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Based on Diminishing Musharakah.

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Saadiq Business  Term 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

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

Customer will be levied a late payment penalty. This penalty will be paid in charity by the Bank as per Islamic Banking principles.

Late payment penalty will be levied as per the prevailing Schedule of Charges. This penalty will be paid in charity by the Bank as per Islamic Banking principles with the instructions of Shariah Board.

The Takaful rate charged to the customer is 0.040% per annum of the financing amount and it is communicated via the sales representative to the customer. Customer also signs a Takaful letter which has the applicable rate mentioned.

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 and Shariah review ensures that SCB’s Shariah compliant products are 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 Term finance.

Saadiq Business Term Finance Saadiq Business Term Finance.
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