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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Al-Nahrain Bank starts reducing car purchase Murabaha to 4% with a repayment period of 6 years

    Rocky
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    • Post n°1

    Al-Nahrain Bank starts reducing car purchase Murabaha to 4% with a repayment period of 6 years Empty Al-Nahrain Bank starts reducing car purchase Murabaha to 4% with a repayment period of 6 years

    Post by Rocky Wed 28 Jul 2021, 6:45 am

    Al-Nahrain Bank starts reducing car purchase Murabaha to 4% with a repayment period of 6 years

    •  Time: 07/28/2021 09:07:22
       
    •  Reading: 247 times

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    {Economy: Al Furat News} The Islamic Bank of Al-Nahrain, affiliated to the Ministry of Finance, has started reducing the car purchase profit to 4%, with a repayment period of six years.
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    The bank also announced, according to a statement, which {Al-Furat News} received a copy of, that "the bank announced its intention to open branches in all governorates according to its plan for the next five years. On a monthly basis, the meeting does not take place unless a decision is taken to simplify the procedures, increase the payment period, or reduce the rate of Murabaha in order to alleviate the burdens of (customers) and to facilitate and simplify the procedures for granting Islamic Murabaha financing of all kinds and to increase the number of beneficiaries.”
    He added, "Among the recent decisions that the bank has begun work on is reducing the car purchase Murabaha to 4% annually and for a period of 6 years, after it was 5%," stressing that "the decision stipulated that the applicant's age should not be less than 18 years and not more than 60 years, and the loan is due. Payment is made after (30) days of delivering the vehicle to the customer.
    Samir stressed that "the main policy of the bank lies in overcoming obstacles for customers and providing the best services, and among the decisions taken that demonstrate this policy are related to real estate murabaha for the purchase of the house. In 2021, the rate of murabaha is 3%, with a period of 20 years to pay the citizens their salaries, which led to a significant increase in the number of transactions wishing to obtain this Murabaha.
    Revealed bank manager that "most of Almtlkian customers and find suffering in making payments due Bzmthm are the beneficiaries for the years 2016 and 2017, and the reason lies in the instructions that were in those years, but after the bank's technical and administrative processors become the proportion of repayment. New funds exceed 90," % stressing that "the bank, within its five-year plan, intends to establish a branch in each governorate, especially since all approvals have been obtained and a committee has been formed to search for a property in each governorate, in addition to allocating a human cadre in coordination with other banks."
    And Samir stated that "Al-Nahrain Islamic Bank is one of the newly established banks, as it started work at the end of 2015 and its beginnings were a losing bank, but since 2017 until now, it has turned into a pandemic as a result of the pandemic's efforts in 2020." It affected the banking business in general, but it was profitable, and that the current year, according to the plan, is expected to exceed its profits in 2020, despite the fact that the percentage of Murabaha that he receives is the lowest for other banks, as he works to encourage customers to increase the volume of deposits.
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