This is a consumer product that enables customers to acquire household appliances ranging from refrigerator, freezer, furniture, cooker, laptop, TV, etc. with the flexibility of a monthly payment plan.
The financing is based on the concept of Murabaha (cost plus mark-up). The Bank purchases the appliances identified by the customer and sells same to the customer at cost plus profit. Payment is usually on monthly basis from the customer's salary for a period of up to 24 months.