Murabaha Personal Finance
Being your trusted partner, we offer you Shari’a compliant financing, available for furniture, electronics, household appliances or any other asset as long as it is not prohibited by Shari’a. Our solutions are tailor-made to provide easy access to financing against transfer of monthly salary.
How does it work?
We have designed Al Yusr Goods Finance based on well-known Shari'a concepts of Murabaha.
- Based on Murabaha structure
- Flexible terms and conditions
- Attractive pricing
- Facilitates purchase of any household item that you need – ranging from furniture to electronics
- Finance upto 100% of goods’ value
- Maximum financing amount is subject to compliance of DBR 50% without home and 60% with home finance
- Financing available from RO 1,000 and above
- Maximum finance tenor for Home Appliances & Electronic items upto 5 years
- Maximum finance tenor for Building Materials & Furniture upto 7 years
- Available for all nationalities
- Minimum age of 18 years at the time of application
- Maximum age of 60 years at the end of facility
Income (Salary) Requirement
- Monthly salary requirement – RO 350 (minimum) for Government, Semi Government, leading private sector (A grade companies) employees and pensioners.
- RO 400 (minimum) for employees of B grade companies.
- RO 500 (minimum) for employees of C grade companies
- Monthly salary requirement – RO 500 (minimum) for Government, Semi Government, leading private sector (A & B grade companies) employees.
- RO 750 (minimum) for employees of C grade companies.
- Copy of valid ID / Passport (Omanis)
- Copy of valid passport with valid Visa and copy of a valid Resident Card (expatriates)
- Address proof (copy of utility bill)
- Quotation in favor of Al Yusr, Oman Arab Bank from the dealer of the goods
- Last six month’s bank statement
- Life Takaful / Insurance
- For Salaried customers:
- Original salary certificate from the employer addressed to Al Yusr, Oman Arab Bank
- Salary transfer letter from the employer to Al Yusr, Oman Arab bank.
- Undertaking from the employer to transfer the "End of Services Benefits" to the salary account maintained with Al Yusr, Oman Arab Bank