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Micro Financing Products

Ijarah Bi-Tamlik (Lease Then Purchase): This product is a mode of investment whereby a particular machine or asset is purchased by the bank on request of the client but leased out to the client. This type of mode of financing can be in two forms; one allows the member to purchase the machine or asset after the- stipulated time for the lease contract i.e lease- then- purchase.

Mudarabah financing (short term partnership): The bank gives credit facility to customer borrowers for permissible business activities and share profit or loss arising from the transaction on an agreed ratio (e.g. Ratio 65:35). This is common for traders and suppliers and the activities are actively carried out by the borrowers.

Murabaha (sale on cost plus mark-up basis): This is mostly found in Assets financing whereby the bank will buy the assets for resale at mark-up price (with profit) and allow the customer to pay on installment over a period of time. Under this mode of financing, original cost is declared to the customer and the mark-up/profit is bargained.


Musharakah (Short time joint ventures or equity holdings): In this case, both the borrower and the bank are involved in the active running and monitoring of the business that is jointly financed. Under this mode of financing both parties must be co-financiers of the business.

Wakalah (agency services): The products under this are sale of WAEC/GCE, JAMB, scholarship forms etc and the bank earns commissions on them.

Bai-Salam (LPO financing): It is a deferred delivery contract and financing mechanism used for agric financing, contractors, and traders.

Grassroot women empowerment schemes: This package is geared towards partnering with government and other donor agencies to empower active, skilled but poor women and youths by way of providing economic empowerment initiatives peculiar to the project requirements. Programs that are designed for alleviation.