Financing the existing and new SME’s (small and medium enterprises), according to the signed Musharaka agreement between AL Baraka Bank – Egypt & the Social fund For Development (SFD).
The bank provides facilities for small & medium projects as per the Islamic Musharaka agreement amounted EGP (200) m signed by the bank & SFD, these facilities are provided for the existing /new projects (sole proprietorship & corporations) with terms that include:
- Paid in capital shouldn’t exceed EGP (1) m.
- The no. of employees shouldn’t exceed (50) employee.
- Maximum facility limit is EGP (5) m.
- Working capital facility tenor up to 24 months.
- Machinery & equipment facility tenor up to 48 months.
- The facilities executed in accordance with Islamic Murabaha form which is certified by our Shari ‘a Board.
- Applicable profit margin is to 10.5% per annum.
- Provide collaterals (i.e. Insurance policy against nonpayment risks)/ other payment resources determined by the bank according to the bank detailed study and market circumstances.