aafaq Google Analytics
  • arabic
  • P.O. Box 282400, Dubai, United Arab Emirates
  • 00971.4.330.6444
  • 00971.4.330.6222
  • info@aafaq.ae
Sadad Online

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.

TADAWUL - SHARE FINANCING

Tadawul - Share Financing

Tadawul is a unique product offered to clients to trade in Islamic shariah compliant shares to maximize their profits. Finance will be based on the existing share portfolio.

This Facility is offered to clients through brokerage houses to trade in Islamic shariah compliant shares.

 

Features

  • Maximize  the  profit by increasing the  trading volume
  • Maximum Finance period  will be  12 months
  • Finance will be  up to a maximum of 1:1 basis
  • Simple documentation process.

 

to apply please   

 

Contact Details:
Address: 1st Floor, Single Business Tower, Business Bay, Sheikh Zayed Road
P.O. Box 282400, Dubai, U.A.E.
Telephone No.: +971 4 3306444
Toll-Free 800 aafaq (22327)
Fax No.: +971 4 3306222
Email Address: customer.care@aafaq.ae

TASAHEEL - BUSINESS FINANCE

Tasaheel - Business Finance

Tasaheel is a unique product that is Shari'a compliant and specifically tailored to suit the working capital requirements for businesses in the U.A.E.  Tasaheel financing is easy to obtain with simple requirements and prerequisites, accompanied by a flexible repayment period.

Features:

  • Simple Documentation Process
  • Flexible Repayment Tenure
  • Minimum Financing AED 100K

Documents:

  • Valid Trade License
  • Complete set of MOA’s
  • Passport copies of all the partners (including local partner )
  • Emirates ID copies of all the partners (including local partner )
  • Latest 3-4 years audited financials
  • Latest 6 months bank statements
  • Any other documents required by Credit 

 

to apply please   

 

Contact Details:
Address: 1st Floor, Single Business Tower, Business Bay, Sheikh Zayed Road
P.O. Box 282400, Dubai, U.A.E.
Telephone No.: +971 4 3306444
Toll-Free 800 aafaq (22327)
Fax No.: +971 4 3306222
Email Address: customer.care@aafaq.ae

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   
 
Contact Details:
Address: 1st Floor, Single Business Tower, Business Bay, Sheikh Zayed Road
P.O. Box 282400, Dubai, U.A.E.
Telephone No.: +971 4 3306444
Toll-Free 800 aafaq (22327)
Fax No.: +971 4 3306222
Email Address: customer.care@aafaq.ae

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

*Terms and conditions apply

REQUIREMENTS

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 FINANCE

Corporate Finance

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   
 
Contact Details:
Address: 1st Floor, Single Business Tower, Business Bay, Sheikh Zayed Road
P.O. Box 282400, Dubai, U.A.E.
Telephone No.: +971 4 3306444
Toll-Free 800 aafaq (22327)
Fax No.: +971 4 3306222
Email Address: customer.care@aafaq.ae

WORKING CAPITAL

Working Capital

 

At aafaq, we continually seek to understand the working capital requirements of your business, and provide financing solutions that better serve and meet your precise requirements. Our products include import and export financing, inventory financing of all Shari’a Compliant goods and a host of other receivable financing solutions. We work hard to bridge the gaps in your working capital and cash flow.

 

to apply please   

 

Contact Details:
Address: 1st Floor, Single Business Tower, Business Bay, Sheikh Zayed Road
P.O. Box 282400, Dubai, U.A.E.
Telephone No.: +971 4 3306444
Toll-Free 800 aafaq (22327)
Fax No.: +971 4 3306222
Email Address: customer.care@aafaq.ae

CAPEX FINANCING

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   

 

Contact Details:
Address: 1st Floor, Single Business Tower, Business Bay, Sheikh Zayed Road
P.O. Box 282400, Dubai, U.A.E.
Telephone No.: +971 4 3306444
Toll-Free 800 aafaq (22327)
Fax No.: +971 4 3306222
Email Address: customer.care@aafaq.ae

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   
 
Contact Details:
Address: 1st Floor, Single Business Tower, Business Bay, Sheikh Zayed Road
P.O. Box 282400, Dubai, U.A.E.
Telephone No.: +971 4 3306444
Toll-Free 800 aafaq (22327)
Fax No.: +971 4 3306222
Email Address: customer.care@aafaq.ae

CORPORATE / BUSINESS FINANCING

Corporate / Business Financing

 

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 apply please   
 
Contact Details:
Address: 1st Floor, Single Business Tower, Business Bay, Sheikh Zayed Road
P.O. Box 282400, Dubai, U.A.E.
Telephone No.: +971 4 3306444
Toll-Free 800 aafaq (22327)
Fax No.: +971 4 3306222
Email Address: customer.care@aafaq.ae

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 apply please   

PROPERTY FINANCE

Property Finance

"aafaq Aqaarat" – 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 Aqaarat" 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 Aqaraat" 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   

 

Contact Details:
Address: 1st Floor, Single Business Tower, Business Bay, Sheikh Zayed Road
P.O. Box 282400, Dubai, U.A.E.
Telephone No.: +971 4 3306444
Toll-Free 800 aafaq (22327)
Fax No.: +971 4 3306222
Email Address: customer.care@aafaq.ae
 

TALEEM EDUCATION FINANCE

Taleem 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   

 

Contact Details:
Address: 1st Floor, Single Business Tower, Business Bay, Sheikh Zayed Road
P.O. Box 282400, Dubai, U.A.E.
Telephone No.: +971 4 3306444
Toll-Free 800 aafaq (22327)
Fax No.: +971 4 3306222
Email Address: customer.care@aafaq.ae

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   

 

Contact Details:
Address: 1st Floor, Single Business Tower, Business Bay, Sheikh Zayed Road
P.O. Box 282400, Dubai, U.A.E.
Telephone No.: +971 4 3306444
Toll-Free 800 aafaq (22327)
Fax No.: +971 4 3306222
Email Address: customer.care@aafaq.ae

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 Sayyarat" – 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 Sayyarat" 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: 2 years (minimum).
 
Finance Amount
AED 30,000 (minimum).
up to AED 500,000.
 
Down Payment
Starting from 20% down payment.
 
Tenure
Tenure Maximum upto 4 years.
 
Salary / Income
For Salaried applicants
AED 7,000 (min) per month for Individual applicants.
AED 10,000 (min) per month for Joint applicants.
(subject to one applicant with at least AED 5,000 per month).
 
For Self-Employed individuals
Minimum monthly income of AED 20,000.
 
For Companies
Average Monthly bank credits of AED 50,000.
 
Profit Rates
Competitive Rates on Fixed / variable basis.
 
Processing Fees
Processing fees as applicable.

 
to apply please   
 
 
 
Contact Details:
Address: 1st Floor, Single Business Tower, Business Bay, Sheikh Zayed Road
P.O. Box 282400, Dubai, U.A.E.
Telephone No.: +971 4 3306444
Toll-Free 800 aafaq (22327)
Fax No.: +971 4 3306222
Email Address: customer.care@aafaq.ae