Riyad Bank is one of the oldest banks in Saudi Arabia and offers a wide range of banking solutions to meet customer requirements. Riyad Bank offers personal financing to Saudi and non-Saudi countries. Awadi and non-Saudi Riyals with a payback period of up to 48 months for residents and Saudi Bank. The Bank has many benefits for its private financial customers under the Islamic Shari'a Act and easy-to-use programs for public employees and retirees with a small profit margin. Choose personal finance systems between the securitization system and Murabaha.
Riyan's personal financial systems
The first is the tawarruq system : – The Tawarruq system is based on a simple idea and has one of the Bank's own goods and then the other party sells it under the power of attorney under the Islamic Sharia badge and when the sale is completed to the seller's sales amount to your bank account is a method that is fully proportional to the Islamic law provisions, up to 70 years of age is also suitable for government employees in the state, whose yield falls by 4.23 per cent, for the sake of death, the heirs are released from payment and the debt is increased, the repayment period is 60 months, which is excellent for repayment of debt.
Financial Accounting Service provided by Riyad Bank
Secondly, the Murabaha system for personal financial indebtedness
The Murabaha system is based on the purchase of shares through a bank as a financial intermediary and after the purchase, which is a simple predetermined reward. The bank gives you either an option to sell your inventory and put the sales volume on your current bank account or transfer the shares to the investment portfolio, which should be fully aware of how co-operation is not recommended for beginners.
Features of the Murabaha system
- The repayment period is up to 60 months.
- Simple profit margin.
- In the event of death, heirs will be released from other debt.
- The decreasing yield was 4.23%.
- Suitable for pensioners aged 70 years.