Local Al Tawaruq Al Mubarak :

Local Al Tawaruq Al Mubarak from arab national bank provides you with Sha'ria compliant finance, pre-approved by arab national bank's Sha'ria 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 Mutawariq (Customer) purchases a local commodity owned by arab national bank.
- After conclusion of the transaction, the Customer will be issued an Ownership Certificate to 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.
- Arab national bank cooperates with Abdul Latif & Mohammed Al Fozan Company, a leading construction materials supplier with 45 branches spanning the Kingdom, to streamline Local Al Tawaruq Al Mubarak transactions for its Customers.

Local Al Tawaruq Al Mubarak Finance Benefits

Finance through purchase and sale transactions involving local commodities. The Customer owns the local commodity and freely disposes of it either through collection or resale for cash.

- Finance of up to SR 1,000,000.
- Enjoyment of a full suite of Sha'ria compliant banking services through Al Hesab Al Mubarak Package Account.
- Top-up facility.
- No penalty is charged on early pay offs.
- Easy and fast procedures.
- Waiver of outstanding installments in case of death - God forbids.

Qualification Criteria

- If you are employed in the government service, or with a leading private organization, and have completed at least 3 Months to one year in your current job.
- If your gross salary is at least SR 3,000 for government sector employees and SR 4,000 for private sector employees.
- Age 20 years or more .

then you are qualified for Local Al Tawaruq Al Mubarak Finance from arab national bank.

Local Al Tawaruq Al Mubarak Documentation Requirements:

- Introduction letter 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.
- Completed and signed Local Al Tawaruq Al Mubarak application form.
- Signed promissory note.

To apply for Local Al Tawaruq Al Mubarak please:

- Contact Hatif Al-Arabi toll-free at 800 124 4141.
- Apply online by filling the Online application please click here.
- Contact our sales executives to arrange a visit
- Visit your nearest arab national bank branch