Solar System Financing
Name and purpose of the product:
To finance solar systems for homes and businesses under Shariah-compliant Murabaha agreements, for both new and repeat customers
Gender
Male and Female
Location
Rural and Urban
Purpose
To finance solar systems for homes and businesses under Shariah-compliant Murabaha agreements, for both new and repeat customers.
Target Businesses
All types of customers with RIGA (Regular-Income-Generating-Activities) and SIGA(Seasonal-Income-Generating-Activities)
Documents Required
A valid e-NID (Paper NID Exceptional), business license or municipality registration (where applicable), and relevant purchasing documents (bills or invoices).
Age
18-65
Members
Individual
Financing Currency
AFN
Financing Amount
5,000 to 500,000
Financing term
6 to 24 months
Profit Rate
The profit margin is 15% per year (1.25% per month) on a flat rate basis.
Collateral (Title Deed and Guarantor)
A financial guarantor (business-related), a family guarantor, and either a title deed or a gold deposit accepted as collateral (Rah’n), in accordance with Shariah principles or Gold deposit (Certified by licensed Jewelry) equal to the Value of Financing Requested.