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REQUIREMENTS

Documentation

  1. Original Passport and valid emirates ID.
  2. Original Labour Card.
  3. Original Kulasat Qaid (For UAE Nationals).
    (we will take copies of the above).
  4. Financing application form duly filled up.
  5. Vehicle Quotation/ Invoice.
  6. Latest 3 months personal bank statements.
  7. Processing / Arrangement fees.
  8. Liability Letter if applicable.
  9. Post dated cheques from Salary Account / Personal Bank Account.
  10. Undated cheque for total Murabaha amount.

Additionally for Salaried applicants
Salary certificate (UAE Nationals & Residents) stating position, length of service, basic salary and other allowances.

Additionally for Self-employed applicants / Companies

  1. Trade License.
  2. Chamber of Commerce Registration.
  3. Company Bank statement for the past 3 months.
  4. Copy of Bank Facility Letter/s (if applicable, i.e. if enjoying any credit facilities from other banks).

Process

  1. Application Form to be filled.
  2. Acceptance of aafaq's Letter of Intent (LOI). subject to aafaq approval).
  3. Complete Documentation.

 

to apply, please   

 

* Approval subject to aafaq terms & conditions.

aafaq reserves the right to change any of the terms and conditions at its sole discretion.

MEDICAL EQUIPMENT FINANCE

Medical Equipment Finance

Finance Program for Medical Equipment provided by aafaq Islamic Finance Company

Good health is your priority

Proper funding is our priority

 
aafaq Islamic Finance Company is proud to provide a program, consistent with the provisions of Islamic Shari'a, to finance the purchase of medical equipment and fixtures, reflecting the importance of the role of the medical sector in serving the community of the United Arab Emirates. 
 
The program is intended to finance medical fixtures and equipment and is designed specifically to finance hospitals, medical centers and specialist physician’s clinics.
 
Application Conditions for Finance:
This program is provided to: hospitals, clinics and specialized medical centers operating within the United Arab Emirates.
Application Age: 25 - 60 years
Amount of Finance: Up to AED 5,000,000
Tenure: Up to 4 years
Required Documents
  • Financial Statements for the last three years.
  • A separate Banking Statement of Account for the last 6 months.
  • A copy of the valid / original commercial license.
  • A copy of the purchase offer of the medical equipment – if any.
  • A copy of the lease contract or possession contracts.
  • A copy of passport and valid emirates ID of the applicant 
  • Water and electricity consumption bills for the last two months.
Applications should be submitted online and a representative from aafaq Islamic Finance will call you within one working day of receipt.
 
Please send your inquiries or submit your finance application by email to: medical@aafaq.ae
 
To download the product brochure for the finance of medical equipment, press here.
 
 
to apply, please   

 

This product is consistent with the provisions of Islamic Shari'a

To view Shari’a Certificate for this product, please click here

*Terms and conditions apply

REQUIREMENTS

Documentation

  1. Original Passport and valid emirates ID 
  2. Original Labour Card.
  3. Original Kulasat Qaid (For UAE Nationals) (we will retain copies of the above).
  4. Financing application form duly filled up.
  5. Original Property Sale Agreement OR copy of title deed / affection plan.
  6. Copy of receipts paid to developer till date (if applicable).
  7. Latest 6 months personal bank statements.
  8. Processing / Arrangement fees.
  9. Liability Letter.
  10. Cheque for AED 3,000/- for valuation of property.
  11. Post dated cheques or standing order confirmed from applicant's bankers.

Additionally for Salaried applicants

  1. Salary certificate (UAE Nationals & Residents) stating position, length of service, basic salary and other allowances.
  2. Salary Transfer letter from employer where applicable.

Additionally for Self-employed applicants

  1. Trade License.
  2. Chamber of Commerce Registration.
  3. Memorandum / Articles of Association.
  4. Latest Audited financials for 2 years (with 3 year's financial data).
  5. Company Bank statement for the past 6 months (1 year if no audited financials available).
  6. Copy of Bank Facility Letter/s (if applicable, i.e. if enjoying any credit facilities from other banks).

Requirement specific to Construction Finance

  1. Floor layout and specifications from the consultant.
  2. Approval of respective Emirate Municipality.
  3. Letter from consultant with estimated cost.
  4. Contractor's documents.

Process

  1. Application form to be filled.
  2. Acceptance of aafaq's Offer Letter (subject to aafaq approval).
  3. Complete documentation.

aafaq also provides financing for your Commercial Property

 

to apply, please   

 

* Approval subject to aafaq terms & conditions.

aafaq reserves the right to change any of the terms and conditions at its sole discretion.

CORPORATE FINANCING

Corporate Financing

aafaq islamic finance provides a full range of corporate banking services designed to meet all your business requirements in compliance to the Shari’a principle. We can help you with everything from Trade Finance to Project Finance. We have tailored a customized approach towards financing and have arranged individual solutions on a project specific basis. These solutions are all based on Shari’a compliant products and services that we continually tailor to the needs of our customers.

 

to apply, please   

TASAHEEL - CAPEX FINANCING

Tasaheel - Capex Financing

 

We also extend financing for the purchase of equipment/machinery, fleet of vehicles, as well as factory and warehouse construction and other capital expenditures with flexible repayment options that are in line with our customers' capabilities and cash flow.

 

to apply, please   

COMMERCIAL & SME FINANCING

Commercial & SME Financing

 

At aafaq, we understand the value of small and medium sized businesses (SME's) and thereby have catered to their individual financing requirements, ranging from short-term financing, trade financing to capital expenditure that will enhance their growth and performance.

 

Basic requirements for corporate financing are as follows:

  • Company Profile
  • Trade License copy
  • Constitutive documents such as Memorandum of Association (MOA), Partnership Deed, Power of Attorney (whenever required) etc.
  • Passport and valid emirates ID copies of owners and authorized signatories.
  • Audited financials for the past 2 years
  • Bank statements for the past 6 months
  • Project feasibility report (whenever applicable)
  • Request letter

 

to apply, please   

CORPORATE FINANCE

Corporate Finance

 

aafaq provides a full range of corporate banking services designed to meet all your business requirements in compliance to the Shari’a principles. We can help you with everything from Trade Finance to Project Finance. We have tailored a customized approach towards financing and have arranged individual solutions on a project specific basis. These solutions are all based on Shari’a compliant products and services that we continually tailor to the needs of our customers.

 

To view Shari’a Certificate for this product, please click here

To apply, please   

RETAIL FINANCING

Retail Financing

aafaq aspires to be an innovative financial services provider in the UAE, catering to the various financing needs of individuals.

With this in mind, aafaq provides Retail Financing options to UAE nationals & expatriates who are residing in the UAE.

All Retail financing solutions & services in aafaq are Shari'a-compliant, and these products adhere to the highest standards of Islamic Finance. Our Shari’a board of renowned Islamic scholars have vetted & approved all products currently provided by aafaq.

 

To view Shari’a Certificate for this product, please click here

To apply please   

PROPERTY FINANCE

Property Finance

"aafaq Property Finance" – Ideal Home Financing options.

aafaq offers you the chance to realize your dream by securing your life-long property and enjoy treasured moments in your life. "aafaq Property Finance" provides a variety of opportunities at a lower cost for your family's comfort. Compliant with Islamic Shari'a, aafaq employs several methods of financing including Ijara, Murabaha, and Istisna'.

Product

"aafaq Property Finance" offers the following products for UAE nationals and resident expatriates with a valid visa:

  • Purchase of ready property.
  • Buy-out finance for existing mortgages.
  • Equity release/re-finance of unencumbered property.
  • Construction finance for UAE nationals.

*All of the above is applicable to designated freehold/leasehold developments (UAE nationals & expatriates) and other freehold areas (UAE nationals only).

 

Eligibility:

Age
21 years (minimum).
60 - 65 years (maximum) upon maturity of financing.
 
Status of Applicant
Length of Employment for Salaried: 1 year (minimum).
Length of business for Self-Employed: 3 years (minimum).
 
Finance Amount
AED 250,000 (minimum).
AED 10,000,000 (maximum).
 
Finance to Value (FTV)
Up to 60% for UAE nationals and 50% for expat residents, based on current market value.
 
Tenure
Tenure up to 8 years.
 
Salary / Income
For Salaried individuals
AED 15,000 (min) per month for Individual applicants.
AED 18,000 (min) per month for Joint applicants.
(subject to one applicant with at least AED 10,000 per month).
 
For Self-Employed individuals
Annual income (portion of his/her income).
 
Profit Rates
Competitive Rates (on Variable or Fixed basis).
 
Processing / Valuation Fees
Processing Fees 1% with min. AED 5,000
Valuation Fees AED 3,000 from an independent valuator
 
 
to apply, please   

EDUCATION FINANCE

Education Finance

Who Is eligible:  Salaried & Self Employed, Parents  who are looking for  their children’s school fee payment and   individuals who  wanted to achieve their   higher education goals.

 

Eligibility:

Borrower’s min Age: 18 years
Borrowers Maximum age: 60 years  (Expats) : 65 years (UAE Nationals)
 
Length of service:
6 month or confirmed
 
Minimum salary:
AED 8,000/   (Without Salary Transfer)
 
Profit Rate:
5.5%  P.A.  Flat
 
Processing fee:
1.5% of facility amount  ( Min 500/ Maximum, 3,000/ )
 
Early Settlement fee:
Nil
 
Maximum Finance Amount:
200k ( Will Be subject to  University  /School  fee  invoice amount )
     Invoice to be addressed to aafaq Islamic Finance P.S.C.
 
Tenor of Finance:
School Fee maximum 12 months
     University and Higher education Min 6 – 48 month
 
to apply, please   

REQUIREMENTS

Required Documents: 

Salaried:
  1. Original Invoice from school or university   addressed to aafaq Islamic Finance
  2. Passport & Visa Copy of the borrower.
  3. Emirates ID copy
  4. Latest 03 month Bank statement's
T&C Applies 
Self Employed:
  1. Original  Invoice from  school or university  addressed  to aafaq  Islamic finance
  2. Passport & Visa copies  of all the  partners
  3. Emirates ID copies  of all the  partners including the  local sponsor
  4. Valid Trade License
  5. Latest 06 month bank statements
T&C Applies 

 

to apply, please   

 

Note :  For all the  cases  (Salaried  & self-employed  ) following to be  provided 
  • Etihad Bureau form to be completed
  • KYC Form

MANUFACTURING FINANCE

Manufacturing Finance

aafaq Islamic finance endorsing the initiative by His Highness Sheikh Mohammad bin Rashid Al Maktoum Vice-President and Prime Minister of UAE and Ruler of Dubai to promote "Dubai Industrial Strategy" .aafaq proudly provides “aafaq Manufacturing Finance” a customized financing facility dedicated for manufacturing sector to fulfill their financing requirements using Shari’a Compliant modes of finance and with very competitive rates. 
 
Features:
  • Simple documentation
  • Flexible Repayment tenure
  • High financing amounts up to AED 10,000,000
  • Customized plan as per requirements.
  • Attractive profit rates
 
to apply, please   

REQUIREMENTS

Requirements:
  • Valid Trade License
  • Complete set of Memorandum of Association
  • Passport copies of all the partners (including local partner )
  • Emirates ID copies of all the partners (including local partner )
  • Latest 2 years audited financials
  • Last 6 months bank statements
  • Any other documents required 

 

to apply, please   

AUTO FINANCE

Auto Finance

"aafaq Auto Finance" – Ideal Auto Financing options

aafaq Islamic Finance through its Islamic financing solutions, offers you the chance to realize your dream of securing your vehicle of choice and enjoy treasured moments in your life. aafaq Sayyarat provides a variety of opportunities at a lower cost for your family comfort. It is compliant with the glorious Islamic Shari'a, and employs the mode of Murabaha finance.

Product
"aafaq Auto Finance" offers financing for a wide variety of new vehicles for UAE nationals, resident expatriates with a valid visa and companies (fleet & commercial vehicles).

 

Eligibility:

Age
 
21 years (minimum).
60 - 65 years (maximum) upon maturity of financing.
 
Status of Applicant 
Length of Employment for Salaried: 6 months (minimum).
Length of business for Self-Employed: 1 year (minimum).
Length of business for Companies: 1 year (minimum).
 
Min Finance Amount
AED 15,000 /-
 
Down Payment
Starting from 20% down payment.
 
Tenure
Tenure Maximum upto 5 years for individuals.
 
Salary / Income
For Salaried applicants
Minimum AED 5,000 per month for Individual applicants.

For Self-Employed individuals
Last 3 months average credit turnover of AED 25,000/-.
 
For Companies
Average Monthly bank credits of AED 50,000.
 
Profit Rates
Competitive Profit Rates.
 
Processing Fees
Processing fees as applicable.

 
to apply, please   

SCHEDULE OF CHARGES & FEES

Products*

PERSONAL FINANCE AMOUNT/PERCENTAGE
Processing Fee 1% (Min of AED 500, Max of AED 2,500)
Deferment of Installment AED 100
Delayed payment (Payable to charity as per Sharia guidelines) Max AED 200
Finance Cancellation Fees AED 100
Others (Finance copy, issuing redemption statement, audit confirmation) AED 25
Early Payment (Full or Advance Partial) (in accordance with the CB rules and applicable product structure) 1% outstanding or Max AED 10,000/-
AUTO / VEHICLE FINANCE AMOUNT/PERCENTAGE
Processing Fee 1% (Min of AED 500, Max of AED 2,500)
NOC to Traffic department Free
Late Payment Charges (Payable to charity as per Sharia guidelines) AED 500 Max
Issuance of Liability letter to other banks AED 60
Cancellation fee AED 100
Early Payment (Full or Advance Partial) (in accordance with the CB rules and applicable product structure) 1% outstanding
OTHER FEES CHARGES FOR AUTO AND PERSONAL FINANCE AMOUNT/PERCENTAGE
Cheque / DDA return fee AED 100
Installment Deferment fee AED 100
Liability Letter issued to Government Departments, Embassies, FI AED 60
No Liability Letter AED 60
Clearance Letter AED 50
HOME FINANCE AMOUNT/PERCENTAGE
Processing Fee 1% (Min of AED 500, Max of AED 2,500)
Late Payment fee AED 700 Max
Early Settlement1 Max 1% of outstanding finance amount or AED 10,000 whichever is less
Issuance of Liability letter AED 85
Other Certificate AED 75
Non-standard statement production/copy of original document AED 100
Property swap Administration fee AED 1,320 (Valuation included)
Issuance of NOC AED 150
Partial Settlement Max 1% of outstanding finance amount or AED 10,000 whichever is less
Clearance letter AED 95
Request of Other Letters AED 90
CORPORATE FINANCE AMOUNT/PERCENTAGE
Processing Fee 1.5%
Early Settlement1 2%
Instalment Deferment charges AED 5,000/-
Returned Instalment fee AED 250
Late payment charges (Payable to charity as per Sharia guidelines) AED 400
Issuance of Liability letter AED 250
Replacement of PDC AED 250
Clearance letter AED 100
Other Certificates AED 250
WAKALA DEPOSIT AMOUNT/PERCENTAGE
Minimum amount required to open AED 10,000
Issuance of Wakala Balance Certificate AED 100
CREDIT CARDS AAFAQ PLATINUM
(Fixed Fee)#
BUSINESS COVERED CARD
(Annual fee & Monthly Profit Rate)*
RETAIL COVERED CARD
(Monthly Profit Rate)*
  Salaried Individual Self-Employed Salaried Individual
Monthly Fixed Fees AED 349 0 0
Monthly Profit Rate2 0 3.25% 3.25%
Annual Fees 0 AED 399 0
4th onwards Supplementary Card fee (first 3 free) AED 100 AED 100 AED 100
Cash withdrawal limit 40% 40% 40%
Cash withdrawal fees per transaction. (Maximum amount per withdrawal is AED 3,000)
AED 100 for each withdrawal
(Maximum amount per withdrawal is AED  3,000)
AED 100 for each withdrawal (Maximum amount per withdrawal is AED 3,000) AED 100 for each withdrawal (Maximum amount per withdrawal is AED 3,000)
Late Fees No No No
Over Limit Fees No No No
Non-AED transaction Fee 3.50% 3.50% 3.50%
Card replacement Fee AED 50 AED 50 AED 50
Cheque and Direct Debit return Fee AED 100 AED 100 AED 100
Copy of Sales voucher or purchase slip AED 25 AED 25 AED 25
Cancellation fees (before tenure ends): EPP / BT / FOP AED 200 AED 200 AED 200
Duplicate e-statement (per month statement) AED 15 AED 15 AED 15
Paper statement (per month statement) AED 25 AED 25 AED 25
Agency fee 0 AED 5 AED 5
Transaction Dispute investigation fee AED 25 AED 25 AED 25
Liability Letter Fee AED 50 AED 50 AED 50
CREDIT CARD -FINANCE FACILITY
Finance Facility

Min
Amount 
(AED)

Max
Amount 
(AED)

Tenure
(Months)
Amounts
Table
Processing Fee (AED)(Fixed) Payment Holiday Fee  (AED)
Balance Transfer (BT) 2,000 90% of Available limit 3,6,9,12
2,000-10,000
10,001-15,000
15,001-25,000
25,001-40,000
40,001-above
200
350
550
750
950
300
Finance on Phone (FOP) 2,000 20,000 3,6,9
2,000-5,000
5,001-10,000
10,001-15,000
15,001-20,000
250
450
650
850
300
Mazaya EPP
(for Mazaya EPP Merchants)
1,000 Transaction Amount 3,6,9,12 Transaction Amount 0 300
Normal EPP 1,000 Transaction Amount 3,6,9,12 Transaction Amount 250 300


Note*:

#A fixed monthly fee will be charged every month irrespective of card usage or not.

 1In accordance with the applicable terms of the relevant documentation.
2 Monthly Profit Rate means the rate at which the Murabaha Finance will be provided to the Customer for the Covered Card.
Fees and charges are subject to change without prior notification.
Fees & T&C's as applicable are excluding VAT charges.

*T&C apply.

NOJOOM

Nojoom

You can now continue with the labor guarantees [1] and save considerably on the cancellation & other related costs

With this, Aafaq offers you the chance to deposit your money in Shari’a compliant Wakala investments on which you can expect good returns and it also offers short to medium term financial support to meet your day to day Business requirements at very competitive terms.

Besides the aforesaid, there are other options available to cater to your needs.

To view Shari’a Certificate for this product, please click here

 

Kindly contact 04-7058400 or visit any of our outlets at Tas’heel centers or send an email to Nojoom@aafaq.ae for further details.


[1] You can continue with labor guarantee by submitting an application letter to  Ministry of Human Resources and Emiratization, Customer Happiness Center if you we're the "Owner", "Partner", "Services Agent" or "Authorized Signatory" and ask the Reception for guidance between 8:00 a.m. and 14:00 p.m. (Dubai, Al Qusais area, Ministry of Community Development entrance). You will receive a reply within 10 days and without any fees. Click here to view the application letter which you may send to the ministry. (You need to print on a letter-head with the name of the company after completing the missing information between brackets, get it stamped and signed by one of the authorized signatories, it should be written in Arabic).

 

AAFAQ PLATINUM CREDIT CARDS

Aafaq Platinum Credit Cards

aafaq Platinum credit card is uniquely designed to reward you for every use.
 
Apply today and start enjoying the following benefits:
 
  • Earn up to 2% SaveBack on all retail transactions
  • Earn monthly “aafaq Star Bonus”
  • Balance Transfer*, Easy payment plans and Finance on phone*
  • 200+ Retail discounts on lifestyle, dining, shopping, entertainment & wellness under “aafaq Mazaya” program

 

Your aafaq Platinum credit card is your one-stop shop for all your spending needs. Your card will enable you to spend hassle-free with secure features and with contactless tap-and-pay technology.
 
With your brand new Platinum credit card you will indulge in multiple benefits, offers, security and unmatched services. This Platinum credit card is built considering your basic needs, requirements and privileges which you always deserve. This card is packed with unique features and additional benefits like rewards, savings, multi-insurance, discounts, bonuses, concierge services, travel services and many more.
 
We would be highly delighted to serve you and to be a part of your daily life.
 
 
Our line of products:
 







aafaq Platinum
Business Covered Platinum
Retail Covered Platinum

 

 

BENEFITS AND FEATURES


 

SAVEBACK PROGRAM

Earnings:

Our exclusive “SaveBack” offer is created with a unique and deep thought of helping you save your money and give value to your spending. With our SaveBack program, you will be able to earn up to 2% on all retail spending. Using aafaq Platinum credit card, you will earn 1% SaveBack on all domestic retail spends and 2% SaveBack on all International retail spends.
 
Your spending is your key to earn SaveBack. The more you spend, the more SaveBack you will earn.
 
Card Type Spending International Spending Domestic SaveBack International SaveBack Domestic Total SaveBack
Platinum AED 1000 AED 2000 AED 20 AED 20 AED 40
 
 
   
         
Redemption   SaveBack Credits   SaveBack Vouchers*
You may redeem SaveBack accumulated on your credit card at any time, subject to the minimum SaveBack balance of minimum 100 SaveBack required for each redemption option. You have the following redemption options:   You can redeem your SaveBack as credits back to your aafaq Credit Card. The value of your SaveBack at the time of request will be processed on your aafaq credit card and will reflected in your next credit card statement. The minimum requirement for SaveBack Credit is 100.   You may redeem your SaveBack for “SaveBack Vouchers” for multiple retail, fitness, dining options from merchants listed with us. Minimum SaveBack required is 100 SaveBack for voucher redemption. You can redeem vouchers only in multiples of 100, equal to your SaveBack value.
 
Post the expiry of the SaveBack Vouchers, any pending collections or rights will automatically become null and void.
 
 
STAR BONUS PROGRAM*
 
Your trust and loyalty is our reward and we will honor your sincere commitment towards aafaq Platinum credit card in maintaining excellent standards. Our Star Bonus program keeps rewarding you based on your credit card overall performance.
 
So, keep spending and keep your repayment cycle regular.
 
*aafaq Star Bonus program is under sole discretion of aafaq Islamic Finance. This program is not mandatory to offer or linked to any other offers.
 
 
 
Balance Transfer:
You can transfer your other bank’s card balance* at 0% profit rate up to 90% of your aafaq Platinum credit card available limit. Convert your BT into 3, 6, 9, 12 months installment.
 
Apply anytime through aafaq 24/7 call centre.
 
*Minimum Balance Transfer of AED 2000. Processing fee as per the credit card schedule of charges will apply. BT terms and conditions will apply.
 
Avail easy Finance On Phone (FOP)* for a minimum FOP of AED 2,000, and a maximum of 40% of Aafaq credit card limit or AED 20,000, whichever is lower. Resolve all your emergency expenses and funding requirements** with just a phone call. Convert your FOP into 3, 6, 9 months installment with 0% profit rate.
 
* Processing fee as per the credit card schedule of charges will apply. FOP terms and conditions will apply. FOP will be processed from customer’s credit cards available cash limit.
 
** FOP amount will be transferred to customer’s own account in any UAE bank.
 
Customer can avail multiple financing on phone facility, but the total FOP amount should not be more than cash limit. FOP Terms & Conditions apply.
 
Shop hassle-free and call us to make your any retail purchase into 0% profit rate in easy monthly installments*. Emergencies or big expenses will be made easier for you to pay. You can convert your purchase into 3, 6, 9, 12 months easy payments. Processing fee as per the credit card schedule of charges will apply. EPP Terms and conditions will apply.
 
*Applicable for purchases done on merchants outside aafaq Mazaya program's EPP partners. For EPP, minimum transaction amount is AED 1,000. A one-time processing fee as per the credit card schedule of charges will apply.
 
Payment Holiday Plan:
As a special benefit, we have created a payment holiday month on your installment plans, wherein you can enjoy your first installment postponement for one month. Payment holiday plan is only applicable on installment plans, like Balance Transfer (BT), Easy Payment Plans (EPP), and Finance on Phone (FOP) plans. All other retail purchases and cash purchases are not applicable for this plan.
 
*A nominal processing fee will be only charged for each payment holiday plan.
 
* For Finance Facility T&C's click here
 

 

MAZAYA PROGRAM

We are offering you endless possibilities through our “Mazaya Program” offers exclusive for aafaq Platinum credit card holders.

Your spending is made more interesting and rewarding with our supreme benefits, privileges, discounts at dining, electronics, jewellery, beauty, spas, health, entertainment, travel and a lot more.
 
Use aafaq Platinum credit card at the listed merchant outlet to earn direct offers and discounts on your total spending.
 
For more details and the full list of our partner merchants please click here "EPP Partners", "Discounts Partners" and "Dining Partners".
 
Few of our partner merchants:
 
 
 
Pay at Ease:
Convert your spends to 0% profit rate using Easy Payment Plans (EPP)*. Spend at any of the listed EPP participating merchants and convert your transaction to profit free Payment Plan of 3, 6, 9 or 12 months. Just call aafaq 24/7 contact centre.
 

*EPP minimum transaction amount is AED 1,000. 0% profit rate and no processing Fee with EPP partner merchants only under Mazaya program.

 
 

Enjoy up to 2 complimentary valet parking visits per month at the selected Valtrans Valet Service locations below;
 
Abu Dhabi Locations:
  1. Dalma Mall
  2. Deerfields Mall
  3. Ferrari World
  4. Marina Mall
  5. Yas Mall
  6. Yas Waterworld
 
Dubai Locations:
  1. Dubai International Airport Terminal 1, 2 and 3 (up-to 1 hour only) *
  2. Ibn Battuta Mall
  3. Wafi City
 
 
How to Use:
  • Simply present your Aafaq Platinum Credit Card to the Valtrans Valet Representative to avail this complimentary service. 
 
Terms & conditions:
  1. Cardholders with a minimum spend of AED 3,000 in the previous billing cycle, otherwise will be charged AED 100 per visit
  2. Monthly visits are limited to 2, any further visits shall be charged at AED 100 per visit
  3. Some locations may not be operational due to Covid-19
 
*Additional hours shall be charged by Valtrans as per their policy

 

 
Unlimited, complimentary access for you* to over 25 regional and international lounges across UAE, Saudi Arabia, Jordan, Kuwait, Egypt, Morocco, USA, UK, Canada, Germany, France, Singapore, and more
 
• Access to business facilities—email, internet, phones, fax machines, and conference space in some lounges
 
• Complimentary refreshments and snacks
 
*Note: Guests will be charged
 
Airport   Lounge
ABU DHABI (AUH)   Diamond Lounge, VIP Terminal
AMMAN (AMM)   Petra Lounge
AMSTERDAM (AMS)   Aspire Lounge (No.41), Terminal 3
BANGKOK (BKK)   Miracle First Class Lounge, International Concourse G
BARCELONA (BCN)   Sala VIP Miro, Terminal 1
BRUSSELS (BRU)   Diamond Lounge, Terminal B
CAIRO (CAI)  
First Class Lounge, Terminal 1
First Class Lounge, Terminal 2
First Class Lounge, Terminal 3
CASABLANCA (CMN)   Pearl Lounge (Departures), Terminal 2
DUBAI (DWC)  
Marhaba Lounge
DUBAI (DXB)  
Marhaba Lounge, Terminal 3 Concourse A
Marhaba Lounge, Terminal 3 Concourse B
Marhaba Lounge, Terminal 3 Concourse C
Marhaba Lounge, Terminal 1 Concourse D
FRANKFURT (FRA)
  Sky Lounge, Terminal 2
HONG KONG SAR (HKG)
  Plaza Premium Lounge, Terminal 1
ISTANBUL (IST)
  Primeclass CIP Lounge, International Terminal
JEDDAH (JED)   First Class Lounge, North Terminal
KUALA LUMPUR (KUL)   Plaza Premium Lounge, KLIA1 (Satellite)
KUWAIT (KWI)   Dasman Premier Lounge, Terminal M
LONDON (LHR)   Aspire, The Lounge at LHR, Terminal 5  
NEW YORK (NY) (JFK)   Wingtips Lounge, Terminal 4
PARIS (CDG)   Star Alliance Lounge, Terminal 1
ROME (FCO)   Passenger Lounge, Terminal 3
SINGAPORE (SIN)   SATS Premier Lounge, Terminal 3
TORONTO (YYZ)   Plaza Premium Lounge (Int’l Departures), Terminal 1

For more information on Longue access please visit https://www.mastercard.ae/en-ae/consumers/longue-platinum.html

 

Now when you travel for extended periods of time, you can feel at home with discounts of up to 15% on your stay at prime luxury serviced apartments, which includes:
 
• Over 2,500 onefinestay properties across London, New York, Los Angeles, Paris, and Rome
• Grosvenor House Dubai
• Over 25 Oakwood properties across eight locations in Asia Pacific, including China, Japan, Thailand and India
 
Simply visit any one of the below partner’s logos website for more information.
 

 

Cleartrip Travel Discount

Visit the Cleartrip website and book any airline or hotel using your Platinum Mastercard® and enjoy up to 30% discount on your travel booking:

Combine the airline and hotel discounts for a holiday package and get up to AED 1,400 discount on your bookings.

Simply go to www.cleartrip.ae, select your airfare and/ or hotel nights, and enter promo code MASTERCARD.

Number of travelers Number of room nights % Discount Minimum cap (AED) Package Maximum cap (AED) Package
5 5 30% 700 1,400
4 4 25% 500 1,000
3 3 20% 300 600
2 2 15% 150 300
1 1 10% 50 100

 

Hundreds of complimentary offers throughout Middle East & Africa across dinings, cafe?s, entertainment, attractions and spas.
 
• Complimentary main course when you buy one main course
• Complimentary 60-minute therapeutic spa session when you avail of one 60-minute therapeutic spa session
• Complimentary entre?e when you buy one entre?e
 
Download the Mastercard Buy 1 Get 1 mobile App from Apple Store or Google Play Store.

 

 
CAREEM:
Now when you travel across countries in the Middle East with aafaq Platinum MasterCard, you can enjoy:
 
• Your first ride free (for new Careem customers only)
• 20% OFF three rides every month
 
Simply download Careem app from Apple store or Google Play Store.
 
To enjoy free first ride, simply add promo code MC1RIDE and for 20% discount add promo code MASTERCARD when booking.
 
AVIS:
Whether you are traveling with your family or on a business trip, enjoy exclusive benefits with Avis. With your aafaq Platinum MasterCard, you can now enjoy access to:
 
• Up to 15% off your next car rental
• A complimentary upgrade with every rental, worldwide
 
Simply visit avisworld.com/avisonline and use your Platinum MasterCard card to reserve your vehicle today.

 

European Shopping Villages Offers

The Bicester Village Shopping Collection is defined by its luxury brands, charming open-air ‘village’ settings and exceptional value for money with world-leading brands offer savings of up to 60%. Aafaq Platinum MasterCard cardholders can get access to:
 
• VIP invitation (to be exchanged for a VIP card that offers an additional 10% discount on purchases in participating boutiques)
• 15% discount on shopping packages
• 15% discount on chauffeur drive experience at participating villages
• 15% discount on Shopping Express
• Access to VIP lounges (subject to availability)
Simply visit thebicestervillageshoppingcollection.com/mastercard-mea for more details.
 
Priceless Cities
Access handpicked experiences and offers in cities around the world.
Find a key to your city with Priceless Cities.
 
Visit priceless.com for more exiting details.

 

MyUS Premium Shipping Discounts

Shop at over 100,000 U.S. retailers, including Apple, Amazon and Ralph Lauren and get fast, reliable, affordable international shipping with MyUS, #1 in the industry with over 10 million packages shipped since 1997.
 
As a Mastercard cardholder, you will receive:
 
• A MyUS address to use at checkout with your favorite online stores
• Free Premium Membership for 2 years (a $120 value)
• Free account setup (a $20 value)
• 30% off shipping for first month following registration
• 20% off shipping for remainder of 2 year membership
 
Simply go to http://www.myus.com/welcome/mastercardpremium to register with your Mastercard card
 
 
 
Purchase Protection
Shop with confidence, knowing that the purchases you make with your Platinum Mastercard® are:
 
• Protected in case of theft or accidental damage up to 90 days from date of purchase.
 
• Covered for up to USD 2,000 per claim and a maximum of USD 5,000 over a 12-month period. In case of damage, you can either get a new item to replace the damaged one or receive compensation for the item’s total value, as per the store receipt.
 
For more details please visit: www.mcpeaceofmind.com/Platinum
 
Chip & PIN cards are smart cards that provide additional security by requiring a unique 4-digit PIN to complete your card transactions. You can use the same PIN for cash withdrawals at the ATM.
 
For every purchase, you will receive SMS alerts on your mobile. You will be automatically enrolled for this service upon activation.
 
To protect and keep your online transactions safe, we have partnered with MasterCard to provide you with SecureCode security on all your online transactions. With SecureCode your card is protected and you can safely shop online by receiving an OTP (one time password) to your registered mobile number every time you make an online purchase.
 
This will ensure your card details and purchase is never compromised, no online transaction will be completed without the SecureCode (OTP).
 
To know more on Secure code, please visit mastercard.ae/consumers/features-benefits/securecode
 
 
 
Direct Debit Facility:
You can use the scheduled monthly auto debit facility for the payment of your monthly card outstanding balance automatically from your account at any bank in the UAE. To enroll for direct debit facility, please speak to our Customer Service Representative.
 
Recent Dated Cheques:
You can pay through recent dated cheque* and deposit the same at any of our branches at Tasheel centers. Please ensure to attach the payment slip of your statement with cheque and write the cheque in favor of “aafaq credit card ” e.g. “aafaq credit card 5191 1712 3456 7890” Please do not staple the cheques to payment slip.
 
aafaq Centers:
You can pay through cash or cheque at any of aafaq centers at Tasheel centers during working hours.

Online Transfer:
You can pay your monthly aafaq credit card bills through online transfer to any of the following accounts.
 
Account Name: AAFAQ ISLAMIC FINANCE PSC
Bank Name: DUBAI ISLAMIC BANK
Account Number: 001520042638112
IBAN Number: AE83 0240 0015 2004 2638 112
Bank Code Number: DUIBAEADXXX
 
OR
 
Account Name: AAFAQ ISLAMIC FINANCE PSC
Bank Name: EMIRATES ISLAMIC BANK
Account Number: 003707471593307
IBAN Number: AE05 0340 0037 0747 1593 307
Bank Code Number: MEBLAEAD
 
Send a copy of the electronic transfer receipt and the registered mobile number to cards.support@aafaq.ae. After payment confirmation, aafaq’s support team will do the needful to complete your transaction.
 
Please make sure the payment has been made at least 2-3 days prior to the due date.
 
 
Monthly Flexible Payment:
With aafaq Platinum Credit Card, you can choose your monthly minimum payment amount from 5%, 10%, 25%, 50% or 100%. Your minimum payment amount will be settled every month before the due date, the rest of your outstanding balance will be carried forward to the next month statement.
 
Quick Cash:
Use your aafaq Platinum credit card up to 40% of your credit limit for quick cash at over 850,000+ ATMs worldwide. Your card is acceptable at any ATMs displaying MasterCard logo or symbol.
 
A quick cash advance fee (for all withdrawal) and conversion fee for international withdrawals will apply.

Repayment Days:
aafaq Platinum credit card provides you a maximum of 55 days to repay without any additional charge*
 
*On the condition that you to continue paying your outstanding balance in full, by the due date.
 

USEFUL LINKS

 

To view Shari’a Certificate for this product, please click here

 

To apply, please call 600502006 or send an email to creditcards@aafaq.ae

CORPORATE GUARANTEES

Corporate Guarantees

aafaq islamic finance offers several types of Corporate Guarantees with flexible margin options, simple & fast processing. Aafaq provides the following types of Corporate Guarantees: 
  • Bank Guarantees
  • Labor Guarantees
  • Establishment Guarantees
  • Financial Guarantees
  • Bid Bonds
  • Advance Guarantees
  • Performance Bonds
  • Retention and Maintenance Guarantees
 
Highlights
  • Special profit rates for covered deposits (through Wakala investment).
  • Easily transfer an existing Guarantee with no fees.
  • Quick approval process.

 

To view Shari’a Certificate for this product, please click here

To apply, please   

 

*Terms & conditions apply.

INVESTMENT DEPOSITS

Investment Deposits

Build long term relationship by depositing your funds in Shari'a compliant Wakala investments on which you can expect high returns. On maturity, Corporates can enjoy several renewal options, from rolling over principal amount & profit to rolling over the principal amount and collecting the profit. 

 

Highlights:

  • Flexible Tenures.
  • no deposit breakage fees.
  • Minimum Deposit amount starting from as low as RED 10,000/-.
  • Complimentary or discounted services for large Deposits.
  • Easily get a finance against your deposit and at anytime.

 

To view Shari’a Certificate for this product, please click here

To apply, please   

 

*Terms & conditions apply.

SAHOBAT INVESTMENT DEPOSIT

Sahobat Investment Deposit

Introducing Aafaq Islamic Finance’s new Sahobat - Wakala Deposit for your business. 
 
This product is tailor-made to give your company even more chances of Shari’a Compliant profit.
 
All you need to do is deposit as low as AED 500 in Sahobat Wakala Deposit to get a chance to win cash prizes! 
 
  1. Monthly & Quarterly Draws
  2. The more you invest, the more tickets you are entitled to
  3. 10 prizes of AED 500 monthly
  4. 1 prize of AED 2,000 quarterly
  5. 1 prize of AED 3,000 quarterly
  6. 1 prize of AED 5,000 quarterly 
 
What are you waiting for? Call us on 600502006 or visit us now! 
 
 

Terms & Conditions:

 

  1. In order to ensure transparency of the draw process and integrity of the product, aafaq has the right to advertise the winners name as and when required. In case any Client wins, by default they must make themselves available for photograph as required by aafaq Islamic Finance which will also be advertised as required. In case the customer wishes not to disclose their name and picture publicly, they must request the same in writing.
  2. Aafaq Islamic Finance reserves the right to change the prize value, quantity and type for any coming rounds at its sole discretion and the new prizes will be announced before starting the new round.
  3. Aafaq Islamic Finance reserves the right to change the T&C for Wakala Investment Account draw entry at any time.
  4. Aafaq Islamic Finance reserves the right to forfeit the prize money if:

1.       Not claimed within 3 months of announcing the winning customer; or

2.       Appropriate identity evidence is not provided (e.g. account name differs).

  1. Aafaq Islamic Finance reserves the right to stop renewing the scheme at any time without prior notice.
  2. Employees of Aafaq Islamic Finance including its subsidiary (if any) along with their immediate family members who own a company or is a partner (active or passive) are not eligible to enter the Wakala Investment account draws (big or small) but will be allowed to invest in a Wakala Investment deposit.
  3. The investments under this scheme will be governed by the Master Wakala Agreement and related Terms & Conditions.