Murabaha, or cost-plus financing, is an Islamic finance structure where the seller and buyer agree on the asset's cost and markup. The bank reveals the cost and adds a profit margin, with the client repaying in installments. This credit sale method aligns with Sharia principles, making it a common form of financing in Islamic law.

Financing Products

  • Personal Finance is a facility designed to cover various expenses including education fees and medical bills, as well as financing for goods, electronics, home appliances, and construction materials.
  • Plot Finance is a facility aimed at enabling Somali nationals to finance the purchase of residential or mixed-use commercial plots in major cities where SomBank operates.
  • Asset Financing is designed to facilitate the purchase of long-term assets, including motor vehicles, machinery, and equipment.
  • Construction Financing This facility is designed to provide financing to individuals and businesses seeking to build their own homes, commercial premises, or expand their existing infrastructure.
  • Auto Financing is designed to finance the acquisition of new or used motor vehicles for personal use by salaried individuals or enterprises for transportation of goods & personnel.
  • Home Financing is specifically designed to finance the purchase of pre-constructed properties, such as apartments and stand-alone houses.
  • Education Financing This product offers financing solutions specifically designed to support educational pursuits, covering expenses such as tuition fees, textbooks, and other academic materials.