Construction Financing

 This product is tailored for individuals and companies in need of building materials to complete single or multiple dwelling units for resale or rental.

 Features

 Islamic mode of financing – Diminishing Musharaka- sale and lease back or Murabaha for local or imported materials

 Requirements

• 1. Completed Credit SME Application Form

• 2. Business Registration Certificate

• 3. Certified /Original Bank Statements for the last 2 years

• 4. Copy of ID/Passport

• 5. Certificate of official title search(with minimum lease of 45years)

• 6. Copy of Title of the property

• 7. Confirmation that Ground and  Land rates are fully paid to the City Council, with attached receipts

• 8. Approved Building plans (for new properties)

• 9. NEMA Certification

• 10. Notification by approval of Local authority with Minute number

• 11. Certificate of compliance from the District Physical Planning Officer

• 12. Profile of the Contractor, the Architect, and other professionals

• 13. Project Schedule