Jameel Finance, renowned for its cutting-edge financing services and solutions, has announced the launch of Murabha, a new financing program designed to facilitate car ownership for individuals through a Sharia-compliant financing mechanism. This initiative reflects Jameel Finance’s commitment to offering innovative and modern solutions with Islamic finance principles.
Under this model, Jameel Finance purchases the vehicle selected by the customer and then sells it to them at a price that includes the purchase cost plus a pre-agreed profit margin. This approach ensures full transparency and strengthens trust between both parties.
Siraj Badqil, CEO and Managing Director of Jameel Finance, Egypt, said: “The Murabha program represents a significant step in our expansion strategy to grow our customer base and strengthen our position as a trusted financial partner in the Egyptian market. We are committed to providing innovative financing solutions that meet the diverse needs and aspirations of our customers.”
The Murabha program marks the beginning of a series of Sharia-compliant financing solutions that will be offered by Jameel Finance alongside its conventional products. Through this initiative, Jameel Finance will provide customers with a wider range of options, enhancing their overall experience, and contributing to their economic development and financial stability.
The program covers financing for both new and used cars, including electric vehicles, with amounts of up to EGP five million and flexible repayment periods of up to 60 months without an administrative fee.
