Finance

personalinner4.pngHome Financing

With our Home Financing, we offer a comprehensive Shariah Compliant Home Financing solution that best meet your financing needs.

Modes of Financing

Benefits

  • Margin of Financing (MOF) up to 100%
  • Financing of Related Expenses,i.e., legal fees, valuation fee & stamp duty;
  • Financing tenure of up to 36 months.
  • Flat annual rate of 12%
  • A Shariah-compliant home financing.

 

 

 

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MicroDahab-MFI is an Islamic Microfinance Institution that provides financial services to growing number of Micro-clients to reach the enormous demand for financial services in the country. Microdahab-MFI has launched Youth Business Challenge Project; a project for generating employment for the youth. Therefore, we are inviting creative and effective business concepts to strengthen the Somali youth and generate productive employment as outlined in the project objectives.

 

 

 

 

 

 

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Features

  • Unlimited Teller transactions
  • Free Quarterly Statement of Accounts.
  • Access to all financing and investment products
  • No monthly charges
  • SMS notifications
  • Savings Accounts can be opened for minors*

*Provided that the minor’s father or custodian according to a court order signs the application

Business Financing (Term Financing for Work Capital)

Business Financing is an exclusive financing solution granted to a business entity to finance its working capital requirement. Essentially, it is a specific form of term financing based on acceptable Shariah contracts designed to alleviate the shortfall in customer’s cash flow; to enable companies to fund their business for any purposes.


Vehicle Financing – Murabahah

Our Vehicle Financing is there to ease your burden while owning your dream vehicle.

Features

Margin of Financing Up to 90% of all types and models
Financing Tenure Up to 24 months
Financing Rate Please refer to our nearest branch for the latest rates offered.
Eligibility
  • Individual minimum age of 18 years and above
  • Somali citizen
  • Fixed Income Earner

Benefits

  • Selling price : fixed and known
  • No hidden or extra charges imposed
  • Fast approval

Documents Required

  • Photocopy of Identity Card (front and back)
  • Photocopy of Valid Driving License
  • Evidence of cash flow/ source of income, e.g. employee contract,
  • Business Registration, (for self-employed which ever applicable)
  • Confirmation letter from employer
  • Copies of latest 6 months Bank Statement (Salary Crediting Account); or
  • Other Supporting Documents as may deemed necessary and acceptable by the Bank for additional income
  • Recommendation letter from DMT/DBI
  • Proposed Security
  • Third party guarantor (If needed)

 

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With our Home Financing, we offer a comprehensive Shariah Compliant Home Financing solution that best meet your financing needs.

Modes of Financing

  • Murabahah
  • Istisna
  • MusharakahMutanaqisah
 

Benefits

  • DBI account
  • ID/Passport and Personal photo
  • Official request detailing upon the nature of financing, price and the period of settlement.
  • Proforma Invoice (If relevant)
  • Evidence of cash flow/ source of income, e.g. employee contract, Business Registration,(for self-employed which ever applicable)
  • Confirmation letter from an employer
  • For land/building property, legal ownership documentation needed
  • Bank statement (Last six months)
  • Recommendation letter from DMT/DBI
  • Proposed Security
  • Third party guarantor (If needed)

Personal Vehicle Financing –Murabahah Our Vehicle Financing is there to ease your burden while owning your dream vehicle.

 

Features

Margin of Financing Up to 90% of all types and models
Financing Tenure Up to 24 months
Financing Rate Please refer to our nearest branch for the latest rates offered.
Eligibility
  • Individual minimum age of 18 years and above
  • Somali citizen
  • Fixed Income Earner

 

 

personalinner6.pngBenefits

  • Selling price : fixed and known
  • No hidden or extra charges imposed
  • Fast approval

Documents Required

  • Photocopy of Identity Card (front and back)
  • Photocopy of Valid Driving License
  • Evidence of cash flow/ source of income, e.g. employee contract,
  • Business Registration, (for self-employed which ever applicable)
  • Confirmation letter from employer
  • Copies of latest 6 months Bank Statement (Salary Crediting Account); or
  • Other Supporting Documents as may deemed necessary and acceptable by the Bank for additional income
  • Recommendation letter from DMT/DBI
  • Proposed Security
  • Third party guarantor (If needed)