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                           Car Murabaha from Banque Misr complies with Islamic Sharia

Stemming from its leading role in supporting the Egyptian economy and meeting its customers’ needs, Banque Misr, who was the first bank in Egypt to launch Islamic banking; recently launched the car Murabaha. The Murabaha program is an Islamic car finance program which was developed under the supervision of the Sharia Authority, an authority comprised of highly competent scholars from Al Azhar. The new Islamic car finance program is available in BM’s Islamic branches.

The Murabaha has numerous sub-programs, which meet the needs of all categories, with competitive investment rates and the highest finance rate of the Murabaha contract being up to 100% of the car’s value. Additionally, the bank offers an excellent package of payment schemes with the longest payment period being up to 7 years.

The bank has 33 Islamic branches which have been in operation since 1980 and are located in various areas across Egypt. All are connected through a unified IT network. The transactions and operations are supervised by the Sharia Authority. Banque Misr is always keen to meet the needs of its customers by offering a comprehensive package of products and value added services