021-111 475 264Call
[email protected]ای میل
Home

BankIslami Islamic Personal Finance

Finance Life’s Important Moments The Halal Way

Whether it’s a medical emergency, your child’s education, an upcoming wedding, or clearing a conventional loan life’s needs don’t wait. BankIslami’s Islamic Personal Finance gives you access to the funds you actually need, through a structure that is 100% Riba-free and certified by our Shariah Supervisory Board.

No interest. No ambiguity. Just honest, halal financing — for real people with real needs.

What is Islamic Personal Finance?

Because Some Needs Can’t Wait — and Riba Isn’t the Answer

BankIslami Islamic Personal Finance is a Shariah-compliant financing facility structured on the Tawarruq model.

Conventional personal loans charge interest (Riba), which is strictly prohibited in Islam. BankIslami’s product eliminates Riba by using Shariah-compliant Mutual Fund Units (MFUs) as the underlying asset. The transaction is structured through a transparent sale-and-purchase contract, reviewed and approved in accordance with the AAOIFI Shariah Standards, and overseen by BankIslami’s Shariah Board.

What Can You Use It For?
Financing That’s Focused on What Matters

This facility is designed specifically for Dire personal needs:

  • Medical & Hospitalization Expenses — Unexpected health costs shouldn’t derail your finances
  • Educational Expenses — Invest in your future or your child’s education without Riba
  • Marriage Expenses — Give your family’s special occasion the attention it deserves
  • Settlement of Conventional (Riba-based) Loans — Make the transition to a completely halal financial life
  • Other Dire Personal Needs — Subject to prior Shariah Board approval

نوٹ: All financing purposes require a signed customer undertaking and supporting evidence where applicable (e.g., hospital invoice, fee challan, loan statement).

Key Product Features

Flexible. Transparent. Shariah-Certified.

Feature Detail
Shariah Structure Tawarruq (Shariah-Compliant Mutual Fund Units)
Minimum Financing PKR 50,000
Maximum Financing (Regular) PKR 3.0 Million
Maximum Financing (Prime) PKR 4.0 Million
Payment Tenure 6 months to 48 months (4 years)
Installment Type Equal Monthly Installments (EMI)
Processing Fee PKR 7,000 excl. FED (PKR 2,000 at login + PKR 5,000 post-approval)
Late Payment Charity (not profit) — donated to approved social causes
*charity funds are audited by the Shariah Board and segregated from bank assets.
Offer Letter Validity 45 days from issuance
How Does It Work?

End-to-End Process Flow

  • Customer Approaches
  • Application Submission
  • Verification
  • Credit Review (CIU)
  • Offer Letter
  • Legal Documentation (CAD)
  • Tawarruq Execution (Shariah-Compliant Financing)
  • Bank Purchases Units
  • Sale to Customer (Deferred Basis)
  • Redemption & Liquidity
  • Disbursement
Who Can Apply? — Eligibility Criteria

BankIslami Islamic Personal Finance is available to Pakistani salaried individuals — including employees of MNCs, Local Corporate Groups, and public/private limited companies.

Criteria Regular Customer Prime Customer
شہریت پاکستانی پاکستانی
Age 18–65 years (at maturity) 18–65 years (at maturity)
Min. Net Income PKR 50,000/month PKR 300,000/month
ملازمت کی مدت: 6 months current (MNC/LCG); 1 year (Pvt/Pub Ltd) 1 year current, 5 years continuous history
Max Financing PKR 3.0 Million PKR 4.0 Million
DBR Up to 35% of net income Up to 35% of net income
Credit History No 90+ DPD ever; max 2x in 30+ DPD in last 12 months Never in 30 DPD in last 12 months
How Much Can You Get?

Your Income Determines Your Financing Multiple

Monthly Income Financing Multiple
PKR 50,000 – 100,000 Up to 6x monthly net income
Above PKR 100,000 Up to 8x monthly net income

Note: For applicants with no prior credit history or less than 12 months of credit history, the multiple is reduced by 2x.

درکار دستاویزات

What You Need to Bring

  • Completed Application Form
  • Copy of valid CNIC / Passport (NADRA Verisys verified)
  • 2 recent passport-size photographs
  • Original Employment Letter OR Salary Slip (last month)
  • Bank Statement — last 6 months
  • 6 Undated Cheques (UDCs) in favour of BankIslami
  • Signed Customer Undertaking (declaring financing purpose)
  • Declaration of existing facilities from other banks/DFIs
  • Supporting evidence of need (e.g. hospital invoice, fee challan, loan statement)
Why Choose BankIslami?
  • Truly Shariah-Compliant — Tawarruq structure approved under AAOIFI Shariah Standards and reviewed by an independent Shariah Supervisory Board.
  • Zero Riba — No interest-based element at any stage of the transaction.
  • Late Payment Goes to Charity — Charity amounts go to a dedicated Charity Fund for approved social causes — not the bank’s income.
  • Fast Processing — Standard turnaround time of up to 3 working days post document submission.
  • No Security Required — Unsecured financing based on your income and creditworthiness.
  • Nationwide Access — Available across BankIslami branches all over Pakistan.
Frequently Asked Questions (FAQs)

Q1: Is BankIslami Personal Finance truly halal?
Yes. The product is structured on a Tawarruq framework, certified under AAOIFI Shariah Standards and approved by BankIslami’s Shariah Supervisory Board. It involves no Riba (interest) at any stage.

Q2: What is the minimum and maximum amount I can get?
You can finance as little as PKR 50,000 and up to PKR 3.0 million (Regular) or PKR 4.0 million (Prime Customers), depending on your income and credit profile.

Q3: How long do I have to pay?
You can choose a payment period from 6 months to 4 years (48 months), paid in equal monthly installments.

Q4: What if I miss a payment?
A charity amount — not a penalty or interest — is charged at 12% per annum on delayed payments. This amount is donated to approved charitable causes. A 4 (four)-working-day grace period applies before charity is charged.

Q5: Can I settle my finance early?
Yes. You may apply for early settlement at any time. Any rebate, if granted, requires prior Shariah approval and will not be pre-agreed at the time of financing.

Q6: What is the processing fee?
PKR 7,000 (exclusive of FED) — PKR 2,000 payable at application login (non-refundable), and the remaining PKR 5,000 is due after approval.

Q7: What is Tawarruq?
Tawarruq is an AAOIFI-recognized Islamic finance structure. It involves purchasing a commodity owned by the seller on deferred payment, then selling it to a third party for cash, to obtain liquidity.

Q8: Can I use this to pay off a conventional loan?
Yes. Settling conventional, Riba-based debt is one of the explicitly approved purposes for this finance facility.

Call to Action (CTA)

Ready to Finance Your Needs the Halal Way?

Apply today at your nearest BankIslami branch or speak to our team for a free consultation.

For more details, please call 111-ISLAMI (475-264)

urاردو
en_USEnglish urاردو