Murabaha is a sale where seller (Bank) expressly mentions the cost incurred on the commodities and sells it to another person (Customer) by adding some profit or mark-up thereon which is known to the buyer. Murabaha (cost plus profit) Apartment/House/Land and Building Financing is designed to enable those applicants who intend to buy apartment/house/land and building for their personal or commercial use.

Requirements

• Citizenship: The customer must be an Afghan citizen.
• Age criteria: Customers must be between 18 and 55 years old.
• No Objection Certificate (NOC): Customers need to provide an NOC confirming no outstanding debts with other banks or financial institutions.
• Employment history: Government and non-government employees must have a minimum service period of two years and a maximum of 30 years, while for business owners and shopkeepers, a minimum of three years in their current business is required.
• Licensing: Companies and entrepreneurs must possess a valid license to operate.
• Financial documentation: Companies and entrepreneurs are required to submit financial reports and bank statements for at least the last two years.
• Collateral requirements: The registered title deed (Sharaee Qabalah) of the property will be accepted as collateral by the bank and the Collateral must cover at least 120% of the financing value.
• Document submission: Customers must provide all necessary documents, including an official referral letter, ID card, NID (Tazkira), copy of the title deed, a recent photo, and any requested inquiry letters.

Features

• Financing period: The maximum financing period is five years, subject to committee approval.
• Minimum income: The client’s monthly net income must be at least AFN 50,000 or its equivalent in USD.
• Profit rate: The annual profit flat rate is 5%.
• Debt burden ratio: 
  o    for salaried persons: up to 40% of monthly salary.
  o    for companies and small to medium enterprises: 20% of total annual sales or 50% of annual profit will be considered.
• Property eligibility: The purchased property must have a register title deed or ownership deed (in case of an approved town or apartments).

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For further details, please visit our nearest office or contact BMA’s Customer Services by dialing 1312