Corporate Banking Finance – Al Masraf

Corporate Banking Finance

Corporate Banking Finance

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Murabaha Fixed Assets finance will help our clients with financing equipment’s and other capital expenditure so it will help meet their business needs as they pursue new markets and opportunities.

Murabaha is a sales contract that fixes the price of certain goods or items required by our SME, commercial or corporate clients, including a pre-agreed profit margin. It works in a simple way. Client identifies what they want and choose the seller. Al Masraf fixes the deal along with a profit. You then settle with Al Masraf according to the settlement terms agreed.

The Murabaha financing varies according to the nature of the purchases and the working capital cycle of the customers – typically from 90 to 180 days for raw materials and finished goods, but up to 4 years for machinery and equipment.

Features and Benefits

  • Dedicated Relationship Manager to focus on your business needs
  • Flexible Finance Tenure
  • Large finance amount that suits your business needs
  • Competitive profit rate and no hidden charges
  • Reasonable and acceptable collateral requirements
  • Finance available for new and used vehicles
  • Low Processing fee for due diligence and documentation
  • Quick processing
  • 24/7 access to your account through Al Masraf Corporate Online Banking

Documentation

  • Quotation for the required Goods addressed to Al Masraf Islamic Banking
  • Promise to Purchase
  • Murabaha Offer and Acceptance Letter
  • Trade License copy
  • Audit Financials for the last 2 Years
  • Commercial Registration
  • Memorandum of Association
  • Passport copy of Sponsor
  • Passport copy of directors/shareholders with Visa pages of signing authorities
  • Emirates ID of Directors/Shareholders/Signatories
  • If the Memorandum of Association does not cover opening and managing powers, then a Board of Resolution is required to be provided authorizing such powers, duly attested by concerned authorities
  • Valid Passport with residence visa page for Expatriates/Emirates ID

Our tailor-made financial package can provide fleet and commercial vehicle financing for companies engaged in transportation, construction, contracting, rent-a-car, trading, and service or manufacturing activities.

It is a convenient way for companies to finance their fleet, with complete peace of mind. It also makes perfect business sense and effective use of their capital resources.

Features and Benefits

  • Dedicated Relationship Manager to focus on your business needs
  • Finance up to 60months
  • Flexible down payments
  • Large finance amount that suits your business needs
  • Competitive profit rate and no hidden charges
  • Reasonable and acceptable collateral requirements
  • Finance available for new and used vehicles
  • Low Processing fee for due diligence and documentation
  • Quick processing
  • 24/7 access to your account through Al Masraf Corporate Online Banking

Documentation

  • Quotation from approved auto dealers
  • Promise to Purchase
  • Murabaha Offer and Acceptance Letter
  • Trade License copy
  • Audit Financials for the last 2 Years
  • Commercial Registration
  • Memorandum of Association
  • Passport copy of Sponsor
  • Passport copy of directors/shareholders with Visa pages of signing authorities
  • Emirates ID of Directors/Shareholders/Signatories
  • If the Memorandum of Association does not cover opening and managing powers, then a Board of Resolution is required to be provided authorizing such powers, duly attested by concerned authorities
  • Valid Passport with residence visa page for Expatriates/Emirates ID

Ijara is an effective and practical financing tool allowing businesses to acquire ready properties such as; buildings, Towers, Lands, commercial complexes, etc.. through a lease, instead of outright purchase, thus reducing the heavy burden of capital expenditure. The leasing period normally ranges from 2-8 years, with the lessee having the right to purchase the leased asset at the end of the Ijara period.

To illustrate the above, we will purchase a property in Al Masraf name based on our SMEs, Commercial or Corporate customer’s promise to lease it from us. Once we buy the property, we will lease it to the customer. The lease rent is structured in a way that at the end of the lease period, our purchasing cost and profit is recovered and we transfer the ownership of the property to you for a nominal sale price or as a gift by a separate sale or gift contract at the end of the lease period.

Features and Benefits

  • Dedicated Relationship Manager to focus on your business needs
  • Qualified Assets: Residential, Office Buildings and Villa Complexes
  • Flexible Finance Tenure
  • Flexible Down Payment for the purchase price
  • Large finance amount that suits your business needs
  • Competitive profit rate and no hidden charges
  • Profit Rate: Variable rate throughout the financing period
  • Mode of Payment: Quarterly, Semi-annual or Annual terms are available
  • Reasonable and acceptable collateral requirements
  • Accepting different source of payments (Rentals of the building)
  • Low Processing fee for due diligence and documentation
  • Quick processing
  • 24/7 access to your account through Al Masraf Corporate Online Banking

Documentation

  • Copy of valid Trade License
  • Copy of Commercial Registry
  • Copy of Partnership agreement (in case of partnerships)
  • Copy of valid passport of partners (in case of partnerships)
  • Copy of valid passport of authorized personnel and copy of Articles of Association defining their powers
  • Copy of site plan
  • Copy of title deed
  • Last 2 year’s financials
  • Copy of lease contracts (covering purchase of existing rented property)

*Requirement may be lowered if additional security is provided.

At Al Masraf we understand that one of the greatest joys is to own or build your dream home. Al Masraf Islamic Banking Home Finance offers you a range of options to suit your specific needs. We offer financing for ready residential properties. We also offer refinancing options for customers who may already own a property or are availing of a mortgage with another institution.

Al Masraf Islamic Banking is proud to offer a range of shari’a compliant and cost-effective Ijara home products which suits your requirements.

Al Masraf Islamic Banking home finance products have been prepared based on simplifying our end to end process using Ijara Contract structure.

Ijara structure: Al Masraf purchase the property base on Customer’s request, and then lease it to customer on a rental payment for a specified leasing period. Through this deal the bank is the lessor and the customer is lessee. The Bank promises to transfer the title of the property to the customer at the end of the lease period if all payments have been made.

Our well trained Home Advisors would be happy to assist you over the phone or visit you at your convenience and take you through the steps towards owning your dream home.

Features and Benefits

  • Varieties of Ijara Home Finance offerings on Ready Properties
    • Owner to Owner : finance a ready property which previously owned by an individual
    • Purchase from a Developer directly: We’ve partnered with all the leading developers in UAE and offer their properties in a special arrangement
    • Refinance:
      Refinance can be extended only on completed properties against current market value of the property and it helps our customers to lighten their load with a better financing rate and more convenient tenures, giving you peace-of-mind to enjoy your home even more
  • Variable Rent installments: Profit Rates linked with EIBOR
  • Comprehensive Islamic Insurance for all property types
  • Financing of up to 80% of property value for everyone (for Salary Transfer customers)
  • Salary transfer is not mandatory
  • Financing available for self-employed applicants
  • Financing of up to AED 15 million for UAE Nationals & expatriates
  • Finance tenure up to 25 years
  • Easy documentation and quick processing

Eligibility

  • Employer should be Govt. /Semi-government Company, or approved private company with Al Masraf.
  • Minimum salary requirement is AED 20,000/-
  • Age 21 years and above

Documentation

Salaried

  • Application Form and Promise to Lease
  • Valid Passport & Visa copy
  • Salary certificate (Previous employment certificate if less than a year)
  • Bank statements – 6 months
  • Liability letter (if any)
  • Property documents – Sale Agreement
  • Proof of down payments

Self Employed

  • Application Form
  • Valid Passport & Visa copy
  • Trade License
  • Copy of Chamber of Commerce Registration
  • Memorandum & Articles of Association
  • Financial statements audited of last two years
  • Profile of the business on company letter head
  • Bank statements – Company & Personal for 6 months
  • Liability letter (if any)
  • Property documents – Sale Agreement
  • Proof of down payments
  • Letter indicating intent for use of property for rental or Investment purpose as per banks format

We provide corporate banking financing solutions through our innovative approach of Islamic Banking Sharia complaint products as the fact that our corporate clients are invariably the dominantly priority to us.

As a result, the bank is able to offer a comprehensive financial solution geared to meet the demands and complexities of the corporate finance sector for funding their Working Capital needs Our tailor made Working Capital finance package will allow our clients to Trade in Sharia Complaint Commodities through Al Masraf Murabaha Commodities; can now help you to meet your financial requirements by financing the commodities you want to buy from Shari’a compliant companies listed on the Dubai Multi Commodities Center DMCC.

With Al Masraf Working Capital Finance, you can buy and acquire a variety of sharia complaint commodities from us or get upfront cash price when you need it, at the most competitive profit rates available in the market.

Murabaha is a sales contract that fixes the price of certain goods or items required by a customer, including a pre-agreed profit margin. It works in a simple way. You identify what you want and choose the seller. Al Masraf fixes the deal along with a profit. You then settle with Al Masraf according to the settlement terms agreed.

The Murabaha financing varies according to the nature of the purchases and the working capital cycle of the customers – typically from 90 days and up to 4 years.

Features and Benefits

  • Dedicated Relationship Manager to focus on your business needs
  • Finance up to AED 10 Million
  • Flexible tenure from 6 months to 48 months
  • Reasonable and acceptable collateral requirements
  • Competitive financing profit rate and no hidden charges
  • Fast turnaround time
  • 24/7 access to your account through Al Masraf Corporate Online Banking

Documentation

  • Promise to Purchase
  • Offer and Acceptance Letter
  • Trade License copy
  • Audit Financials for the last 2 Years
  • Commercial Registration
  • Memorandum of Association
  • Passport copy of Sponsor
  • Passport copy of directors/shareholders with Visa pages of signing authorities
  • Emirates ID of Directors/Shareholders/Signatories
  • If the Memorandum of Association does not cover opening and managing powers, then a Board of Resolution is required to be provided authorizing such powers, duly attested by concerned authorities
  • Valid Passport with residence visa page for Expatriates/Emirates ID
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Murabaha’ literally means ‘selling on profit’. In this agreement, we help customers purchase land of their choice. Once you choose the land you wish to buy, a Murabaha agreement is drawn up. According to this agreement, you promise to buy the property from the Bank on a deferred payment basis. The Bank then buys the property directly from the seller and transfers the ownership of the land to you at a fixed amount or percentage of profit.

The Bank will obtain a security or a guarantee from you to ensure prompt and timely payment of the instalments due as per the Murabaha terms. It must be always kept in mind that from the time the goods are purchased till the time they are sold, the goods are in the name of the seller and he bears full risk as the owner during that period.

Features and Benefits

  • Dedicated Relationship Manager to focus on your business needs
  • Flexible Finance Tenure
  • Flexible Down Payment for the purchase price
  • Large finance amount that suits your business needs
  • Competitive profit rate and no hidden charges
  • Profit Rate: Fixed rate throughout the financing period
  • Mode of Payment: Quarterly, Semi-annual or Annual terms are available
  • Reasonable and acceptable collateral requirements
  • Accepting different source of payments (Rentals of the building)
  • Low Processing fee for due diligence and documentation
  • Quick processing
  • Source of Payment: Business Cash Flows, Rentals from other properties
  • Security: First Class Mortgage on the Land, Post Dated Cheques / DDAs
  • 24/7 access to your account through Al Masraf Corporate Online Banking

Documentation

  • Copy of valid Trade License
  • Copy of Commercial Registry
  • Copy of Partnership agreement (in case of partnerships)
  • Copy of valid passport of partners (in case of partnerships)
  • Copy of valid passport of authorized personnel and copy of Articles of Association defining their powers
  • Copy of site plan
  • Copy of title deed
  • Last 2 year’s financials

*Requirement may be lowered if additional security is provided.

Security Notice

  1. Please do not share your user ID and Passwords with anybody. Keep it totally Confidential
  2. Please Keep your Passwords Complex and change them regularly
  3. Please do not share your Debit/ATM card or Credit card password with anybody. Keep it totally Confidential
  4. Never respond to any Email or SMS asking for your User ID, Passwords, Credit / ATM Card information or any other information. If you receive any, report to us
  5. For using Al Masraf Online Banking, Ensure you type www.almasraf.ae and avoid following any links received via e-mail, SMS, etc.
  6. Ensure your personal, identification and contact details are up to date in our bank records
  7. Ensure to log off immediately once you have finished using your online banking.

إشعار امني

  1. يرجى عدم مشاركة معرف المستخدم وكلمات المرور مع أي شخص. ابقها سرية تماماً
  2. يرجى أن تختار كلمات مرور معقدة مع الحرص على تغييرها بانتظام
  3. يرجى عدم مشاركة كلمة المرور لبطاقة الايداع / بطاقة الصراف الآلي أو بطاقة الائتمان الخاصة بك مع أي شخص. ابقها سرية تماماً
  4. لا ترد أبدا على أي رسالة بريد إلكتروني أو رسالة قصيرة تطلب منك الإفصاح عن هوية المستخدم الخاص بك أو كلمات المرور أو معلومات بطاقة الائتمان/الصراف الآلي أو أي معلومات أخرى. إذا تلقيت أي من الرسائل المشار إليها أعلاه، يرجى منك أن تبلغنا بذلك
  5. لاستخدام خدمات " المصرف " عبر الإنترنت، تأكد www.almasraf.ae و تجنب اتباع أي روابط ترِدُك عبر البريد الإلكتروني أو الرسائل القصيرة أو غيرها
  6. تأكد من أن معلوماتك الشخصية والتعريفية وتفاصيل الاتصال بك المصرح بها في سجلاتنا المصرفية محدثة
  7. تأكد من تسجيل خروجك فورا بعد الانتهاء من استخدام الخدمات المصرفية عبر الإنترنت.

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