You can now own your dream property through Palestine Islamic Bank’s property financing program as per the Islamic Sharia Compliance via Murabaha, or Ijara at a maximum of USD 200,000 over a 25-year installment plan.

This real estate financing program includes only pre-finished and finished residential apartments, lands or shops, with financing up to $ 150,000 and a payment period of up to 15 years.

Terms

  • Personal sponsorship for the client's spouse. A first-degree relative's guarantee is necessary if the customer is single.
  • The down payment percentage must be no less than 15% of the land or property value.
  • The customer's salary must be transferred to the bank from an approved employer with whom they have three years service.
  • The property must be registered within the Land Department (TAPU) and located within the Palestinian Authority Areas A or B.
  • The property is mortgaged in favor of the bank and its appraisal by the bank's appraiser
  • The client must take out a Takaful life insurance policy and a real estate insurance policy and lease them for the benefit of the bank.

The Property Financing Program in this format includes residential apartments, land, shops and other leasable properties. Payment is made in monthly installments commensurate with the income of the customer and ends with the transfer of ownership of the property from the bank to the customer. The financing is up to USD 200,000 with a payment period of up to 25 years.

Terms

  • Personal sponsorship by the client's spouse a first-degree relative's guarantee is obtained if the customer is single.
  • The down payment percentage should be no less than 15% of the land or property value.
  • The customer's salary must be transferred to the bank from an approved employer, with whom they have at least 3 years service.
  • The property must be within the Palestinian Authority areas A or B, tiered, and ready for housing or use.
  • The property must be registered in the bank’s name with the official departments throughout the financing period.
  • A Takaful life insurance policy must be taken out, as well as a real estate insurance policy and must be leased for the benefit of the bank.

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