Large companies that are trusted in terms of Sharia aspects (Alinma Bank, Bank AlJazira, Al-Rajhi Bank)
Frequently Asked Questions
Yes, a share portfolio is created in the name of the client, and all purchased shares are transferred thereto at the client’s disposal, materializing the Sharia receipt
The sale is done directly by the client (online)
Yes, depending on the fluctuation in share price and the time difference between purchase and sale (which usually takes from an hour to an hour and a half)
According to the Capital Markets Authority, it takes two working days to transfer the amount
No, the client has the right to keep the shares or sell and get cash
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Yes, the finance is compliant with the regulations of Islamic Shariah and approved by the Shariah Committee
Yes, the client can sell the commodity himself
Yes, and they are paid up after bringing the standing order and the VAT payment at 15% of the administrative fees
Yes, there are agency fees for selling the commodity
The minimum is SAR 20,000 and the maximum is SAR 200,000
Yes, all profits are deducted and only the profits of 3 installments will be retained
Yes; and the commodities are shares, iron, and cars
It depends on the time taken by the applicant for finance to provide the required documents and their accuracy and validity. For companies, the receipt of finance takes a maximum of 7-10 working days if all required documents are furnished
Yes, if the client pays the Company on a regular basis
Not, we do not
No, he/she can not
Yes, they can, provided that the salary is not less than SAR 8,000
No, there is not
At the application stage, the client and the guarantor must visit the branch
It is not required, in the case of employees of civil public sector and military sectors, that a guarantor be provided, but for employees of the private this is required
Yes, and the finance is deposited into the account provided by the client for depositing the salary only
Yes
Yes, it affects it, depending on the other credit data of the client and the guarantor
Yes, it affects it, depending on the other credit data of the client and the guarantor
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