As a leading commercial and fully-fledged Islamic Bank, we are equipped to offer you both a practical and sustainable alternative to conventional banking. Our comprehensive array of financial products and services are Shariah-compliant, which upholds the ideal of profit-sharing, while prohibiting the payment or acceptance of interest, in any transaction. Our faith-based system of financial management, has demonstrated increasing appeal, to people of all faiths and tradition, within our Rainbow Nation.
We endeavour to create, nurture and sustain a long-term partnership with each of our valued clients, by ensuring that we provide you with individualised and meticulous service. Each transaction is viewed as a meaningful deal or exchange, and is understood as being mutually beneficial to both you and Al Baraka Bank. We strive to provide a positive social impact, through our commitment to various Corporate Social Investment initiatives in four principal sectors, Education, Empowerment, Poverty Alleviation and Healthcare.
We value a personal touch, which is why, even with our strides in technological and convenient modes of Banking, there will always be a friendly face or voice to assist you at Al Baraka Bank.
Flexibility in selection of cars (Locally Manufactured Vehicles)
Facility against brand new as well as used vehicle Facility Amount up to 70% of the
value of the vehicle (Maximum of Rs. 3,000,000 can be availed)
Facility tenure from 1 to 5 Years Co-borrower facility available Comprehensive Takaful
coverage from Reputed Insurance Companies Early settlement option
Required Documents
SALARIED
Copy of CNIC / NICOP / POC 2
recent passport size
photographs
Latest pay slip / salary
certificate from employer
Bank statement for the last 6
months
Duly filled loan application
form BUSINESSMAN AND SELF-EMPLOYED
PROFESSIONAL
Copy of CNIC / NICOP / POC
2 recent passport size
photographs
Bank statement for the last 6
months
Proof of profession or
business Proprietorship letter NTN certificate
Tax Returns of 2 years
PROFESSIONAL DEGREE
VALID MEMBERSHIP OF APPLICABLE PROFESSIONAL BODY (FOR
SEP ONLY)
Duly filled loan application
form Proprietors
Partnership Concerns or
Limited Company Copy of CNIC / NICOP / POC
2 recent passport size
photographs
Declaration of proprietorship
Certified Partnership Deed
Memorandum & Article of
Association
Form A & 29
Company Profile Bank
statement for the last 6 months
Tax Returns and Assessment
Order for the last 2 years
Copy of latest utility bill
Duly filed application form
Eligibility
South Africa Citizenship
Minimum Monthly Net Salary /
Monthly Income Requirement: PKR 80,000 Minimum
Age Requirement: 22 years*
Maximum Age (at loan maturity): 65 years (salaried) and 70 (Self-Employed)
Employment/Business Length:
Minimum 6 Months
Employment (Salaried)* / 1
Year Business (Self-Employed).*
Trailers
Buses
Tractors
Rollers
Cranes
Loaders
Graders
Forklifts
Dozers
Excavators
Boats
Caravans
