Our fundamental belief is that Islamic law is suitable for all times - and we understand that our customers are looking for modern and up-to-date financing that is agreeable with Islamic law. The bank therefore offers a number of Islamic products and services for your finances. The bank is proud to be a leader in providing funding for the local stock exchange using murabaha. We at Bank Al-Jazira believe that our customers are key for continually improving our services for their benefit, and to enrich our vast experience in Islamic banking.

We offer a full range of products and services which satisfy our customers’ financing needs and requirements. These include:

Murabaha for Purchasing

This is the most commonly used service for funding the purchase of both local and overseas products in addition to the purchase of shares. It is based on the delayed purchase of goods, as allowed by Islamic law. This is done upon the intermediation of the bank as it purchases a commodity through deferred payments at the request of the client. Murabaha is based on a price equivalent to the total cost of the purchase, plus a fixed profit (markup) agreed upon by both the bank and the client.

Murabaha can be used in the following ways:

• Funding regional and international banking activities.
• Funding local purchases.
• Personal investments aimed at satisfying individual needs such as the purchase of goods and property.
• Purchase of shares through murabaha, whereby the bank purchases the shares then sells them to the customer through delayed payments. All of this happens in a relatively short period of time.
       

Al-Ijara

The bank owns high cost assets and assets that deal with rapidly changing technology. After purchasing these assets, the bank then rents them to the customer, giving him an option to either purchase them during the rent period, or after its completion. It is the most efficient and flexible way to utilize high cost assets and technology related products.

Al-Musharaka

The bank owns high cost assets and assets that deal with rapidly changing technology. After purchasing these assets, the bank then rents them to the customer, giving him an option to either purchase them during the rent period, or after its completion. It is the most efficient and flexible way to utilize high cost assets and technology related products.

Al-Mudaraba

A profit partnership agreement between the bank and the customer, whereby the bank provides complete funding, and the customer manages the business in return for a percentage of the profits - provided there are no losses. The basis of this is good management and a solid business plan.

Al-Istinaa

An agreement suited for construction projects, whereby the bank signs an agreement with the client for the construction of a site, building, or bridge, and then signs another agreement with the construction company responsible for the development plan. The bank has a total and direct responsibility to the client.

Al-Silm

An agreement whereby money is paid in advance and the goods are received later. It is considered an important agreement for funding the agricultural and industrial sectors.

Contract-based Funding:

Bank Al-Jazira developed a modern program called "Dinar", which is an alternative to lending and is compliant with Islamic law. The bank sells a product to the client through delayed payments. Afterwards, the client instructs the bank to sell the product in either the local or international markets at a fair price. The funds generated from the sale are then deposited in the client’s account. All of the above are executed in a short period of time and at low costs.