Al Islami Personal Finance: You Plan. We’ll Pay!*

Dubai Islamic Bank introduces Al Islami Personal Finance scheme to meet with all your financial needs in a Sharia-compliant manner.

With Al Islami Personal Finance, you can buy and acquire a variety of goods and services from us, at the most competitive profit rates available in the market.

The product structure is based on Islamic financing principles of Ijarah (for services) and Murabaha (for goods), under which the bank will purchase the goods and acquire the services from vendors for onward sale to you on easy and affordable payment installments at most competitive prices.
*Bank will pay the service/goods provider

Services offered under Al Islami Personal Finance:

  • House Rent in Advance
  • Medical Treatment
  • Education and Training
  • Travel Services (Tickets and Travel Packages, Haj and Umrah)
  • Event Services (Marriages and other functions)
  • Hiring of Professional Service

Good Supported by Al Islami Personal Finance:

  • Furniture
  • Electronics
  • Boats
  • Personal Computers
  • Building Materials
  • Machinery
  • Mortgage Free Automobile
  • Equipment and Tools
  • Motorcycles & Jet skies

Al Islami Personal Finance is offered against:

Salary transferred to customer’s Dubai Islamic Bank account, post-dated cheques for the individuals whose salary is routed to another bank or having a Cash Salary and self employed professionals/businessmen

Eligibility to apply for Al Islami Personal Finance

  • Age: Min. 21 years
  • Salary: Min. AED 4,000 (for salaried individuals)
  • Income: Min. Average credit turnover of AED 15,000/month in account(for self employed professionals/ businessmen)
  • Length of service : None (for DIB Approved Company Salaried individuals upon submission of proper Salary Transfer Letter) *
  • Length of Business Min. 1 year

Documentation Requirement

1. Quotation for the required Services/Goods addressed to Dubai Islamic Bank

2. Copy of Passport (with Residence visa for expatriates)

3. Salary and the End of Service Benefit Transfer Letter/Certificate from the employer

4. Statement of Account for minimum 3 months if the salary is transferred to another bank (6 months for self employed professionals/ businessmen)

5. Copy of valid trade license (for self employed professionals/businessmen)

6. Security Cheque equivalent to total Murabaha amount.

7. For all Rent Ijarah Service, Proof of ownership of the premises financed or proof of right to manage premises.