About the Product
With the promise of continually providing innovative Shariah compliant products and services, EGIBL now has the solution to all your home financing needs with Albait. Albait offers you Halal house financing options, which enable you to buy, build or renovate the home of your dreams in a purely Islamic manner.

We know, as a true Muslim you hold your beliefs close to your heart. By opting for Albait you can enlighten your soul by following the teachings of the Holy Quran and give faith a home in your heart.

How does Albait work?
Albait is based on the concept of Diminishing Musharaka. Under this concept you and EGIBL enter into a partnership where you and the Bank have joint ownership in the property. As part of the agreement, EGIBL will allow usage of the property to you and you in turn agree to make monthly payments for the use of the property. You also make regular scheduled investments in the partnership to increase your share in the property. Thus, with each payment your ownership in the property grows. Once you have entirely purchased the Bank’s share in the property, you become the free and clear title owner of the house of your dreams.

Why opt for Albait?
Financing through Albait is not just Shariah compliant it is also the most convenient and flexible payment option imaginable.

Shariah Compliant product
Financing up to the maximum of  Rs. 50 million
Free property and Life Takaful
Buy, Build, Renovate and Asset transfer
Flexible tenures of 3-20 years
Early and partial purchase option
Financing for Non Resident Pakistanis
No income requirements for EGIBL Deposit holders
Easy eligibility and quick processing

What options are available to you with Albait?
Purchase an already constructed house
Purchase a plot and construct your own house
Renovate or improve your existing house
Transfer your existing house finance facility from other financial institutions to EGIBL

Eligibility criteria
Pakistani national
Age 21 – 65 years
Minimum  Net Monthly Income
   - Salaried: Rs. 35,000/-
   - Self-employed Professionals / Businessmen: Rs.70,000/-
   - Non-Resident Pakistani: Rs. 400,000/-

What are the documents to be submitted?
The completed application form along with the documents specified therein.

Is Albait a Shariah compliant product?
All EGIBL Products and Services are reviewed by our Deputy Shariah Advisor, Mufti Abdullah Siddiqui, who is associated with Dar-ul-Uloom Karachi and approved by the bank’s Shariah Advisor Justice (R) Khalil-ur-Rehman Khan, who has served as Chairman Shariat Appellate Bench of the Supreme Court of Pakistan, Rector of the International Islamic University, Islamabad, former Chief Justice of the Lahore High Court and has also been the Chairman of the Religious Board for Mudarabas. He authored the landmark judgment on Riba in 1999, on the basis of which new impetus was provided to Islamic Banking in Pakistan.

About the Product
At EGIBL, we remain devoted to providing you with a range of Shariah compliant yet highly competitive products to offer you Halal alternatives to conventional banking. We continuously strive to ensure that your financial dealings are free from Riba (interest). We understand that choosing the right vehicle is as important as the means to attain it which is why we offer you Auto Ijarah, a Riba-free option enabling you to stay on the right course with the car of your choice.

EGIBL Auto Ijarah is a product specifically designed to meet your logistic needs. Shariah Compliant and Quick Processing, EGIBL Auto Ijarah allows you to get your car quickly and in an Islamic manner.

Salient features
Available for brand new and used vehicles
No rentals before delivery of vehicle
No upfront registration charges
No upfront takaful premium
No penalty in case of total loss or theft.
No rental payment in case of total loss or theft
Quick Processing
Easy Documentation

Benefits
Rental payments can be scheduled to the customer's peculiar needs.
In case of delayed payments, the customer will pay a certain amount to a Shariah approved charity.

Islamic working principle – difference from similar conventional product
The Emirates Global Auto Ijarah is a Shariah compliant auto finance product based on the principles of Ijarah, whereby the asset is owned by the bank and the customer pays rent for its usage, just like paying rent for a house. The customer will make a 15% (minimum) security deposit along with the rental contract spreading over a period of 3, 4 or 5 years. On completion of the pre-agreed period the title of the asset maybe sold to the customer or the asset will be returned to the bank.

Eligibility criteria

List of Standard Documents that are required:

Salaried

Self Employed / Professional

About the Product
Rahnuma Travel Services is a value added product exclusively for designed customers who want reliable and trustworthy travel services to various destinations around the world. EGIBL is the one of the Islamic banks in Pakistan with such services in the market. EGIBL has joined hands with leading Travel Agents to bring an unmatched product which is not only Riba-free but also affordable and convenient.  The product offers complete travel services for various destinations i.e. Umrah, and Dream Destinations (Dubai, Malaysia, Turkey and Egypt).

Salient features
0% additional profit on financing
Easy installment plan of 6 and 12 months
No prepayment penalty
No Hidden Charges
No Security deposit
Easy documentation
Quick Processing

Benefits
EGIBL is the one of the pioneering banks in the Travel Services. 
No Premium on package costs.
Easy payment options
Shariah Compliant & Riba-free.

Islamic working principle – difference from similar conventional product
Rahnuma Travel Services work on the Islamic Principle of “KHADAMAAT” where bank provides travel services to the customers through a designated travel agent(s). The product has been reviewed by our Deputy Shariah Advisor Mufti Abdullah Siddiqui, who is associated with Dar-ul-uloom Karachi and approved by the bank’s Shariah Advisor Justice (R) Khailil-ur-Rehman Khan, who has served as Chairman Shariat Appellate Bench of the Supreme Court of Pakistan, Rector of the International Islamic University, Islamabad, former Chief Justice of the Lahore High Court and has also been the Chairman of the Religious Board for Mudarabas. He authored the landmark judgment on Riba in 1999, on the basis of which new impetus was provided to Islamic Banking in Pakistan.

Eligibility criteria
Rahnuma is designed for both Salaried & Self Employed Businessmen and Professionals. Details are as under:

List of standard documents that are required:

Documents required for travel:

Additional Documents required (if financing required - Salaried):

Additional Documents required (if financing required – Businessmen / Professionals):

Packages:

Rahnuma Umrah	Rahnuma Dream Destinations
Umrah Packages: Umrah Ramadan Budget Package Hajj Packages: Umrah Hajj Package Umrah Hajj Itinerary	Dream Destination Packages: Dubai Package Malaysia Package  Rahnuma Domestic package: Rahnuma Kaghan Valley Tour

About the Product
Sarparast - Family Takaful Plan is a Shari’ah compliant savings and investment product exclusively designed to cater to customer security. EGIBL has joined hands with Pak Qatar Family Takaful Co. to introduce Sarparast to its customers.

As an individual you have dreams and aspirations and you make plans for the future. There are two elements by which you can work to make your plans into reality. One is by saving and the other by utilizing risk mitigation tools so that in the case of any unforeseen scenario your family is able to carry out your dreams as you had planned to. For both of these you have EGIBL’s Sarparast - Family Takaful Plan to help you.

What is Takaful?
Takaful is an Islamic insurance concept which is grounded in Islamic muamalat, and has been practised in various forms for over 1400 years.

Takaful comes from the Arabic word ‘Kafala’ – to guarantee. Takaful is not only a tool to mitigate loss or to make Halal profits; it is an ideology which promotes:

Solidarity and joint guarantee
Self reliance and self sustainability for community well being
Assistance to the needy
Community pooling system

Product Features
Saving for long term requirements (child education, purchase of property, retirement, marriage, etc.)
Regular contributions are invested in a diversified portfolio of Islamic funds ranging from Sukuk to Mutual Funds
Flexible payment plan
Takaful cover allows family to receive funds in case of death of the participant.

Benefits
Access to a wider range of Shari’ah Compliant financial products and services
No need for further documents except Customer ID card
No need for medical exams (conditions apply)
No need to wait for manual verification
Total sales process takes 30 minutes
Customer Service Available 24/7 at your nearest EGIBL branch or EGIBL Phone Banking
Transparent terms, conditions and charging structure

Additional Benefits
Contribution increase and decrease*
Switching of Investment Strategies*
Partial Withdrawal*
Payment Deferral*

How to apply
Anyone who is 18 - 60 years of age can apply for the product and walk away with the Takaful Certificate within 30 minutes. All you need to do is:

Open a current or saving account with EGIBL; if you don’t have one
Design a Takaful Plan of your own
Submit your CNIC
Fill in our automated application form and receive the takaful Certificate at-the- spot