Local Al Tawaruq Al Mubarak from arab national bank provides you with Shariah compliant finance, pre-approved by arab national bank's Shariah Compliance Committee, comprising of the reputed scholars, Sheikh Abdullah Al Mane'a, Sheikh Dr. Saleh Al Meziad and Sheikh Dr. Mohammed El Gari.

With Local Al Tawaruq Al Mubarak, the customer obtains finance in an easy, comfortable manner.

This is how the system works:

• The Customer purchases a local commodity owned by arab national bank.
• After conclusion of the transaction, the Customer will be issued an Ownership Certificate as evidence transfer title from the Bank to the Customer who can either collect the commodity or authorize Abdul Latif & Mohammed Al Fozan Company to sell it on his behalf.
• During the Certificate validity period, the Customer will either pick up the commodity or sell it through a branch of Abdul Latif & Mohammed Al Fozan Company.

Benefits

• Shariah Compliant
• Facilities up to 1,000,000 SARPackage Account.
• Competitive Margin Profit
• Easy installments up to 60 months.
• Installment payments start after 3 months.
• Easy and fast procedures.
• Refinancing after settling 15% of the outstanding amount.
• Waiver of outstanding installments in case of death - God forbids.

Qualification Criteria

• Employees are eligible for the Local Al Tawaruq Al Mubarak when salary is transferred to anb with the Introduction Letter.
• Minimum Salary (As per anb’s regulations)
  • Government Employees as of SAR 2,300
  • Private Sector Employees as of SAR 2,500
  • Pensioners as of SAR 1,750
• Minimum years of service (As per anb’s regulations)

Documents Required:

• Letter of Introduction from the employer to include salary details, current position and years of service.
• Salary transfer letter through SARIE endorsed by the employer.
• Valid Saudi ID Card/Iqama.
• Latest Statement of Account for none salary transferred applicants.
• Signed Money Order.
• • Completed and signed Local Al Tawaruq Al Mubarak application form.

To apply for Local Al Tawaruq Al Mubarak please:

• Contact anb Phone Banking at 800 124 4141.
• Visit your nearest arab national bank branch