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Car Murabaha

Introduction:

Vehicles Murabaha should be in local currency and followed that the client has a current account with one of the branches for paying the due installment through this account.

Product definition:

  • Murabaha term up to 36 months and could reach 60-month
  • Customer shall pay 40% of the car value in advance according to the central bank of Sudan instructions, and the remaining will be as installments on monthly basis in equal to the end of Murabaha period.
  • Allows for individual and corporate clients.
  • Free account opening fee, free statement fee, and the ATM card free of charge for individual.
  • Profit rates is calculated as follows:
    • Transfer of the salary rate will be 7.68% based on the financed amount.
    • Without diverting the salary it will be 8.86% based on the financed amount.