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In this fast-paced world, financial support for new business opportunities should come with peace of mind. As an international Bank with vast global and local expertise, Standard Chartered Bank offers you a world-class financial solution, which provides you the liquidity that you need while keeping the transactions in harmony with the Shariah principals.
Saadiq SME Tijarah Finance is a Shariah compliant financing facility provided to assist Small and Medium-sized Businesses in meeting their financial needs such as short-term working capital, payroll or support for expansion plans. Designed in accordance with the principles of Shariah, Saadiq SME Tijarah Finance is free of "riba" (interest). It has been reviewed and approved by the Shariah Supervisory Committee, an independent committee of qualified scholars of international repute.
Saadiq SME Tijarah Finance is based on the 'Tawaruq' concept, which is a widely recognised Islamic finance concept used to generate liquidity for customers through a process of buying and selling goods. Our financing procedure is quick and straightforward, involving two independent transactions:
Transaction 1
Step 1: You approach us with a request to purchase metals.
Step 2: We sell the metals to you at a price that includes a fixed profit margin, and you agree to pay the whole amount in fixed Equal Monthly Instalments (EMI).
Transaction 2
Step 1: We help you then sell the metals at a price to an international trader. The proceeds from the sale will be deposited into your Account.
Saadiq SME Tijarah Finance offers two flexible options to obtain financing to meet your business requirements:
a) Partially secured: By maintaining a Deposit as a security with Standard Chartered Bank, you can take advantage of a lower profit rate on your Saadiq SME Tijarah Finance. Required security (fixed deposit) amount: 25% to 33% of the finance amount.*
b) Unsecured: Enjoy the flexibility of Saadiq SME Tijarah Finance without the obligation of maintaining a Deposit as a security and fulfill your funding needs with ease.
- A financial solution that understands your values
- Competitive profit rate which is fixed throughout the tenor of the finance
- Higher finance amount up to AED 391,000*
- Convenient and quick processing
- Longer finance tenor up to 48 months* making your repayment affordable
Eligibility:
To be eligible, your business must have been established for at least three years. A company with a two-year history may be eligible if the finance is availed by maintaining a Deposit as security.
The Saadiq SME Tijarah Finance can be availed by:
- Proprietorship
- Partnerships
- Limited Liability Companies
- Self-employed professionals
