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First
Product
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Second
Product
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POS
Merchants - QR Code
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Product Name
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First product – d/ micro loans first product/Mashrou’ak
1 – d/Mashrou’ak1/Bedaity2 d/Bedaity 2 Mashrou’ak – d/Bedaity 2
Mashrou’ak/Bedaity 3 – d/Bedaity 3/Bedaity 3 Mashrou’ak – d/Bedaity 3
Mashrou’ak/initiative – d/initiative/initiative Mashrou’ak – d/initiative
Mashrou’ak
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Second product -
d/micro loans Second product / Mashrou'ak 2-d/Mashrou'ak 2/Tamkeen /
Tamkeen –d
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POS – QR Codes
merchants first category D / POS – QR Codes merchants second category D / POS
– QR Codes merchants first category D / POS – QR Codes merchants second category
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Product Charges
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(1%) of the loan value issued, by deduction from
the value of the loan that is automatically granted to the customer
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Loan Value
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Value of loan granted: from EGP
5,000 to less than EGP 50,000
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Value of loan granted: from EGP 50,000
to less than EGP 250,000
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Loan value is determined as follows: 50% of
the value of annual cash flows from POS + QR Code for our Bank customers at a
maximum of EGP 100,000; 35% of the value of annual cash flows from POS + QR
Code for other bank customers at a maximum of EGP 100,000
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Product Benefits
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The loan may be renewed immediately upon
repaying the current loan (full payment of debt); or on any date subsequent
to the loan due date, with due regard to loan brackets, provided that the
project is re-assessed by the committee upon document renewal
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The loan may be renewed immediately upon
repaying the current loan (full payment of debt); or on any date subsequent
to the loan due date, with due regard to loan brackets, provided that the
project is re-assessed by the committee upon document renewal
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The loan may be renewed immediately upon
repaying the current loan (full payment of debt); or on any date subsequent
to the loan due date, with due regard to loan brackets, provided that the
project is re-assessed by the committee upon document renewal
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Accelerated payment is
permitted, provided that the Bank receives a 3% commission on the remaining
balance of the original loan. The loan is not renewed unless after a period
of 6 months from the tenor of the agreed loan.
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Accelerated payment is permitted,
provided that the Bank receives a 3% commission on the remaining balance of
the original loan. The loan is not renewed unless after a period of 6 months
from the tenor of the agreed loan.
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Disbursement mechanism: cash
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For amounts up to EGP 100,000 disbursement is
made in cash; for amounts exceeding EGP 100,000: cash disbursement shall not
exceed 50%, provided that the remaining sum is disbursed via banking cheques
provided to suppliers associated with the activity and individuals subject to
desk inquiries, via the form designated for that purpose
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Disbursement mechanism: cash
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Additional Product Information
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Installments due date: On the same day as
loan disbursement effective the subsequent month, without a grace period.
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Delay returns: 4%
added to the applicable rate of return, to be calculated on the due monthly
installments, while granting the customer a 3-day grace period from the date
on which the installment is due, without charging a penalty.
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Required Documents
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One year of practicing
the activity
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Copy of the lease contract, ownership deed
or fixed-term lease contract documented at the land registry.
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Copy of the lease contract, ownership deed
or fixed-term lease contract documented at the land registry.
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Copy of the lease contract, ownership deed
or fixed-term lease contract documented at the land registry.
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Recent public
utilities receipt (water, gas, telephone bill) in the name of the borrower or
owner that has been issued no more than 3 months ago.
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Recent public
utilities receipt (water, gas, telephone bill) in the name of the borrower or
owner that has been issued no more than 3 months ago.
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Recent public
utilities receipt (water, gas, telephone bill) in the name of the borrower or
owner that has been issued no more than 3 months ago.
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Copy of the valid
national ID of the borrower and guarantor
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Copy of the valid
national ID of the borrower and guarantor
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Copy of the valid
national ID of the borrower and guarantor
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Copy of recent tax
card verifying that there are no outstanding payable taxes
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Copy of recent tax
card verifying that there are no outstanding payable taxes
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Recent transcript from the commercial
registry issued no more than 3 months ago
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Recent transcript from the commercial
registry issued no more than 3 months ago
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Copy of the latest
insurance payment receipt
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Copy of the latest
insurance payment receipt
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Recent certificate of
trade judgements (objecting by non-payment and bankruptcy) for the last 5
years
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Recent certificate of
trade judgements (objecting by non-payment and bankruptcy) for the last 5
years
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Approved income and
balance statement for amounts exceeding EGP 100,000
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Approved income and
balance statement for amounts exceeding EGP 100,000
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Authorization by
customer for deducting 1% issuance charges from the loan amount
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Authorization by
customer for deducting 1% issuance charges from the loan amount
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Authorization by
customer for deducting charges of issuing risk insurance document from the
loan amount
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Authorization by
customer for deducting charges of issuing risk insurance document from the
loan amount
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Authorization by
customer for deducting charges of issuing risk payment document from the loan
amount, for loans exceeding EGP 100,000
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Authorization by
customer for deducting charges of issuing risk payment document from the loan
amount, for loans exceeding EGP 100,000
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Certificate approved
by the bank with which the merchant transacts, indicating total POS or QR
Code transactions in one year; as well as total commissions collected from
the merchant in the same year; provided that bank signatures are validated by
our Bank.
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Submitting the account statement associated
with the POS, whether from our Bank within 6 months or approved by the bank
transacted with during the past year, indicating the volume of cash flows of
online sales.
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