salary must be transfered to the bank.
  • The client's obligations as a debtor should not exceed 50% of his proven monthly income
  • The applicant must sign bills of exchange to cover the value of the installments of one year of the life of the financing.

The program targets customers whose salaries are not transferred to the bank and exceed $ 2,500 per month from any entity approved by the bank, the financing periods for this program are as follows:

The repayment period

Maximum limit

Guarantees

Service period

48 months

15,000$

Cheques corresponding to the number and value of the installments, in addition to the personal sponsorship of the wife or first-degree relative.

Minimum of one year

60 months

25,000 $

Minimum of 3 years

72 months

35,000 $

More than 3 years

 

Terms

  • The client's obligations as a debtor should not exceed 50% of his proven monthly income.
  • The applicant must sign bills of exchange covering the value of the installments of one year of the life of the financing.

 

Rate