Murabaha by Wakala 


Product Concept:


The product is a retail Islamic finance based on Murabaha concept, which is implemented by Wakala, to provide customers with the finances needed to cover their different needs ( building, construction, and renovation supplies, as well as any household or personal necessities that are not covered by retail Islamic banking products, and that's in  all cases  in which a price quotation cannot be obtained (For instance: Sanitary ware / Ceramics / Paints / Medical and therapeutic supplies / Club subscriptions / Car maintenance / Home renovation / Wedding parties / Insurance fees / and any other needs compliant with Islamic Shariah Law upon the customer's request).


Murabaha by Wakala is provided through the following financing programs:

  • Employees with an undertaking from the employer to transfer the salary/monthly installment.

  • Employees with an income proof.

  • Free Lancers and business owners with income proof.

  • Owners of (savings accounts - Time deposits - saving certificate) (Egyptians/foreigners).

General conditions for Murabaha by Wakala :

  • Competitive rate of return

  • Least administrative fees.

  • The minimum age is 21 years old and the maximum age is 65 years old at the date of maturity of the Murabaha (on the condition that the maturity date is not after the employee’s end-of-service date) - Not Reqired for deposit guarantee)

  • The maximum value of the Murabaha amounts up to 5 million EGP.

  • The maximum funding rate is 100% of the product/service price.

  • The maximum duration of the Murabaha is 96 months.

  • No guarantor required.

Required documents: 

  • Application form for Murabaha by Wakala 

  • Valid copy of National ID.

  • Statement of supplies/services/equipments to be covered by Wakala Murabaha.

  • Original utility bills (gas/electricity/water/telephone) from the past 3 months (not required for Deposit guarantee).

For employees:

  • Statement of monthly salary.

  • Undertaking from employer to transfer salary/monthly installment.

Free Lancers and business owners

  • Bank statement for  the last six Months

  • Copy of tax card

  • An official certificate from the Commercial Registry for commercial and industrial activities

  • License to practice the profession for self-employed persons


Additional benefits:

  • Compliance with the provisions of Islamic Shariah and under the supervision of a legitimate committee.

  • Government or private sector employees are not required to transfer salaries or installments (Employees with an income proof program).

  • Free insurance policy against death and disability risks throughout the Murabaha period.(for unsecured murabha)


*Terms and conditions apply