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Dubai Islamic Bank Pakistan Limited
Dubai Islamic Bank Pakistan Limited has always endeavored to provide innovative financial products and services to our valued customers through our growing network of over 243 locations across 62 cities in Pakistan. DIBPL continues to reaffirm its commitment of World Class Banking expertise with the largest Shari’ah compliant product suite in Retail, Corporate, Consumer, Trade, Commercial, Treasury and Investment Banking services across Pakistan.
Dubai Islamic – Consumer Durable Finance
DIBPL as a symbol of innovative approach, had introduced Consumer Durable Finance (CDF) in 2013-14 to offer a Shariah complaint way for its consumers to purchase Home Appliances, Furniture, Bikes, Solar Panels, Cell-Phones, and Generators etc. on easy monthly installments.
In line with this framework and with firm Shari’ah compliance DIBPL practices Islamic Finance in its true letter and spirit. The very name DIBPL has come to signify innovation, financial dynamism, leadership and above all a complete assurance that all the transactions are free from Riba (Interest). Our team of professional Relationship Managers has a sole agenda to help you capitalize on every financial opportunity, and explore new avenues of investment.
Product Structure
The Consumer Durable Finance product is based on the concept of Musawamah (a bargaining sale without disclosing or referring to what the cost price is).
Key Features
- Sale Transaction in Shariah complaint/ Riba free manner
- Flexible tenor from 6 months to 36 months
- Affordable equal monthly installments
- Zero Down Payment
- Financing upto 30,000 to 2 Million
- Minimum documents required
How It Works
- The Customer will approach the Bank to purchase consumer product like Home Appliances, Furniture, Bikes, Solar Panels, Cell-Phones, and Generators etc. through Consumer Durable Finance Facility.
- After the required credit approvals, the Bank will purchase specified goods from a merchant on spot payment basis.
- The goods will be identified i.e. specification and model by the merchant.
- The Bank, after getting the possession of the goods through Delivery Order, will sell the goods to Customer on deferred payment basis.
- Customer will be issued Delivery Order/ Challan, enabling them to take physical delivery of goods/ asset from merchant.
- Special Sharia Controls have been added to ensure Sharia compliance of the product at various stages.
Eligibility
Age Criteria
- Minimum Age = 21 years
- Maximum Age = 60 years>
Who can apply for Personal Finance Facility?
- Salaried Individual
In how many cities is this Facility Available?
- Currently the product is being offered in Karachi, Lahore, Islamabad, Rawalpindi, Faisalabad along with following cities.
| Central Punjab | North | South | South Punjab |
| Gujranwala | Abbotabad | Hyderabad | Multan |
| Sialkot | Jehlum | Nawabshah | Sahiwal |
| Okara | Muzaffarabad | Mirpurkhas | Sargodha |
| Sheikhupura | Peshawar | Sukkur | Bahawalpur |
| Gujrat | Haripur | Quetta | Rahim Yar Khan |
| Kasur | Mirpur | Tando Allahyar | Burewala |
| Pattoki | Dadyal | Jhang | |
| Muridke | Chakwal | Toba Tek Singh | |
| Attock |
Income Criteria
- Salaried – Prime Customers : PKR 250,000 Gross / month
- Salaried – Known Company A & B Employees : PKR 30,000 Gross / month
- Salaried – Unknown Company Employees : PKR 35,000 Gross / month
- Salaried – Government Employees : PKR 30,000 Gross / month
- Salaried – Armed Forces Employees : PKR 30,000 Gross / month
- Salaried – Contractual (Known Company A & B Companies): PKR 40,000 Gross / month
