• Financing Rate: as per List of Bank charges 

• Tenure:

  • Maximum 20 years – For Immovable assets

  • Maximum 7 years – For movable assets

• Grace Period: Negotiable

1. Covering letter detailing the requirement for financing

2. Duly filled and signed Application Form

3. Board Resolution authorizing the request for financing and stating the authorized signatories.

4. Profile of the business and members of key management team.

5. Registration Certificate of the business entity Copy of Memorandum of Association and Articles of Association (copy of the partnership agreement if a partnership)

6. Company Profile sheet from Economic Ministry confirming company’s shareholders, directors and company secretary (not older than 10 days)

7. ID card copies of Directors / Shareholders (if shareholders are registered companies, all documents from 6 to 11 is required)

8. Net worth statements of all Directors

9. Financial Documents

   Last three years' Audited Financial Statements.

   Current year’s Management Accounts

   Ageing reports of Trade receivables, Trade Payables, and Inventory (as per management accounts)

10. Projected Financials

    Income Statement Projections with detailed notes (for 1 year)

    Monthly Cashflow Projections (should be prepared using direct method)

11. List of major customers and suppliers.

12. Bank statements of last 06 months (other banks)

13. MIRA Tax Clearance Report (not older than 10 days)

For Property

• Land and building registry Copy

• ID card copy of land owner

• If land owner is not an applicant and/or is above 60 years old, no objection letter from the land owner(s) to mortgage the property and to use rental income from the property to make payment towards the facility obtained.

• If the property is leased, lease agreement which is registered at a court/ notarized by a lawyer

• Approved Drawings of the property

• Construction Permit

For Vessel

• Registry of the vessel

• ID card copy of the owner(s)

• If owner(s) is not an applicant and/or is above 60 years old, no objection letter from the owner(s) to mortgage the asset

• If the vessel is leased, lease agreement

To transfer a loan to a Sharia complaint facility

• Sanction letter

• Loan Statement

Additional documents maybe required during the evaluation process

1. Duly Completed Application Form.

2. ID card Copies of applicants.

3. Employment Letter

4. Salary Slips of past 03 months

5. Other income verification documents ( Rental or business registration certificate, Articles and memorandum of Association business income details, GST details).

6. Other Banks A/c Statement of past 6 month.

7. MIRA Tax Clearance report of all applicants.

For Property

• Land and building registry Copy

• ID card copy of land owner

• If land owner is not an applicant and/or is above 60 years old, no objection letter from the land owner(s) to mortgage the property and to use rental income from the property to make payment towards the facility obtained.

• If the property is leased, lease agreement which is registered at a court/ notarized by a lawyer

• Approved Drawings of the property

• Construction Permit

For Vessel

• Registry of the vessel

• ID card copy of the owner(s)

• If owner(s) is not an applicant and/or is above 60 years old, no objection letter from the owner(s) to mortgage the asset

• If the vessel is leased, lease agreement

To transfer a loan to a Sharia complaint facility

• Sanction letter

• Loan Statement

Additional documents maybe required during the evaluation process