Whether you’re looking to buy a new or used car, we’re here to help. We offer Vehicle financing with great rates.
Drive the car of your dreams without the stress with our financing!
Owning a car, be it first hand or a used one, is mostly treated as a milestone in one’s life. Other than the practical usage, this is probably a sort of symbol of independence and a financial gratification. The aspiration to own a car in Afghanistan is only rising by the day. It is a not uncommon to see a car being purchased when we have some extra money available to us and Furniture and house appliances are among the most demanded goods for financing. We at FMFB-A are always honored to help clients buying their needs of ready or manufactured furniture and kitchens, in addition to electrical and electronic devices.
The Product is designed as a Shariah compliant Vehicle financing based on the Islamic financial principle of Murabaha, the Vehicle financing Scheme is widely used in Islamic finance. Under this product, the Bank purchases a Shariah compliant asset(s) Vehicles and Motorcycles from a third-party supplier (for the Cost Price) and subsequently sells it to its Customer on Murabaha basis.
Features and Benefits
- 100 percent Shari’ah-compliant financing
- Availability of multiple currencies (AFN, USD)
- Attractive profit rate
- From 6 months to 3 years of financing
- Financing limit from AFN 500,000 to AFN 1,000,000 or equivalent in USD
- The fully transparent transaction with no additional charges
- No hidden costs
- Original title deed of property (sharayee qabala) with Registering mortgage (Bia Ijazi) + Government Guarantor/Stock, Registered/ Hypothecation charge on entire present & future current assets of the business. Personal/Financial guarantees.
- Collateral security coverage ratio: The property coverage value/after haircut should be at least 120% of the finance amount
- Financial guarantor/s who has a business with repayment capacity for approved loan and non-family member.
How to Apply
For more information please call our Customer Service Centre by dialing 599 or visiting any of our branches.