Islamic Financing

What is the financing product “IJARA TAMLIKIA”?

The product “IJARA TAMLIKIA” is a Charia-compliant financing solution that allows individuals to acquire ownership of a completed residential property using the “Ijara Mountahia Bi Tamlik” technique.

Who can benefit from it?

Any individual:

– Of Algerian nationality

– Aged between 19 and 73 years

– Resident in Algeria or abroad

– With a regular income of 30,000 DZD or more

What are its advantages?

– Financing of up to 90% of the acquisition cost

– Lease duration of up to 40 years

– Option to increase the financing amount by involving a partner

– Fixed and pre-agreed monthly installments

– No late payment penalties

– A profit margin rate of 6%

– Natural disaster insurance paid by the Bank

What is the product “Mourabaha SAYARA”?

It is a financing formula compliant with the principles of Islamic Sharia, using the Mourabaha formula. It is intended for the acquisition of a new personal vehicle of your choice, manufactured or assembled in Algeria.

Who can benefit from it?

Any natural person:

• Of Algerian nationality and resident in Algeria;
• Aged between 21 and 70 years;
• Having a monthly income equal to or greater than one and a half (1,5) times the SNMG (National Minimum Guaranteed Wage).

How does it work?

• The client chooses the vehicle he wishes to acquire, and submits his financing request file “view and download the financing file”, to the Islamic finance window of the CNEP-Banque;
• The CNEP-banque purchases the vehicle with its own funds and resells it to the customer, under a Mourabaha contract, at the purchase price, plus a profit margin agreed and communicated in advance;
• The client becomes the owner of the vehicle upon signing the Mourabaha contract.

What are the conditions?

• The financing amount can reach up to 4,000,000 DA, depending on the customer’s repayment capacity;
• The repayment period is between 12 and 60 months, depending on the client’s choice and age;
• Hamich Al Jiddiya is equal to only equal to 10% of the price of the vehicle;

What is the applicable pricing?

The applicable pricing is set in the Bank’s general conditions.

What are the advantages ?

• Possibility to have a co-debtor to increase your ability to access a higher financing amount;
• Advantageous and very competitive pricing;
• Possibility of partial or total early repayment of the sale price;
• Efficient and fast processing of your requests is ensured by our team.

What is “Tamwil Mahallat” financing?

A financing formula compliant with Islamic Sharia principles, using the Mourabaha formula. It is intended for the acquisition of commercial or professional premises of your choice.

Who can benefit from it?

Any individual who meets the following conditions:

• Algerian nationality, resident or non-resident in Algeria.
• Aged between 19 and 70 years.
• Monthly income equal to or greater than 1.5 times the SNMG (National Guaranteed Minimum Wage).

Which premises does this financing cover?

• Finished commercial or professional premises to be purchased from an individual
• finished or enclosed and covered commercial or professional premises, to be acquired from a real estate developer

How does it work?

• The client selects the premises they wish to acquire and submits their financing request “view and download the financing file” to the Islamic finance window of the CNEP-Banque.
• The CNEP-Banque purchases the premises with its own funds and resells it to the client, under a Mourabaha contract, at the purchase price plus a pre-agreed and communicated profit margin.

• The client becomes the owner of the premises upon signing the Mourabaha contract.

What are the conditions?

• The financing amount can reach up to 50,000,000 DA, depending on the client’s repayment capacity.
• The repayment period ranges from 2 to 15 years, depending on the client’s choice and age.
• The Hamich Al Jiddiya is only equal to 10% of the acquisition cost of the premises .

What is the applicable pricing?

The applicable pricing is specified in the bank’s general conditions.

What are its advantages?

• Exclusive financing solution offered by CNEP-Banque.
• Possibility to have a co-debtor to increase your ability to access to a higher financing amount.
• Competitive and advantageous pricing.
• Option for partial or total early repayment of the purchase price.
• Quick processing of your financing request is ensured by our team.