Murabaha General Asset Financing

Under Murabaha General Asset Financing we provide extensive Shariah compliant financing solution for your personal needs such as acquiring movable assets locally.

Murabaha is a cost-plus sale contract, and is also known as mark-up sale. The cost will be made known to you. The sale can be made either in cash or credit or on instalment basis. Through this concept, we will purchase the asset and sell it to you with an option to pay the sales price in instalments over a specified period of time. The Bank's profit is the mark-up added to the cost incurred in purchasing the asset for you.

Eligibility Requirement

  • Customer must be at least 18 year of age

  • Customer must provide evidence on equity contribution made (minimum 30% of the project cost)

  • Customer's total commitment with all financial institution including the requested financing should not exceed more than 50% of his/her confirmed gross income.

How to apply for financing

Obtain application form from the Financing Department of MIB or download from the website. Complete the application form and submit along with the required documents mentioned below.

Documents Required

  • Completely filled application form along with co-applicant's form if required

  • Quotation from the supplier(seller)

  • Copy of valid ID card of the applicant

  • Copy of Registration certificate of the business

  • Copy of memorandum of articles of the company/ Copy of the partnership agreement if a partnership

  • Forecasted Cash flow statement for 3 years (including monthly cash flow for 1 year.)

  • Income and expenditure statement

  • Collateral

    • Registration/Title document of the collateral(copy, original required if approved)

    • No objections from owner(s) of collateral to be mortgaged from the facility