If you don't want to spend your money at once and want to own your favorite car, whether new or used, Al Salam Bank can help you fulfill your dream by financ ing it.

Murabaha is an Islamic finance scheme which has been approved by Islamic scholars. It's a method of purchasing and selling rather than lending, where the bank buys the preferred new or used car and sells it to the buyer with a predetermined agreed profit, and on an installment basis.

Car Murabaha features:

Predetermined profit rate

Requirements for individuals:

1. Valid passport or authentic copy from employer
2. Employment and Salary verification certificate
3. Bank statement for 3 months.
4. Quotation and details of the Car
5. Vehicle registration card, if the car is registered
6. Nil Down payment option, financing term is 60 months

Requirements for companies:

1. Original trade license
2. Company’s original establishment contract
3. Trade licensee’s passport or power of attorney
4. Bank statement for last 3 months
5. Quotation and details of the Car
6. Vehicle registration card, if the car is registered