Under Al Rajhi Bank’s Personal Financing procedure, the Bank will offer for sale to the borrower, a commodity which holds an equal value to the personal financing amount, at a deferred price. The borrower may then sell the commodity to obtain cash for personal use. This contract of sale of the commodity between the Bank and the Borrower is based on the Islamic contract of Sale on Deferred Price (Bai’ Bi Thaman Ajil) by installments.
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