SBYB works to meet the needs and requirements of various companies and institutions for goods, merchandise, equipment, and other items available in the local or foreign market, according to Islamic financing formulas that meet their aspirations and achieve their ambitions, relying on the principles and provisions of Islamic Sharia.
Companies and various institutions can obtain financing services provided by SBYB, whether through Musawamah or financial leasing with ownership, in accordance with the principles and provisions of the Islamic Sharia. This enables them to develop and grow their various projects and expand their commercial activities.
Musawamah Financing Service:
It is a sales contract in which the final price of the commodity or asset is negotiated directly between the bank and the buyer (client), without the bank disclosing the original cost or profit margin. It depends on the agreement between the bank and the client.
Service Features:
- Financing is provided in the form of a Musawama.
- Compliant with the principles of the Islamic Sharia.
- Adequate repayment periods.
- Profits commensurate with the financing amount.
- Services can be obtained from any bank branch.
Documents and conditions required to obtain the service:
- Open a bank account at SBYB
- Proof of the original ID card or passport
- Submit a price quote containing the specifications and financing value
- Provide the agreed-upon guarantee
- Complete the financing application form
Lease-to-Own:
According to this formula, SBYB owns assets such as real estate, machinery, or other assets, and then leases them for a specified rent for a specified period, according to terms agreed upon by both parties. The bank promises the lessee that it will transfer the leased asset to the lessee and transfer ownership to the lessee at the end of the contract term as a gift, or sell it to the lessee for a nominal price, according to the terms of the contract.
Service Features:
- Own the asset at the end of the term without a large upfront payment.
- Flexible payment allows the asset cost to be spread over the financing period, reducing the financial burden compared to an outright purchase.
- Obtain an asset without a high initial cost.
- Preserves the capital for the lessee.
Documents and conditions required to obtain the service:
- Commercial register, articles of association, and bylaws for companies.
- Business licenses.
- Bank statements for the past one year.
- Credit history (clean credit history based on previous dealings, credit checks, or market reviews).
- Financial statements (balance sheets certified by a certified public accountant).
- ID card of the authorized person or persons.
