At Mashreq Al Islami your business can thrive financially with peace of mind, knowing that you are in accordance with Shari’ah guidelines.
Business Finance is based on Islamic principle of Tawarruq; where the Bank on the client's request buys a commodity from the market and sells it to the client, after adding profit, on deferred payment basis. The client then sells this commodity in the market (usually via the Bank) to get cash.
Mashreq SME Business Finance Features:
• Interest Rate: 19% - 26%
• Simple documentation and quick approval process
• Competitive interest rates
• A dedicated Relationship Manager to service all your business needs
• A Business Current Account with No Minimum Balance Requirement
• Free Business Credit Card with attractive cash back and benefits
• Choice of Islamic Business Facility
• Islamic Finance
• Salary Transfer is not required. The company has to maintain a zero balance business current account
• Minimum annual sales turnover of AED 1.5 Million
• Minimum age of business - 2 years
• Processing Fees - 1.35% of the loan amount
• Early settlement fees - 1% of the total remaining outstanding loan amount
• The minimum tenor is 6 months and can go up to a maximum of 48 months
• The minimum loan amount is AED 125,000/- and it can go up to AED 1.5 Million
• No collateral required
• Insurance/takaful 0.65% p.a.
• Agency fee of AED 750
• Documents Required:
• Application form
• Trade license copy
• Incorporation documents as applicable i.e. Power of attorney (POA), Memorandum of Association (MOA) or Article of Association in case of an LLC, Partnership agreement
• Last 12-months bank statement (Mashreq account not required)
• All partners valid passport with residence visa page for expatriates
• All documents are required to be valid at the time of evaluation
Avail 6 or 12 months 0% Installment
Enjoy a 0% Interest Payment Plan for up to 6 months on a minimum purchase of AED 1000 with...
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Bloom Aesthetic and Laser Clinic
10% discount on total bill.
If you are interested in any of our products and services and would like a member of our sales team to get in touch with you