Yosr Murabha personal finance targets a wide range of customers who can use it for their personal needs. The financing amount varies between LE10,000 and LE200,000, and the length of repayment can be from 12 months up until five years (60 months), split into equal installments.
The Egypt-based bank is also launching for the first time in Egypt a one-year ‘Suk,’ available to both individuals and companies. Beneficiaries of the Sukuk’s will benefit from competitive profit rate, which are expected to vary between 7% and 7.25%, can either receive a monthly payment, or wait until the end of the Suk’s term to collect the amount in full.
Nevine Loutfy, managing director and CEO of NBD, said: “Launching these unique new products in the Egyptian market is a fulfillment of the promises we made over the last few months during our successful restructuring phase.
“The launch of these shari’a-compliant products is a step towards creating an even greater number of distinguished products and services, following up on the products that we have already launched such as Auto Murabha, which became one of the leaders in the Egyptian market in a very short space of time thanks to its meeting the needs of a large segment of the population and its compliance with shari’a regulations.”
