Islamic Investment & Finance
Cooperatives Group

Employees SCFA

Employees Shariah Compliant Financing Advances (SCFA)

Description Features of the Product
Type of financing It is a financial assistance extended to Monthly Salaried Employees of both Government and established private companies. Employees can use the loans to provide investment to their family members to start or expand their businesses, invest in agriculture activities, invest in service sector and for investing in education, house repair etc.
Target area Rural and Urban Market
Market segments Employees of both Government and established private companies with monthly salary income or other regular income from other sources.
Age of Client at the time of loan 18 – 65 years
Service charges rate As per policy of IIFC Group
Murabaha loan period 6 to 18 months
Loan size 35% of annual Salary

Or for salary plus other income AFN. 10,000 to AFN. 200,000 depending on the repayment capacity

Frequency of installment 6 to 18 months equal monthly installments
Lending methodology Individual loan
Collateral type
  • Social collateral – guarantee of family head and two shopkeepers
  • For female client – Family head acceptable
  • Agreement letter from organization
  • Real estate mortgage (Title deed)

Or the amount can be secured by Jewelries for no more requirements.

Identification source Cop of Tazkira (NID) and a recent photo of client and guarantors
Purpose of Murabaha loan Expansion of business in small trade, manufacture and services
Previous experience Basic knowledge about the proposed business activity
Physical verification Client’s residence and business

Shura Khat / Wakil Guzar verification or electricity bill of house

Cash flow assessment By Loan Officer in the field

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