- Certificate based
- The tenor can be for a period of 12 months up to a period of 60 months
Project Financing/Manufacturing/Construction (Istisna’)
Istisna’ contract refers to an agreement to sell to or buy from a customer a non-existent asset which is to be manufactured or built based on the specifications outlined by the ultimate buyers at an agreed pre-determined selling price and to be delivered on a specific future date. Type of development includes housing, construction of commercial and industrial building/project.
- Earn profit on maturity;
- May apply for other banking facilities;
- Choice of renewing the principle plus profit;
- Can be pledged as security for other facilities.
- 18 years and above and has the capacity to contract;
- Government departments, businesses, associations and co-operatives;
- Customers who are looking for higher returns.
How to Apply / Documents Required
- Application to be made in person
- Complete the relevant application form with our experience investment managers