Islamic International Arab Bank PLC House Loan - Building Materials Murabaha

Minimum Salary needed Not mentioned
Maximum amount available JOD 100,000
Length of Loan 10 Year
Profit Rate Not mentioned
Upfront Fees ( if any ) Not mentioned
Eligibility Public sector employees and Companies accredited by the Bank, self-employed; Finance up to 80%
Main Features Finance up to 100%2015-02-10

Islamic International Arab Bank PLC Amman

The banking and financial land scape in Jordan is incomplete without the input of the Islamic International Arab Bank. The Arab Bank fulfils its banking duties while complying with the values of Shariah law .

The bank was set up 85 years ago and it has grown to more than 600 branches the world over. It operates in 30 countries and five continents respectively.

The Arab bank is a prime economic catalyst in Jordan and all over the Middle East and Northern Africa. It offers banking services and capital while facilitating economic growth and commerce in these regions. IIAB   is the highest-ranked bank on the Amman Stock Exchange.

Amman

Amman, just like other Middle East cities, enjoys a rich historical heritage. The royal city is the kingdom’s throne and main city. It is also Jordan’s largest and most populated city with a swelling metropolitan population that exceeds four million residents. Amman is also the chief cultural and economic base of Jordan.

Of late, Amman is fast cementing its regional strength as a modern commercial hub in the region. With the ongoing growth boom in its real estate and commerce, the city is entering its commercial heyday and it ranks among the few regional cities that are rivaling Dubai as a preferred commercial destination.

House Loan - Building Materials Murabaha

This loan facility is one of Arab Bank’s key note home construction financing offers.

It is a Murabaha-patterned facility with the following core features:
    Financing amounts  of between  JD 5,000 - JD 700,000;

  •     Financing periods between  1-30 years;
  •     Easy and considerate repayment installments;
  •     Financing of up to 100% of the house’s  cost;
  •     Life and property insurance covers; and
  •     Wider range of credit card options.

Requirements:

 A national ID card;

  •     A  valid resident visa for aliens;
  •     Latest utility bill bearing  the customer’s name  such as  rental contract;
  •     Most recent  salary or revenue or employment verification papers;
  •     Property purchase and sales contract; and
  •     Ownership certificate of the financed property.