INDIVIDUAL HOUSING LOAN

WHO CAN BENEFIT FROM THE LOAN? UNDER WHAT CONDITIONS?

• Micro-entrepreneurs with or without a premises*.
• Employees with permanent contracts, earning less than the minimum guaranteed interprofessional wage (Smig)**.
• Public sector employees with permanent contracts.
• Parking attendants who are recognized and own their place of residence.
• Landlords whose main source of income is rent.
• Rentiers whose main source of income is a pension or their spouse’s pension.

_{(*) The client without a premises must own their residence (or their spouse’s) or have the property owner’s permission to reside there.}

_{(**) Minimum guaranteed interprofessional wage.}

WHAT ARE THE CONDITIONS?

• The client must be the head of their household or recognized as such by other members of the household.
• Must have an Hissab Bikhir account.

FOR WHAT PURPOSES?

Would you like to acquire, build, or improve your housing, or connect electrical installations and ensure a water supply?

• Improve or beautify an existing home: Works aimed at making the home more habitable and decent (e.g., painting, plumbing, carpentry, tiling, flooring, wall coverings, ironwork, etc.).
• Renovation works: The client must have authorization and the decision for the works if required by law.
• Connecting to electricity and/or water supply.
• Acquire housing: Advance payment for the purchase of a property. The client must have the sale contract and/or the sales agreement or other supporting documents, such as receipts of advance payment or registration.
• Build basic housing: Loans are granted in stages according to construction phases. The client must have the construction permit.
• Acquire a plot of land: The client must have the title of ownership or any document that shows their real rights over the lot.

LOAN AMOUNTS & REPAYMENT FREQUENCY:

• Loan amounts range from 1,000 to 48,000 dirhams.
• Repayment frequency: Bi-monthly or monthly depending on the case.

REPAYMENT MODE & DURATION:

• Repayment is made in cash to Al Amana over a period of 6 months to 7 years.
• The loan disbursement is mandatory on the Hissab Bikhir account.

INDIVIDUAL BUSINESS LOAN

WHO CAN BENEFIT FROM THE LOAN & UNDER WHAT CONDITIONS?

This loan is intended for micro-entrepreneurs with a fixed location, ambulatory vendors with organized movements, taxi drivers, and farmers.

Conditions:

• Must have an Hissab Bikhir account.
• Must be the owner and manager of their business. Activities managed by partners make the client ineligible for Al Amana's loan.
• Must have a fixed location (house or premises); this condition does not apply to taxi drivers and ambulatory vendors with organized movements.

_{(*) The client without a premises must own their residence (or their spouse’s) or have the property owner’s permission to reside there.}

_{(**) Minimum guaranteed interprofessional wage.}

FOR WHAT PURPOSES?

Financing of a commercial premises:

• The purchase or construction of a new commercial premises, warehouse, or office for commercial, service, or industrial use.
• The renovation of a new commercial premises.
• The purchase of a business. Advance for the purchase of a business or the construction/renovation of a new commercial premises, warehouse, office, or production workshop.
• Financing of associated costs related to owning a new commercial premises: Notary fees and/or registration fees.

LOAN AMOUNTS & REPAYMENT FREQUENCY:

• Loan amounts range from 1,000 to 48,000 dirhams.
• Repayment frequency: Bi-monthly or monthly depending on the case.

REPAYMENT MODE & DURATION:

Repayment is made in cash to Al Amana, over a period of 6 months to 4 years.