Murabaha to finance micro enterprises

from EGP 1,000 up to EGP 50,000

 

The product idea

It is a Murabaha in installments program to finance micro enterprises that conduct commercial, industrial or service activities. These projects' annual revenues should not exceed EGP 1m (for existing projects) or EGP 50,000 (for newly established enterprises). The projects are financed either through Murabaha to buy something or Murabaha per procuration, where the customer signs a contract to finance the purchase of goods with an agreed profit margin. The total sum (the value of purchased goods + profit margin of the bank) will be repaid in installments.

 

General conditions for granting Murabaha:

  • The minimum age is 21 and the maximum age is 65 at the end date of Murabaha.
  • The project should be existent for at least a year.
  • The activity of the customer's project should be conducted within the city, village or district of the Islamic banking branch.
  • The activity should not be religiously prohibited or forbidden from financing according to the nature of the product (agricultural / animal / poultry / fish / transportation).

Murabaha to finance micro enterprises to be allocated through two major types:

Second Product

First Product

 

The target group for this product is the owners of micro enterprises that conduct commercial, industrial or service activities. This category needs the following documents (commercial record, license to practice the activity, tax card and social insurance)

 

The target group for this product is the owners of micro enterprises that conduct commercial, industrial or service activities. This category fall under the young practitioners (with no commercial record or a license to practice the activity or tax card or social insurance)

Targeted categories

More than
EGP 25,000 to EGP 50,000

From
EGP 1,000 to EGP 25,000

The cost value of Murabaha

To 30,000From 25,000First segment
To 40,000From 30,000Second segment
To 50,000From 40,000Third segment

 

Customers who have a credit history with Banque Misr or other banks within previous six months can be granted Murabaha starting from the second segment in accordance with I-SCORE standards.

To 7,500From 1,000First segment
To 15,000From 7,500Second segment
To 25,000From 15,000Third segment

 

Customers who have a credit history with Banque Misr or other banks within previous six months can be granted Murabaha starting from the second segment in accordance with I-SCORE standards.

The segments of Murabaha and its gradual value

From six months to 24 months

From four months to 18 months

The period of Murabaha

 

The products are granted at 18 Islamic banking branches (regional branches)

No.

Branch

Governorate

No.

Branch

Governorate

1

Talaat Harb El-Mahla

Gharbia

10

Manzla

Dakahlya

2

Zagazig

Sharqia

11

Minya

Minya

3

Tanta

Gharbia

12

Abu Hassan El-Shazly

Aswan

4

Damnhour

Bihera

13

Beni Suef

Beni Suef

5

Ibn Fared – Shebin Koum

Minufia

14

Fayoum

Fayoum

6

Desouq

Kafr El-Sheikh

15

Luxor

Qena

7

Mansoura

Daqhlia

16

Sohag

Sohag

8

Zefty

Gharbia

17

Malawi

Minya

9

Menouf

Minufia

18

Tahta

Sohag

 

Basic required documents:

  • An application for Murabaha of micro enterprises.
  • A photo copy of valid national ID (for both the customer and the guarantor).
  • A photo copy of a document assuring residence place (the lease or ownership contract).
  • New utility receipt (gas / electricity / water / phone) of the residence place.
  • The following documents which are required only in the case of the second product of Murabaha:
  • Modern commercial register extract.
  • A photo copy of the tax card.
  • A photo copy of the last receipt of the social insurance.

 

Additional Features:

  1. The process is conducted in accordance with the provisions of Islamic Sharia law and under the supervision of a legitimate religious authority.
  2. The possibility of financing street vendors.
  3. The possibility of financing projects, which are run in houses.
  4. The possibility of financing projects managed by ladies.
  5. The possibility of projects managed through the stalls owned by the city council.
  6. No insurance is required for this finance.

 

*Terms and conditions apply