“We believe society needs a fair and equitable financial system: one which rewards effort and contributes to the development of the community”

Elaf Islamic Bank

Financing

We are proud to offer you fully Shariah-compliant finance at the earliest

MISSION

To meet the financial needs of communities across the world by conducting business ethically in accordance with our beliefs, practicing the highest professional standards and sharing the mutual benefits with the customers, staff and shareholders who participate in our business success

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Employ with 5 years of experience​
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Branches​
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Province​

Take advantage of our prestigious, Shariah-compliant, Elaf Islamic Bank MasterCard or Visacard and their truly exceptional wealth of benefits. Indulge in a diverse range of privileges; such as exclusive services, extended warranties, and enhanced purchased protection.

Mortgage Financing is available. We are offering three initial designs which are fully customizable to match your budget and taste. Alternatively we can work along with you and prepare personalised house drawings for you (at a cost), or if you have your own approved drawings we can also do the construction for you.

Elaf Islamic Bank is a prominent player in the Corporate Banking markets

offering customized Shari’ah-compliant financial solutions designed to meet the changing needs of our customers.  Our focus is on creating practical, workable and   cost-effective solutions that adhere to Shari’ah guidelines for you.  As your partner, we ensure to deliver only the best results with speed, flexibility, and utmost personal attention.  We strive to meet your needs, while at the same time, staying committed to the highest ethical standards.  Our Corporate Banking team takes great pride in providing you with invaluable services and advice.  We deliver industry insights and customized solutions to create a banking relationship you can trust to take your business forward.

Corporate Banking

Murabaha

Murabaha is a contract of sale in which the price of the goods that includes an agreed profit margin is specified.  Murabaha can be used to finance trading in imported goods or those bought from the local market. The goods will not be purchased except after the customer has identified the specific goods or products it wants and the supplier. The bank will then confirm the deal to the customer including the price which includes the profit element.

Musharaka

Musharaka is a partnership in which Elaf Islamic Bank participates in financing new or existing projects and shares the capital and returns. 

Alternatively, the bank may contribute to the ownership of specified assets on a permanent or a non-permanent basis provided that the profit is shared in accordance with an agreement between the bank and the customer.

Istisna'a

Istisna’a is a sales contract of specified items to be manufactured or constructed with an obligation on the part of the manufacturer or builder (contractor) to deliver them to the customer upon completion.

“Elaf Islamic bank

The increase in Investment and financing

2 billion IQD​ in 2001
1.3%
8 billion IQD​ in 2007
5.2%
20 billion IQD​ in 2009
13.1%
50 billion IQD​ in 2010
32.8%
100 billion IQD​ in 2011
65.7%
152 billion IQD​ in 2012
100%
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Corporate Banking
Our focus is on creating practical, workable and cost-effective solutions that adhere to Shari’ah guidelines for you.
Corporate Banking