Branch Network

(EGIBL branches are available in the following cities and towns)

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Karachi
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Islamabad
A L B A I T
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Rawalpindi HOME FINANCE
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Lahore
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Gujranwala
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Sargodha
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Kamonki
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Daska
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Faisalabad
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Bahawalpur
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Peshawar
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Quetta
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Hyderabad
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Sialkot
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Nowshera
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Multan
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Nawabshah
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Sukkur
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Badin
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Mirpurkhas
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Sanghar
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Vehari
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Khaniwal
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Arifwala
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Hafizabad
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Jaranwala
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Swabi
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Mansehra
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Rahim Yar Khan
111-113-442 www.egibl.com
AL BAIT
With the promise of continually providing innovative Shariah compliant
products and services, Emirates Global Islamic Bank has now the solution
to all your home financing needs with Al bait. Al bait offers 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 Al bait you can enlighten your soul by following the teaching
of Holy Quran and give faith a home in your heart.
How does Al bait work?
Al bait is based on the concept of Diminishing Musharakah. Under this
concept, you and Emirates Global Islamic Bank enter into a partnership
where you and the Bank have joint ownership in the property. As part
of the agreement, Emirates Global Islamic Bank allows you to use the
property and in return you 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 purchased the Bank’s
entire share in the property, you become free and clear title owner of
the house of your dreams.
Why Opt for Al bait?
Financing through Al bait is not just Shariah Compliant it is also possibly
the most convenient and flexible payment option imaginable.
● 100% Riba-free
● Free fire and life takaful
● Financing up to Rs. 50 million
● Financing tenures range from 3 to 20 years
● Flexible monthly installments
● Early and partial payment option
● Quick processing
What are the options available with Al bait?
● 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 Emirates Global Islamic Bank
How do you become eligible?
● Pakistani national
● Age 21 - 65 years
● Minimum net monthly
i) Salaried: Rs. 35,000/-
ii) Self-employed Professionals / Businessmen: Rs.70,000/-
iii) Non-Resident Pakistani: Rs. 400,000/-
Al bait for Non Resident Pakistanis
With Al bait, now Non Resident Pakistanis (NRPs) can also own their
dream house. Below are the details:
● Age 25 - 60 years
● Financing up to Rs. 50 million
● Available for salaried individuals only
● Gross monthly income equivalent to Rs. 400,000/-
● At least 2 years of regular work experience.
● Financing tenures from 3 to 10 years
● Clubbing of income is allowed
Al Bait for EGIBL account holders
Al Bait is available for the account holders on flexible terms and attractive
features. Below are the details:
● No minimum length of relationship with the bank is required
● No income requirements
● Financing up to 90% of the deposit with EGIBL
What are the documents to be submitted?
The completed application form along with the documents specified
therein.
Shariah Committee:
Emirates Global Islamic Bank products and services are approved by
the bank’s Shariah Committee comprised of renowned Shariah Scholars.
Justice (R) Khalil-ur- Rehman Khan is Shariah Advisor of the Bank
and he has served as Chairman Shariat Appellate Bench of the Supreme
Court of Pakistan. He was the Chief Justice of Lahore High Court and
also been the Chairman of the Religious Board for Mudarabas. He
authored in 1999, the new impetus on Riba free decisions which were
provided to Islamic Banking in Pakistan.
Mufti Abdullah Najeebul Haq Siddiqi is Deputy Shariah Advisor for
Emirates Global Islamic Bank. He is associated with Dar-ul-uloom
Karachi and has specialized in Islamic Fiqah and Fatawa. He graduated
from Darul-ul-uloom Karachi as Aalim-e-Deen and has obtained
certification in Islamic Banking, Finance and Economics from the Centre
for Islamic Economics.
For further information and assistance, please visit the nearest
EGIBL branch or log on to our website at www.egibl.com or just
call 111-113-442.