Financing the production and development of livestock by Islamic Murabaha
Individuals and legal persons-
Finance secured by savings schemes-
The scope of project implementation
– The finance is granted to customers throughout the Republic through all Islamic branches
Value of finance
Small- scale breeders – Maximum amount of finance is EGP 150,000.00
Medium- scale breeders – Maximum amount of finance is EGP 500,000.00
Senior – scale breeders – Maximum amount of finance is (According to the credit study)
: Finance terms
:The finance term ranges from 6 to 60 months according to the nature of the project as follows
|Fattening male ( Cows – Buffalo – Sheep – Goats)||6 -month financing|
|Fattening male camels||12- month financing|
|Artificial insemination||12- month financing|
|Milk production||60- month financing|
|Production of buffalo and cows||60- month financing|
|Production of sheep and goats||24 -month financing|
:Method of payment
|Fattening of males (cows – buffalo – sheep – goats)||One payment|
|Fattening of male camels||One payment|
|Artificial insemination||One payment|
|Production of buffalo and cows||Semi-annually including a grace period of 6 months|
|Production of sheep and goats||Semi-annually including a grace period of 6 months|
:(Simple) Interest rates and down payment
|Project 1||Return (simple)||Down payment|
|Fattening of males (cows – buffalos – sheep – goats)||17.5%||20%|
|Fattening of male camels||17.5%||20%|
|Production of buffalo and cows||19.5%||30%|
|Production of sheep and goats||18%||30%|
– A copy of the valid national ID.
– A recent facilities receipt (electricity – water – gas).
– A document proving holding or ownership of the land.
– An actual inspection report by official bodies such as (veterinary authority – animal production department …etc.)
– Administrative expenses shall be collected (2% of the financial value to be collected once at granting finance which shall be the value of actual expenses as a minimum).
(In the case of contracting with grand companies or cooperation protocols with other bodies, the advance payment and interest rates shall be modified and determined (the interest rate shall be determined by the pricing committee in the Islamic sector and submitted to the treasury sector) to be compatible with the controls and procedures of granting Murphy).