SIB usually tailors products that fit clients’ lifestyles and make their banking experience more meaningful and innovative. SIB is always there to serve its clients. Therefore, we are pleased to serve you through the Salary Package for your staff that enables you to pay salaries through SIB. In addition to execute salary payments, your staff are then entitled to the services and advantages provided by the bank. SIB is committed to provide innovative and Sharia Compliant services. This commitment is based on high ethics, transparency and integrity. In SIB, we believe that each client, regardless the volume of business, is our partner and our success is based on joint efforts.

The advantages of this service provide many advantages that can be summarized in the following terms : 


SIB offers the services that meet your employees’ needs

  • ATM
  • Debit Cards
  • Credit Cards
  • Websurfer Card
  • SMS Services
  • Internet Banking

    Unhappy with your home furniture and want to replace it? Planning to purchase latest technological products? Do you want to change your lifestyle? We will buy you all your needs from the stores you name. We are here for you. This program finances items including:

    -             Furniture

    -             Equipment

    -             Electronics

    -             Boats

    -             Lap Tops

    -             Building Martials

    -             Machines

    -             Others, if Sharia Compliant

      Personal Loans extended to employees to purchase:

      • House
      • Apartment
      • Land
      • Cars
      • Advantages:

        • Low cost of finance
        • Monthly Installments are engineered to fit the employee’s income.
        • Clients are free to choose their supplier
        • Reasonable tenor and rate
        • Life insurance for borrowers during the finance tenor

      It is the most recent product by SIB. It is aimed at making it easy for the people to have their dream home and ensure life stability

      • Islamic Ijarah muntahia bittamleek Finance
      • Asset financed is the collateral and No further collaterals
      • Affordable cost of finance
      • Comfortable Repayment Schedule and monthly installment exceeding not 45% of the worker’s income
      • Long term tenor up to 5 years
      • Clients are permitted to purchase from any market including SIB residential Units
      • Clients Targeted:

        • Public sector workers
        • Professionals
        • Expatriates

      A Murabaha finance is tailored to facilitate purchasing cars in exchange of monthly installments according to the following terms:

      • A supplier Quotation under the name of SIB
      • Cars should be not more than 5-years old
      • Borrower’s salary should be fully arranged to SIB
      • A collateral in the form of (Commercial, Deposit or gold)
      • Providing a 100% insurance policy in the name of SIB valid over the finance tenor
      • Advance Payment equals to 15% of the car value
      • Maximum repayment period should not exceed 36 months

        Subscription is arranged by applying to SIB Salary Program

        • Documents:

          • Employer’s Official signed and sealed request to subscribe to the service
          • List of employees names
          • Copies of valid IDs sealed as copy the original

          Upon receiving said documents, SIB representative will pay visit the premises of the employer to execute Salary Payment Agreement. Then KYC and account procedures will be arranged at the bank.

        • Finance Security

          • It is stipulated in the Salary Payment Agreement that an employee’s salary should be transferred to SIB and no Employee is given a clearance before fully cleared by the Bank
          • Two further guarantees form coworkers. (terms on borrower worker applies on guarantor worker too)
          • In case of real estate finance, the asset financed will be registered as a collateral and it should be technically and legally sound
          • An employee cannot guarantee more than two employees
          • Non employees clients should arrange a collateral (Commercial, Deposit, Gold)
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