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Nahrain Bank issues new amendments on the car loan
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State-owned Islamic Bank of Nahrain announced on Monday that it has issued new amendments to the car loan.
The bank said in a statement that "new amendments have been issued to controls the financing of car Murabaha," noting that "the amendments included some paragraphs, including the financing period of six years instead of five years, as well as the maximum funding of 40 million dinars instead of 30 million dinars."
The bank added that the amendments also included making the rate of Murabaha 5% from 6%.
He added that "the amendments included the obligation of funding applicant to provide one or more sponsors equal to or increase his net monthly salary or the total net salary twice the monthly installment of the car."
[You must be registered and logged in to see this link.]
State-owned Islamic Bank of Nahrain announced on Monday that it has issued new amendments to the car loan.
The bank said in a statement that "new amendments have been issued to controls the financing of car Murabaha," noting that "the amendments included some paragraphs, including the financing period of six years instead of five years, as well as the maximum funding of 40 million dinars instead of 30 million dinars."
The bank added that the amendments also included making the rate of Murabaha 5% from 6%.
He added that "the amendments included the obligation of funding applicant to provide one or more sponsors equal to or increase his net monthly salary or the total net salary twice the monthly installment of the car."
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