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This financing is based on the contract of Bai' Al-Istisna. Bai' Al-Istisna refers to a sale by order of good / property, which is to be constructed / manufactured, and delivered at a specified future date.

Under this contract, the Customer will request and the Bank will agree to construct and to sell the project to be constructed at the Bank's selling price (cost plus profit margin) on deferred payment terms and thereafter the Bank will request another party (contractor) to construct the project and the Bank will purchase the project to be constructed at the Bank's purchase price (cost price / facility amount). The payment of the Bank's selling price may be paid in full or by way of progressive payment as the case may be. Upon completion, the contractor will handover the project to the Bank or the Bank will authorize the contractor to deliver the project directly to customer.


The selling price is fixedand agreed by both parties; i.e. Customer and the Bank will remain unchanged until the end of the payment period;
Periodical instalments (monthly / quarterly / half yearly) are determined by the selling price and the payment period;
The property ownership purchased will be under the Bank's claim and will be handed over to the Customer upon full payment.

Enable the Customer to plan their cashflow since monthly payment is fixed throughout the financing period;
Payment period up to 15 years;
The Customer is covered by the Takaful Mortgage Plan.

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