Wealth Management SIB Academy

Personal Finance Application

Sharjah Islamic Bank is dedicated to providing all types of customers with premium banking products and services. We are committed to fair and honest banking, operating in a transparent and ethical manner throughout all of our operations. All of our products and services are shaped in accordance with Sharia’a principles, morals and ethics.

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CUSTOMER PROFILE:

Required Murabaha / Ijarah for :

* Customer Should have an account with SIFS/DFM/ADX.if.not.customer should apply for the same

PERSONAL DETAILS :

Residence in the UAE

PERMANENT ADDRESS IN HOME COUNTRY

REFERENCE CONTACT DETAILS IN THE UAE

Occupation / Employment Details

Financial Details

Sharjah Islamic Bank Relationship Details

Currently Do you have any Finance from SIB?

Other Banking Relationships

Cards (1)

Cards (2)

Cards (3)

Other Liabilities

Finance Type Source / Bank Amount Outstanding Monthly Installment
Personal Finance / Loan
Car Finance
Employer loan
Others

Required Finance Details

If you are availing Goods Finance, please fill and sign the below "Promise to Purchase"

I / We hereby undertake to purchase the Goods set out herein above by the way of Murabaha Sale after being purchased and possessed by the bank in consideration of a selling price comprises of :

a- the cost paid by the bank “the cost” which include the (i) purchase price of AED . (ii) the actual expenses of AED .incurred by the bank pertaining the purchase of the goods .

b- the profit agreed upon is AED at the rate of %

I/We hereby also acknowledge that by signing this “Promise To Purchase”, I/We have accepted the "the cost" declared by the bank at the time of signing of the Murabaha Sales Contract.

In addition , I/We acknowledge and undertake as follows:

1. To pay the remaining balance of the price in monthly installments, No. of___installments (only as Hamish Jeddyia (guarantee amount) upon bank’s request, in cash or by debiting my/our account No with SIB, and that the same will be adjusted in the selling price

2. To pay the remaining balance of the selling price in monthly installments

3. In case of my/ our failure to fulfill our promise after the bank purchase and possession to the Goods subject to this promise, I/We shall bear all the losses incurred by the bank, and the bank shall claim the difference from me/us if Hamish Al-Jeddyia or my/our account balance doesn’t cover the losses incurred by the bank (if any).

4. In case of my / our refusal to sign the Murabaha Sale contract, the bank has the right to sell the Goods at the market value and deduct the difference (if any) from Hamish Al-Jeddiya amount or from my/our account with the bank and I/We agree that the bank may claim compensation for the actual damage incurred by the bank as a result of our breach.

5. If I/We signed the Murabaha Sale Contract, yet refused to receive the goods, I/We authorize the bank to sell the same on our behalf to recover "the cost" and claim the difference, if any, in cash or by debiting my/our account and to return the surplus (if any).

If you are availing Service Ijarah, please fill and sign the below "Promise to Lease":

I / We hereby undertake to lease the services defined herein above under a sub-Lease Contract after the same being leased by the bank from its service provider, that will be in consideration of AED . being an agreed upon rental value I/We hereby acknowledge that by signing this “Promise to Lease”, I/We have accepted the rental value offered by the bank at the time of signing of the Sub-lease Contract referred to hereinabove.

In addition , I/We acknowledge and undertake as follows:

To pay the remaining balance of the price in monthly installments, No. of___installments (only as advance rental if required by the bank's, in cash or by debiting my/our account No. with SIB.

2. To pay the remaining balance of the rental in monthly installments

3. In case of my/ our failure to fulfill our promise after the bank leases services subject to this promise, I/We shall bear all the loss incurred by the bank and resulted from the bank lease to the asset based on my/our “Promise to Lease”, and the bank shall claim any loss incurred by it from me/us if the advance rentals or my/our account balance doesn’t cover the loss incurred by the bank (if any).

4. In case of my / our refusal to sign the sub-lease contract, the bank has the right to lease the services at market value and deduct the difference (if any) from advance rental amount or from my/our account with the bank and I/We agree that the bank may claim compensation for the actual damage incurred by the bank as a result of our breach .

5. If I/We signed the sub-Lease Contract and refused to receive subject of contract, I/We authorize the bank to lease the same on our behalf to recover their expenses, loss, etc incurred by the bank, and claim the difference, if any, in cash or by debiting my/our account and to return the excess (if any) to me/us.

Applicant Declaration & Signature

I / We the Applicant undertake and agree on the following:

1. That the information given in this application is true and correct and I hereby authorize Sharjah Islamic Bank to verify from whatever source it may consider appropriate any information contained in this application.

2. That the supporting documents are correct and shall become part of the Bank’s records and shall not be returned to me

3. The Bank is entitled in its absolute discretion to accept or reject this application

4. To abide by the rules & procedures of the finance

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