Sber launched an Islamic mortgage program in two regions – Kommersant
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PJSC Sberbank (MOEX:SBER) launched a pilot program “Mortgages Murabaha” according to Shariah standards in Dagestan and Bashkortostan. According to the terms of the contract, the cost of real estate is indicated with a markup in installments without paying interest, reports press service companies.
In the Republic of Bashkortostan, you can use the Murabaha Mortgage for primary and secondary housing, in Dagestan – only for primary housing. Islamic mortgage is available from 300 thousand to 100 million rubles. for a period of up to 20 years with an initial payment of 30%. It is noted that the mortgage program complies with the standards of the Organization of Accounting and Auditing of Islamic Organizations.
“Mortgage Murabaha will be available to all citizens of the Russian Federation, regardless of their religion, which makes it attractive to a wide range of our clients,” emphasized Oleg Ganeev, senior vice president of the company.
Read more about Sberbank’s activities to raise funds in accordance with Shariah standards in the material “Sberbank has become even greener”.
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