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EGBANK Islamic banking services is about banking activities that is consistent with the principles of Shari’a

Islamic Banking Finance

Auto Murabaha Finance

New Vehicles

Shari'a-Compliant

Key Benefits

  • Financing of up to 100% of the vehicle value, subject to the Bank's credit assessment
  • Murabaha amount of up to EGP 5,000,000
  • Flexible tenor ranging from 6 months up to 84 months
  • Dedicated programs for payroll, salary, or installment transfer customers
  • Tailored programs for self-employed and professional clients
  • Flexible down payment options ranging from 10% up to 60%

Eligibility Criteria

Minimum age: 21 years
Maximum age: 60 years, which may extend up to 65 years at maturity, subject to the Bank’s terms and conditions

Auto Murabaha Finance

Used-Vehicles

Shari'a-Compliant

Key Benefits

  • Financing of up to 80% of the vehicle value, subject to the Bank’s credit assessment
  • Murabaha amount of up to EGP 5,000,000
  • Flexible tenor ranging from 6 months up to 60 months
  • Dedicated programs for payroll, salary, or installment transfer customers
  • Tailored programs for self-employed and professional clients
  • Flexible down payment options ranging from 10% up to 60%

Eligibility Criteria

Minimum age: 21 years
Maximum age: 60 years, which may extend up to 65 years at maturity, subject to the Bank’s terms and conditions

This is a Shari’a-compliant product

All financing is subject to the Bank’s prevailing policies and applicable terms and conditions.

Ijarah Club Finance

Shari'a-compliant financing solution

Shari'a-Compliant
  • Financing amount of up to EGP 1,500,000, with a minimum down payment of 10% of the financing value
  • Flexible repayment tenor of up to 8 years (96 months), payable in equal monthly installments
  • Structured in accordance with Shari’a principles
  • All financing is subject to the Bank’s prevailing terms and conditions

Ijarah Education Tuition Finance

Shari'a-compliant financing solution

Shari'a-Compliant
  • Financing amount of up to EGP 1,500,000, with a minimum down payment of 10% of the financing value
  • Flexible repayment tenor of up to 8 years (96 months), payable in equal monthly installments
  • Structured in accordance with Shari’a principles
  • All financing is subject to the Bank’s prevailing terms and conditions

Ijarah Travel Finance (Hajj, Umrah & Travel)

Shari'a-compliant financing solution

Shari'a-Compliant
  • Financing amount of up to EGP 1,00,000, with a minimum down payment of 10% of the financing value
  • Flexible repayment tenor of up to 8 years (96 months), payable in equal monthly installments
  • Structured in accordance with Shari’a principles
  • All financing is subject to the Bank’s prevailing terms and conditions

Medical Care Finance

Shari'a-compliant financing solution

Shari'a-Compliant
  • Financing amount of up to EGP 1,500,000, with a minimum down payment of 10% of the financing value
  • Flexible repayment tenor of up to 8 years (96 months), payable in equal monthly installments
  • Structured in accordance with Shari’a principles
  • All financing is subject to the Bank’s prevailing terms and conditions

Home Finishing Finance

Shari'a-compliant financing solution

Shari'a-Compliant
  • Financing amount of up to EGP 1,500,000, with a minimum down payment of 10% of the financing value
  • Flexible repayment tenor of up to 8 years (96 months), payable in equal monthly installments
  • Structured in accordance with Shari’a principles
  • All financing is subject to the Bank’s prevailing terms and conditions

Car Maintenance Finance

Shari'a-compliant financing solution

Shari'a-Compliant
  • Financing amount of up to EGP 1,000,000, with a minimum down payment of 10% of the financing value
  • Flexible repayment tenor of up to 8 years (96 months), payable in equal monthly installments
  • Structured in accordance with Shari’a principles
  • All financing is subject to the Bank’s prevailing terms and conditions

General Documents

EGBANK provides Shari’a-compliant financing programs for individual clients, including salary transfer and self-employed customers, aged between 21 and 65 years at maturity. These programs are structured under Ijarah Al Khadamat to address clients’ financing needs through streamlined and efficient procedures.

Durable Goods Murabaha

Shari'a-compliant financing solution

Shari'a-Compliant

Eligible Financing Products

  • Murabaha financing designed to support personal needs through the purchase of durable goods
  • Murabaha amount of up to EGP 250,000
  • Flexible tenor ranging from 6 months up to 60 months
  • Dedicated programs for salaried customers
  • Down payment starting from 10% for salaried clients and 20% for self-employed and professional clients

Eligibility Criteria

Minimum age: 21 years
Maximum age: 60 years, which may extend up to 65 years at maturity, subject to the Bank's terms and conditions

This is a Shari'a-compliant product

All financing is subject to the Bank's prevailing policies and applicable terms and conditions.

Secured Islamic Finance

Secured Murabaha / Ijarah Financing Program Against Islamic Certificate (Diamond CD)

Shari'a-Compliant
EGBANK offers a Shari’a-compliant secured Murabaha / Ijarah financing program designed for clients holding an EGBANK Islamic Certificate (Diamond CD). This program enables eligible customers to obtain secured Islamic financing facilities linked to their existing certificate.

Eligible Financing Products

Auto Murabaha

New and Used vehicles

Goods Murabaha

appliances, furniture, electronics

Ijarah Al Khadamat

clubs, education, travel

Key Benefits

  • Financing of up to 90% of the value of the Islamic Certificate (Diamond CD)
  • Financing tenor aligned with the remaining tenor of the certificate
  • The Islamic Certificate must be issued by EGBANK
  • Competitive expected profit rates

This is a Shari’a-compliant product

All financing is subject to the Bank’s prevailing policies and applicable terms and conditions.

Islamic Banking Accounts and Deposits

Islamic Saving Account

Shari'a-Compliant
  • Structured in full compliance with the principles of Islamic Shari’a
  • Available to individual clients only, including minors, in accordance with the Bank’s policies
  • 24/7 access to accounts through EGBANK ATMs and the 123 ATM network locally and internationally
  • Variable profit rate calculated and distributed on a quarterly basis under the Shari’a concept of Mudarabah
Minimum Balance Requirement: EGP 5,000 or USD 500, or the equivalent in other foreign currencies for foreign currency accounts

Aman Sukuk

Shari'a-Compliant
  • Structured in full compliance with the principles of Islamic Shari’a
  • Certificate tenor of 3 years
  • Available to individual clients only, including minors, in accordance with the Bank’s policies
  • Early redemption is not permitted before 6 months from the issuance date
  • Profit calculation starts from the next client day following the client request
  • Variable profit rate calculated based on the actual results of business activities under the Shari’a concept of Mudarabah, payable on a monthly or quarterly basis
Minimum subscription amount of EGP 1,000 and its multiples
3 Years From 7 months up to 1 year EGP 5%
3 Years 2nd Year EGP 4%
3 Years 3rd Year EGP 3%

Islamic Diamond Certificate in EGP

Shari'a-Compliant
  • Available to individual clients only, including minors, in accordance with the Bank’s policies
  • Competitive expected profit rates of up to 17%, subject to prevailing conditions
  • Certificate tenor of 3 years
  • Profit distribution on a monthly basis
  • Profit amounts may be withdrawn through ATMs 24/7
  • Minimum subscription amount of EGP 10,000
  • Eligibility to obtain Shari’a-compliant financing facilities secured against the certificate of up to 90% of its value
  • Early redemption is not permitted before 6 months from the issuance date
  • Structured in full compliance with the principles of Islamic Shari’a
  • All certificates are subject to the Bank’s prevailing terms and conditions
Redemption Period From the seventh month and up to one year Deducted Percentage 7%
Redemption Period During the second year Deducted Percentage 6%
Redemption Period During the third year Deducted Percentage 5%

Current Accounts

Shari'a-Compliant
  • Structured in full compliance with the principles of Islamic Shari’a
  • Available to individual clients, including minors, and companies in accordance with the Bank’s policies
  • Non-profit-bearing current account
  • 24/7 access to accounts through EGBANK ATMs and the 123 ATM network locally and internationally
  • Chequebook issuance available, subject to the Bank’s applicable terms and conditions
Minimum balance requirement: EGP 5,000 for EGP accounts, and USD 200 or its equivalent for foreign currency accounts

All accounts are subject to the Bank’s prevailing policies and applicable terms and conditions.

Investment Accounts

Shari'a-Compliant
  • Structured in full compliance with the principles of Islamic Shari’a
  • Available to individual clients, including minors, and companies in accordance with the Bank’s policies
  • 24/7 access to accounts through EGBANK ATMs and the 123 ATM network locally and internationally
  • Chequebook issuance available, subject to the Bank’s applicable terms and conditions
  • Variable profit rate calculated and distributed on a quarterly basis under the Shari’a concept of Mudarabah
Minimum balance requirement: EGP 5,000 for EGP accounts, and USD 200 or its equivalent for foreign currency accounts

All accounts are subject to the Bank’s prevailing policies and applicable terms and conditions.

ESTITHMAR – Tiers – Account

Shari'a-Compliant
  • Structured in full compliance with the principles of Islamic Shari’a
  • Available to individual clients, including minors, and companies in accordance with the Bank’s policies
  • 24/7 access to accounts through EGBANK ATMs and the 123 ATM network locally and internationally
  • Chequebook issuance available, subject to the Bank’s applicable terms and conditions
  • The profit is variable and calculated based on the actual results of business under the Islamic term of (Mudarabah)
  • Profit calculated on the daily closing balance and distributed on a monthly basis
Minimum balance requirement to calculate profit : EGP 50,000

Sukuk Time Deposits

Shari'a-Compliant
  • Structured in full compliance with the principles of Islamic Shari’a
  • Flexible tenors of 1, 3, 6, 9, or 12 months
  • Available to individual clients, including minors, and companies in accordance with the Bank’s policies
  • Profit calculation starts from the first working day of the calendar month following the deposit date
  • Variable profit rate calculated based on the actual results of business activities under the Shari’a concept of Mudarabah
Minimum deposit amount: EGP 5,000 for EGP-denominated deposits, and 500 in other foreign companies

In case of partial or full early redemption, 2% of the last distributed profit rate will be deducted in accordance with the Bank’s policies.

Shari’a Supervisory Committee

The Fatwa and Shari’a Supervisory Committee is an independent committee within Egyptian Gulf Bank, comprising qualified Shari’a scholars and specialists in Islamic financial and banking transactions. The Committee’s mandate is to direct, oversee, and supervise Islamic banking activities and products to ensure full compliance with the principles of Islamic Shari’a.

Committee Members

Dr. Abbas Shouman

Head of the Shari’a Committee

Former Undersecretary of Al-Azhar and Member of the Council of Senior Scholars

Dr. Mohamed Nabil Ghanayem

Member

Professor of Islamic Shari'a, Faculty of Dar Al Uloom, Cairo University

Dr. Ahmed Fahmy Abou Al Komsan

Member

Professor of Finance and Investment and Dean of Mahalla Higher Institute of Administration

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