Shabelle Bank will offer “Shari’ah” compliant term loans under the Islamic Musharakah principle. It is an agreement under which Shabelle Bank provides capital for the business to engage in profit-generating – “Shari’ah” compliant activities. The profit/lossesare distributed between the bank and the businessat predetermined ratios.Shabelle Bank will act as the sleeping partner and the customer will be the main working partner, of the partnership. A Bank representative will be observing the activities of the business.
“Shari’ah” compliant product
Up to 60 months (5 years) repayment period.
Financing in 3-7 business days.
Dedicated relationship manager.
Low late payment charges.
Low processing fee.
Access to online and SMS banking.
Competitive pricing rate and margin of financing
Legally registered company, carrying out “Shari’ah” compliant business activities.
Evidence of good financial standing and healthy history of banking operations.
Acceptable collateral/guarantor and other guarantees as per the bank’s requirement.
Other requirements (as per financing requirements).