Need a new laptop, an LCD TV, a new bedroom, or a home renovation? Whatever is your need, with the Lebanese Islamic Bank; you can buy and acquire a variety of goods thanks to its consumer goods finance scheme.
The Lebanese Islamic Bank S.A.L., the first licensed Islamic Bank in Lebanon, offers you consumer goods finance program in conformity with Islamic law (Sharia).
Based on the Islamic finance concept of Murabaha; instead of lending you money and charging you with interest; LIB purchases the desired product from the seller, after receipt of an offer or pro-forma invoice and then re-sells it to you, at a predetermined and competitive price, which includes bank's profit. In return, you reimburse the total amount over agreed upon monthly installments.
Interest Rate: No Interest
Maximum Loan Amount: Up to USD 15,000
Minimum Monthly Income: USD 500
Career Status: Employed or self employed for at least 1 year