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Financing for Business Expansion

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Based on Diminishing Musharakah.

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Saadiq Business Mortgage Finance is based on the Islamic structure of “Diminishing Musharakah”. Diminishing Musharakah is a form of co-ownership in which the Bank and customer share the joint ownership of a tangible asset in an agreed proportion. It is agreed that one of the co-owners (customer) will purchase, in periodic instalments, the share of the other co-owner (Bank) until the ownership of that tangible asset is completely transferred to the purchasing co-owner (customer). Furthermore, along with the purchase of share, the (purchasing) co-owner will also make agreed periodic payments (rent) for the usage of other co-owner’s share in the asset, till ownership of the asset is completely transferred to the customer.

Application Eligibility

  • Acceptable collaterals are residential/commercial property in approved areas.
  • Minimum Business Vintage of 3 years is required.
  • Credit Bureau report on customer entity / guarantor is mandatory.
  • Maximum Finance To Value of 60% for Karachi, Islamabad and 50% for Lahore and Rawalpindi.
  • Nationality/Residential Status Pakistani/Resident
  • Entities: Sole Proprietors, Partnerships, Limited Companies.

Documents Required

  • Client submits Saadiq Business Mortgage Finance Application form and all relevant documentation. In case client doesn’t have existing relationship with bank, company account opening form will also be submitted by client.
  • Bank will review the application and approve / reject the application.
  • Upon approval Relationship Manager will share sanctioned limit / offer letter with the client.
  • Upon client acceptance Relationship Manager will coordinate with client to complete documentation formalities.
  • Post completion of these formalities financing amount will be disbursed.

You can avail financing in selected areas within Karachi, Lahore and Islamabad/Rawalpindi cities.

The client has undertaken in the relevant facility agreements to pay to the Bank an amount as charity to be paid by the Bank on client’s behalf, for charitable purposes as approved by the Shariah Board of the Bank.

Charity amount, late payment penalty, will be levied as per the prevailing Saadiq Schedule of Charges. This charity amount is paid by the Bank on client’s behalf, for charitable purposes as approved by the Shariah Board of the Bank.

SCB has an international team of professionals with Islamic finance expertise dedicated to developing Shariah approved financial solutions for the SCB Group. Additionally, our Shariah Board provides guidance to our Islamic Banking team and approves the Islamic products. The process of product development, Shariah compliance review and Shariah audit ensures that Saadiq SCB products are Shariah compliant, free of Riba (interest) and within the guidelines prescribed by the Shariah (Islamic law). Click here to review Shariah compliance certificate (Fatwa) for Saadiq Business Mortgage finance.

Yes. Following partial purchase price will apply:
1st year 5.5% of the payment amount
2nd year 4.5% of the payment amount
3rd year and onward 3.5% of the payment amount

Following early purchase price will apply:
1st year 5.5% of the outstanding amount
2nd year 4.5% of the outstanding amount
3rd year and onward 3.5% of the outstanding amount

Saadiq Business Mortgage Finance Saadiq Business Mortgage Finance.
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