Banque Misr has launched a new product available at its Islamic branches which is the car murabaha finance that was designed under the supervision of Al-Azhar.
The bank offers the car murabaha finance as part of the bank’s murabaha program that caters to the needs of all segments of customers and gives competitive returns. The car murabaha finance product gives the customers the highest finance rate of murabaha amounting to 100% of the cost of the car. In addition, there are repayment facilities as the bank offers the longest repayment period of up to seven years.
The bank has taken such move in order to meet the increasing demand on Islamic banking products. Banque Misr is a leader in such sector as it was the first bank to establish Islamic banking branches in Egypt.
It is worth mentioning that Banque Misr has 33 Islamic banking branches that spread across all governorates in Egypt. These branches are connected with each other electronically and conduct their transactions under the supervision of Al-Azhar.
