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“Tamweely” Personal Finance, is a personal financing scheme from KFH-Bahrain that adheres strictly to the Shari’a principles and allows you to fulfil your personal goals and dreams with up to BHD 100,000 of financing.
It is so easy, simply apply now and you can benefit from an easy repayment plan up to 84 months (7 years).
- An Islamic Shari’a compliant “Tawarruq” facility.
- First real-time experience of a “Tawarruq” process.
- “Tamweely” Personal Financing is available to salaried individuals.*
- All nationalities are eligible to apply.
- Lowest Profit rates.*
- Get financing of up to BHD 100,000.
- Enjoy low profit rates and a generous repayment period up to 84 months.
- Quick and easy processing.
* Terms & Conditions apply
- Easy repayment plan up to 84 months (7 years).
- Up to BHD 100,000 financing.
- If you are employed you need the following:
- Bank statements based on the eligibility criteria.
- Original copy of a recent salary certificate.
- Original copy of a salary transfer letter from your employer.
- Original Passport and CPR.
- Benefit Bureau Form (provided by KFH-Bahrain).
- Finance Application Form (provided by KFH-Bahrain).
- Account Opening Form for non-account holders (provided by KFH-Bahrain).
- Final Indemnity for Expatriates.
Tamweely Fatwa
- “Tamweely” is based on palm oil commodity “Murabaha” whereby the transaction and transfer of product-ownership occur in real-time.
- You should declare your intentions to purchase any commodities from KFH-Bahrain by providing a Desire to Purchase Promise to the Bank.
- In the desire to purchase promise, you will request KFH-Bahrain to purchase and own commodities who will then in turn sell it to you through monthly instalments.
- KFH-Bahrain will purchase the commodities, through its international brokerage partner, from the Malaysia Bourse.
- Once the commodities are purchased and an ownership certificate is issued in the name of KFH-Bahrain, you will sign a “Murabaha” contract for the purchase of the described commodities through fixed monthly instalments.
- KFH-Bahrain will request the broker to transfer the ownership of the commodities to you and, accordingly, an ownership certificate will be issued.
- You will personally contact KFH-Bahrain’s international brokerage partner and will authorize the broker to sell the commodities on your behalf in the Malaysia Bourse or you may physically collect the commodities from the Malaysia Bourse.
- Malaysia Bourse is governed by an independent Islamic Shari’a body that monitors and ensures the proper transactions and trading of the approved commodities between the clients and suppliers.
