Asset financing offered by Shabelle Bank will be based under the principles of “Diminishing Musharaka”.The Bank and the business jointly purchase the asset (i.e. property/machinery etc.).The bank subsequently leases its share to the customer. The business is also offered the opportunity to buy equity shares of the assets. Shabelle Bank will gradually reduce the holding until the title to the property is completely transferred to the business.
Financing upto 80% of the assets value via Musharaka.
Medium to long-term financing solution available for up to 60 months.
No collateral is required.
Repayable in equal monthly installments.
Dedicated relationship manager.
Low processing fee.
Access to online and SMS banking.
Quick approval process.
Legally registered company carrying out “Shari’ah” compliant core activities.
Evidence of good financial standing and healthy history of banking operations.
Agreement to lease the asset from Shabelle Bank.
Other requirements (as per financing requirements).