This product is an equity participation contract under which GIIBIC and its client contribute jointly to finance an enterprise. Equity is owned according to each party’s share in financing. Profit is shared in pre-agreed ratio and loss in proportion to the capital contribution. This product is meant for financing small and medium enterprises, mostly market women, and traders.
GIIBIC acquire an item at the request of a client; and then sell that item to the client at a price that includes the cost price plus some agreed amount of profit. The client will then pay GIIBIC for the item in an agreed manner, either in one lump sum immediately at the time of purchase or pay the bank in an installments basis. This transaction can be financed based on quotations from a suppliers and customer completing bank’s application form. GHICCU Muraabaha will be used to finance:
This product is designed for GIIBIC clients to enjoy and benefit usufruct rights of GIIBIC asset at an agreed upon price (rent) and for agreed upon time (lease term). Ijaara will be used to finance:
Learn More
GIIBIC under Hiwalah will be transferring funds from depositor’s account to a receiver’s account and then charge commission for this service rendered.
