Murabaha Vehicle ( Coming Soon )

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The customer makes a request to the bank asking for a certain car with a certain description specified by the customer, the Bank then buys this car, and after it owns and possessed it, it sells it to the customer based on the cost with a certain profit and the customer pays its cost either immediately, or later on agreed  installments.

Benefits

  • Funding is compatible with the provisions and principles of the Islamic Shariah and approved by the Shariah supervisory Board at  Nuran Bank.
  • Convenient payment installments .
  • Repayment period up to 72 months (6 years)-(5 years)-or (4 years) .
  • Quick approval and documentation.
  • Financing up to 50,000 L.D ?
  • Competitive profit margin .
  • Buy any new car of your choice (from any car dealer certified) .
  • Fixed profit rate during the period of installments.
  • The customer aware of the profit margin and premium at the time of signing the contract .
  • Murabha financing for cars is easy, convenient and flexible .
  • Funding and reimbursement is based on the customer's monthly income .

 

Eligibility:

  • The customer must at least be 18 years old.
  • Libya citizen or foreigner with a residence visa .
  • Must have a current account with the Bank of  Nuran .

Documents required of Murabha Financing for cars :

  • A valid identity card (identity card or passport) for both client and guarantor .
  • Letter from the employer of the customer and guarantor affirms not to transfer salary to any other Bank .
  • Letter confirm not obtaining financing / loan from any another bank (for new customers) .
  • Salary certificate of the customer and guarantor.
  • For non-Libyans: valid passport with valid residence visa .
  • Customer authorization allows the Bank to deduct payments in case the installment was more than 35% of the net salary.