(C) Manual - Consumer Financing

CONSUMER FINANCING SCHEME
Consumer Financing
Operation Manual
June, 2009
Page No. 1
Consumer Financing
Operation Manual
Second Edition-2009
Recommended by:
Consumer Financing Development Committee
and
Management Committee (MANCOM)
Drafted/compiled by :
1. Md. Abdur Rahim Duary, Vice President
Internal Control & Compliance Division
AL-ARAFAH ISLAMI BANK LIMITED

Head Office
36, Dilkusha, Commercial Area, Dhaka
Page No. 2
Al-Arafah Islami Bank Limited
Consumer Financing Operation Manual
Table of Contents
Subject Page No.
Part – I
General guidelines 02
Consumer Financing Scheme 02
Objective of the Scheme 02
Target Group 02
Scope of Financing 02
Modes of Investment 03
Eligibility 03
Condition for selection of Client 03
Application for investment under Consumer Financing 03
Processing of the application 03
Sanctioning Authority 04
Documentation 04
Disbursement 05
Calculation of Monthly Installment 05
Supervision, Monitoring & Recovery 05
Repayment 05
Reporting 06
Training 06
Conclusion 06
Part-II
Product Program Guidelines 07
Consumer Investment Scheme 07
Auto/Car Investment Scheme 08
Personal Investment Scheme 09-10
Professional Investment Scheme 11
House Finance Investment Scheme 12
Consumer Financing at a glance 13
Part-III (Annexures)
Application Form for Consumer Investment Scheme (Annexure-1) 14-16
Investment Assessment by the Branch & Head Office (Annexure-2) 17-18
Letter of Introduction (Annexure-3) 19
Guarantor’s Information (Annexure-4) 20-21
Application Form for House Financing Investment Scheme (Annexure-5) 22-24
Check List for Proposal under Consumer Investment Scheme (Annexure-6) 25
Monthly Statement of Investment under CIS (Annexure-7) 26
Monthly Summery Statement of Cumulative Investment & Recovery under CIS (Annexure-8) 27
Flow chart of Consumer Financing Process (Annexure-9) 28
Limit Insertion Instruction Form (Annexure-10) 29
Documentation & Security Checklist (Annexure-11) 30
Contact Point Verification Report (Annexure-12) 31
Non Payment of Monthly Installment (Annexure-13) 32
Final Reminder (Annexure-14) 32
Facility Call Up (Annexure-15) 33
Provision Report (Annexure-16) 34
Documentation Check list for CIS for Unsecured Personal Investments (Annexure-17) 35
Documentation Check list for CIS (Businessman) (Annexure-18) 36
Letter of Introduction (Annexure-19) 37
Letter of Undertaking (Annexure-20) 38
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Page No. 4
Part-1
General Guidelines
1.0 Consumer Financing Scheme:
1.1 Consumer Financing Scheme of Al Arafah Islami Bank Limited (AIBL) is designed to cater to the
financial requirements of a group of people specially professionals of various categories viz. doctors,
engineers, bankers, lawyers, other professional individuals and officials of Govt. / /renowned/private
organization, any tax paying reputed businessman and employed/self employed tax paying individual having
a reliable source of income
2.0 Objective of the Scheme
To facilitate the bank employees, government service holders, professionals and self-employed persons & other
individuals in purchasing necessary household appliances, professional equipment, cars, construction materials and
houses/flats and meeting of any emergency personal requirements.
3.0 Target group:

3.1. Government Officials
3.2. Semi- Government Officials
3.3. Members of the Armed forces (Army, Navy, Air-force) (2 nd Lieutenant/equivalent and above)
3.4. Member of the police (Sub-Inspector and above) and BDR (Lance Naik and above)
3.5. Officials of Autonomous Bodies
3.6. Officials of all Banks and other Financial Institutions, Insurance companies.
3.7 Directors/Executives of reputed Private Ltd. Companies / Organizations
3.8. Teachers and officials of Public and Private Universities
3.9. Teachers of Govt. recognized Private & Public Schools, Colleges & Madrashas.
3.10. Professionals like Doctors, Engineers, Dentist and Advocates etc.
3.11. Senior Executives and Directors of Multinational Companies/group of companies/ Tax paying renowned
businessmen.
3.12 Other self-employed persons/renowned individuals acceptable to the bank.
3.13 The employees of AIBL will also be eligible to avail the facilities against Consumer Durables Investment
Scheme & personal Investment Scheme.
4.0 Scope of Financing:

4.1. Consumer Financing Scheme will be extended for buying all types of Shariah supported household
essentials, Medical equipments, reconditioned cars (unused), Repairing/ renovation/purchase of
house/flats etc. detailed has been mentioned in the respective Product Program Guideline (PPG).
4.2. Investment may also be allowed under the Scheme for any other purpose (i.e. incurring of various
expense for marriages, purchasing of gold ornaments etc) for matrimonial purpose not incompatible
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with Shariah principles under special consideration.
5.0. Mode of investment

5.1 Bai-muajjal (CIS)
5.2 HPSM (CIS)
(Mode of investment to be determined depending upon the items to be purchased)
6.0 Eligibility
6.1 Age –The age of the client must be within 21 to 65 years.
6.2 Nationality – The client must be Bangladeshi
6.3 Income source – The client must have a permanent source of income.
6.4 TIN – The client should have valid TIN number
6.5 Bank Account – The client must have Mudarabah Savings Account/Al-Wadia Current account with
AIBL
6.6 CIB Report – CIB report must be obtained from Bangladesh Bank before finalization of the proposal .
6.7 In case of service holder, applicants must have 3(three) years un-expired service for outsiders and 2 years
unexpired service for the officials of AIBL.
6.8 In case of service holder (outsiders) applicants must be a confirmed/permanent officials and 3 years continuous
service. The officials of AIBL must have two year service and permanent employee.
7.0 Condition for selection of client:

7.1 Financing facilities to be commensurate with his/her income
7.2 Ascertain/verification the genuineness of employer's certificate in case of service holder/teachers etc.
7.3 Ascertain/verification the permanent residential address of the applicant.

7.4 Ascertain/verification the genuineness of the applicant/client by visit, phone call to the client’s
home/workplace, guarantor's residence /workplace.
7.5 To examine the timely payment of utility bills i.e. Electricity bill, Gas bill, Telephone bill etc for identification.
Tax payment certificate also to be examined, if applicable.
7.6 To obtain applicant’s declaration in respect of liability with other banks, financial institutions, credit card/VISA
card or from any other sources.
7.7 To examine the salary statement, Account statement, Statement of investment from other sources, credit card limit
etc. to ascertain the individual's repayment capacity.
7.8 At the time of approval of Investment under the Scheme in favour of employees of AIBL, his personal
performance, service length with the bank, commitment to the bank etc shall be considered. Hence branch
incumbent must put his recommendation considering these issues for approving investment in favour of any
employee through his branch.
8.0 Application for investment under Consumer Financing:

8.1 Eligible Individual(s) can apply for investment in printed format which is available in any branch of
AIBL on payment of Tk. 200/- only.
8.2 A quotation for the goods to be purchased duly accepted by the applicant shall be enclosed with the
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application.
9.0 Processing of the application:

9.1 Application Form (in respect of information, documents, supporting papers) will be available at each branch.
9.2 Application Form to be submitted duly filled in and signed by the customer along with required documents.
9.3 Branch will verify/examine the authenticity of the documents/information provided by the client
9.4 Income statement is supported by relevant documents.
9.5 The expenses shown in the Application Form are to be verified.

9.6 Monthly installment size will not exceed 33% of monthly take home salary/income of the applicant
9.7 Dealing officer will place the complete Application with his opinion to the Investment In- Charge/ Manager
immediately after receiving the application.
9.8 Investment In-Charge/Manager will assess the investment risk of the proposal within 3 (three) working days from
the receiving the proposal and submit it to Investment Risk Management Committee (IRMC) of the branch.
9.9 If the Investment proposal is considerable & accepted by the IRMC of the branch, the Branch Manager will
forward the proposal within 5 (five) working days to the Consumer Financing Department of Investment Risk
Management Division of H.O. for sanctioning the investment with his recommendation.
9.10 Head Office decision will be conveyed to the branches without delay or within 7 (seven) working days from the
date of receiving proposal from the branch against which sanctioning authority is management & within 30
(thirty) working days against which sanctioning authority is EC/Board.
10.0. Sanctioning Authority:

10.1. Investment under the Scheme will be sanctioned by the competent authority as per Business
Delegation Power stipulated in the policy chapter and as approved by the Board of Directors from
time to time.
10.2 Branch wise ceiling (budget) under the Scheme shall be determined by the Managing Director
from time to time which will be conveyed to the branches accordingly.
11.0 Documentation:
Documentation must be completed by the branch before disbursement under the scheme viz :
11.1 Bai Muajjal / HPSMAgreement.
11.2 Letter of appointment of the investment client as buying agent on behalf of the Bank to purchase the
goods (when the bank will purchase the goods & make payment to the supplier directly then
appointment of buying agent will not be required.).
11.3 Demand Promissory Note

11.4 Letter of Undertaking
11.5 Letter of Guarantee
11.6 Letter of Hypothecation
11.7 Irrevocable Letter of Authority to sell Hypothecated goods
11.8 Letter of Disbursement
11.9 Purchase Schedule
11.10 Cash Memo in the name of Bank
11.11 Letter of declaration
11.12. Letter of Set-off
11.13. Letter of installment 12.14. Letter of continuity
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11.15 Cheques for payment of individual installments and one undated Cheque for the whole
investment amount is to be obtained. Preference is to be given for obtaining Cheques of the account
through which salary/income is routed.
11. 16. Sanction advice duly accepted by the client.
11.17 Registered mortgage of Collateral Security as per norms/rules as stipulated in the Investment Risk
Management Policy, Investment Operation Manual and Product Program Guidelines of the respective
products of Consumer Financing of the Bank.
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12.0 Disbursement:
12.1 Disbursement will be made to the account of the seller/supplier if he maintains any account with the branch. In
other cases, Payment Order will be issued in the name of the seller(s)/supplier(s)
12.2 As per Shariah, the applicant may also be appointed as the buying agent on behalf of the Bank to purchase the
goods, if necessary.
12.3 The applicant will deposit his equity to the Mudarabah Savings Account/Al-Wadia Current Deposit Account (as
applicable) with the concerned branch.
12.4 Bank will disburse the purchase price of the goods by debiting the Mudarabah Savings Acount /Al-Wadia
Current account of the client for equity and by debiting of Investment account in the name of the client for
investment amount.
12.5 Bank will deliver the goods to the client under the Bai-Muajjal/HPSM Agreement.
13.0 Monthly installment will be calculated as per following formula:
a) Installment of principal = Principal amount

No. of installment
(Principal + Installment of Principal) x Rate of Return x No. of Installment

b) Profit for Investment period =
2 x 12 x 100
(b) .
c) Installment of Profit = No. of installment
d) Monthly installment = (a + c)
14.0 Supervision, Monitoring & Recovery:-

14.1 Bank officials to be designated for Consumer Financing Approval, Documentation, Monitoring and
Administration purpose. Designated officials will be responsible for successful sales, marketing and
above all total implementation of the scheme.
14.2 Designated officials will also be responsible for recovery of the consumer financing investment.
15.0 Repayment :
15.1 Bank's investment with profit shall be recovered on equal monthly installment basis as stated above which will start
from the following month of disbursement except house financing scheme. Installment of House Financing Scheme
will start after gestation period if allowed by the approval authority.
15.2 For the employees of AIBL monthly installment will be recovered from their salary at source.
15.3. The cheques will have to be presented for encashment towards adjustment of monthly installments within 7(seven)
days of each month.
15.4 The customer may pay advance installments even before due date(s) and in that case there is no scope to refund the
amount of risk fund, processing charges & supervision fees for the un-utilized period of investment but the customer
will be entitled to have rebate on profit for un-utilized period of investment.
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15.5 In case of default in payment of installment(s), compensation will be charged on the defaulted amount as per bank's
investment norms.
15.6 If the customer fails to pay three/six/twelve consecutive installments, the entire investment will fall due as per terms
of classification of investment and he will be given notice to pay the entire investment or as per guideline of
Bangladesh Bank as amended from time to time.
15.7 In that case recovery process will be followed by letter, persuasion over phone, visit, and group visit etc. to investment
client as well as to the guarantor.
15.8 Legal action will be initiated for recovery of investment as the last resort of recovery measures.
16.0 Reporting :
16.1 A customer wise monthly statement as per format in Annexure.-"7" to be placed before the Manager
for his observation and comments.
16.2 The statement, thereafter, to be submitted to the Chief of Investment Administration Department of
Head Office.
16.3 A monthly summary statement as per Annexure-"8" showing cumulative disbursement, recovery,
outstanding under the Scheme will be sent to the Head Office.
16.4 A monthly summary statement of investment under the Scheme will be submitted by Investment
Administration Department to the Managing Director for his perusal and instruction, if any.
17.0 Training :
Proper training on consumer financing under the auspicious of AIBL Training & Research Institute should
be given to the concerned officials.
18.0 Conclusion :
Consumer Financing Schemes have been prepared on the existing Consumer Investment Scheme and as per
Prudential Guideline of Bangladesh Bank. These schemes will be revised/developed from time to time for
the interest of the bank. All concerned executive/officials of the bank will have to follow the
common/general guidelines of investment risk policy manual/investment operation manual and instruction
circulars/circulars of our bank vis-à-vis Prudential Guidelines of Bangladesh Bank on Consumer Financing.
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Page No. 11
Product Program Guidelines
Name of the products of Consumer Financing Schemes:
01. Consumer Investment Scheme,
02. Auto/Car investment Scheme,
03. Personal Investment Scheme,
04. Professionals Investment Scheme,
05. House Financing Investment Scheme.

01. Consumer Investment Scheme
Product Program Guideline (PPG)
The objective of the Scheme is to increase standard of living & quality of life of the Service holders and any employed /self-employed tax
paying individual etc. having a reliable source of income by allowing Investment facilities to purchase Household articles.
1. Purpose:
A personal Investment scheme that supports purchase of various consumer durables such as Television, Refrigerator, Air Conditioner, Washing
Machine, gas cooker, Computers, electric generator, IPS, UPS and other household furniture etc.
02. Maximum amount of investment

Upto Tk.3,00,000/=(without collateral security)
From Tk.3,00,001/= to Tk.10,00,000/= (with collateral security)
03. Tenure : Minimum 12 months and maximum 48 months and repayment will be equal monthly installment.
04. Equity (Bank : Client) : The investment shall be provided at a maximum investment equity ratio of 80 : 20.
05. Investment burden Ratio : Investment burden Ratio to be maintained at minimum 33% based on net monthly income.
06. Mode of Investment: Bai-Muajjal (CIS)
07. Rate of Returns & other charges:
a. Rate of return: 16% on net Investment.

b. Risk fund : 2% for one time only on net investment which will be realized at the time of disbursement.
c. Supervision charge : 1% on net investment (one time- during disbursement).
d. For the employees of AIBL: Rate of return will be 13% and no processing fee, risk fund and supervision
charge to be imposed.
08. Minimum Service / length of business of self employed individual etc.:
For service holder, applicants must have 03 (three) years un-expired service for outsiders and 2 years unexpired
service for the Officials of AIBL.
Applicants must be confirmed/permanent officials and 3 (three) years continuous service including the officials of
AIBL / continuous services of experienced banker joins from other bank(s).
For self employed individual, a business record of minimum 4 years
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09. Security
 Hypothecation over purchased assets.
 Personal guarantee of superior or in equivalent rank or controlling officer of the applicant in case of service holder.
 In other cases Personal Guarantee of 2(two) persons (preferably any valued customer of AIBL) acceptable to the
Bank.
 Personal Guarantee of any one of the following nearest relatives (i) Spouse (ii) Father (iii) Mother (iv) Brother (v)
Aged/matured children.
 Personal Guarantee of the Investment Client.
 Post dated cheques for monthly installments.
 One undated cheque for full Investment value including full profit to be taken in advance.
 Sufficient Collateral Security to be obtained to secure the investment (from Tk. 3 lac to Tk. 10 lac) as per existing
norms & practice.
10. Any one or more of the following Security may be taken as additional Security:
 Wage Earner’s Development Bonds
 Fixed Deposit Receipts
 Other form of bank deposits
 ICB unit Certificates
 Corporate Undertaking and/or Corporate Guarantee from reputed and creditworthy organizations.
11. Verification of Personal Details and Quotation
Detail of an applicant to be verified before approval is accorded.
 Letter from employer with details of employment and salary
 Investment client and Guarantors (if any) details (addresses – both present and permanent, all telephone
numbers of residence, office & mobile no.)
 Personal net-worth statement
 Quotation of the item to be purchased.
 Bank statement
12. Substantiation/Certification of Income
Proper certification of income is mandatory.
All or any of the following original / true copy of original (accepted only after seeing the originals) documents are
accepted for the purpose:
 Last Tax Return
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 Bank Statements for last 6 months
 Personal Net-Worth Statement
 Any other document that may stand as a proof of income.
2. Auto/Car investment Scheme
Product Program Guideline (PPG):
The Bank will allow car Investment to any Bangladeshi individual for private/personal use who has the means and
capacity to repay bank Investment. In specific terms, these could be salaried executives of govt. & renowned non-
govt.organization etc., any tax paying reputed businessmen, any employed / self-employed /any tax-paying individual
having a reliable source of income.
01. Purpose
Purchase of new /reconditioned vehicles for personal use only. However, in no case the bank shall Finance cars older
than 5 (five) years.
02. Maximum amount of investment : Tk. 20,00,000/=
03. Tenure: Max. 72 equal monthly installments

06. Investment to price ratio: Investment amount can not be exceed 80% of the vehicle price
07. Mode of Investment : HPSM (CIS)
08. Rate of Returns & other costs:
a. Rate of return: 16% on net Investment.
b. Supervision charge: 1% (one time) on net investment which will be realized at the time of disbursement.
c. Risk fund : 2% for one time only on net investment which will be realized at the time of disbursement.
09. Security
a) Hypothecation over the car/vehicle.
b) Joint Registration of the car,
c) First party comprehensive insurance of the car (policy must be renewed every year and copy of the policy must be
submitted to the bank)
d) Post dated cheques for each 6 monthly installment

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e) One undated cheque for full Investment value including full interest to be taken in advance.
f) Personal Guarantee of the client.
g) Personal Guarantee of spouse/parents and an individual having minimum solvency/income not less than that of
the Investment client supported by income proof.
h) Collateral Security: Additional collateral security may be obtained against the investment, if possible.
10. Other Documents
a) Irrevocable Letter of Authority to repossess the vehicle
b) Ownership transfer form signed by customer
c) Letter of Offer with full terms and conditions stated therein and duly accepted.
11. Disbursement pre-condition
Comprehensive Insurance coverage and Registration Document must be in place before disbursement of investment
i.e. giving the Pay Order to the supplier of the vehicles.
Details of an applicant to be verified before an approval are accorded.
 Car quotation
 Bank statement
 Last Tax Return
 Any other document that may stand as a proof of income
3. Personal Investment Scheme

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Personal Investment (PI) shall be allowed for miscellaneous personal financial requirements of salaried or self-
employed people living in the cities / towns where the Bank has its operations. It is a clean or unsecured Investment in
the sense that only security in this type of Investment product is: a) Letter of Introduction from employer; b) Transfer of
monthly salary and assignment of Terminal Benefits; c) Personal Guarantee taken from specific section of people.
01. Purpose:
The customer has to declare the purpose of the Investment. Purposes may be as follows:
Marriage expenses and purchase of gold ornament etc., hospitalization or other emergency medical needs, to meet
up educational expenses, house renovation/repairing, setting up tube-well, mobile/telephone set, bicycle and
purchasing of miscellaneous household appliances etc.
02. Maximum amount of investment
Upto Tk.3,00,000/=(without collateral security).
03. Tenure : Minimum 12 months and maximum 48 months and repayment will be equal monthly installment.
06. Mode of Investment: Bai-Muajjal (CIS).
07. Rate of Returns & other costs:
a. Rate of return: Bai-Muajjal (CIS) 16% on net Investment

b. Risk fund: 2% for a single time only on net investment which will be realized at the time of disbursement.
c. Supervision charge: 1% on net investment (one time- during disbursement).
d. For the employees of AIBL: Rate of return will be 13% and no processing fee, risk fund and supervision
charge to be imposed.
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08. Minimum Service / length of business etc.
For service holder, applicants must have 03 (three) years un-expired service for outsiders and 2 years unexpired
service for the Officials of AIBL.
Applicants must be confirmed/permanent officials and 3 (three) years continuous service including the officials of
AIBL / continuous services of experienced banker joins from other bank(s).
For self-employed individual, a business record of minimum 4 (four) years.
09. Security:
 Personal guarantee of superior or in equivalent rank or controlling officer of the applicant in case of service holder.
 In other cases Personal Guarantee of 2(two) persons (preferably any valued customer of AIBL) acceptable to the
Bank.
 Personal Guarantee of any one of the following (i) Spouse (ii) Father (iii) Mother or (iv) Brother of the applicant (v)
Aged/matured children.
 Personal Guarantee of the Investment Client.

 Post dated cheques for monthly installments
 One undated cheque for full Investment value including full profit to be taken in advance.
 Fixed Deposit
 Other form of bank deposits
 ICB unit Certificates
Detail of an applicant to be verified before an approval is accorded.
 Quotation of the items to be purchased.
 Bank statement
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 Last Tax Return
4.
Page No. 18
5. Professionals Investments Scheme
It is one of the Personal Investment Scheme meant for professionals only (doctors, engineers, computer
professionals, lawyers etc) to support their small scale purchase of different equipments, tools and small machineries
for installation at their business sites / offices. This particular product is of an inherently safe nature as the target
customers will be the established doctors, engineers or highly qualified other professionals of the society.
01. Customer Segment
Any Bangladeshi in the following professions as self employed or salaried people:
- Doctors or medical professionals
- Engineers
- IT professionals
- Lawyers
- Management Consultants
02. Purpose
For purchase of items to support professional needs of above customer segment (e.g. purchase of X-ray machine,
medical beds, ultra- sonogram machine, engineering/mechanical tools, Laptop, Photostat machine or set up of an
office / chamber on a small scale etc)
03. Maximum amount of investment: Tk. 20,00,000/=
04. Tenure : Minimum 12 months and maximum 60 months and repayment will be on equal monthly installment.
07. Mode of Investment: HPSM (CIS)
08. Rate of Returns : 16% on net Investment
09. Minimum Service / length of business etc.:
For service holder, applicants must have 3 (three) years un-expired service.
Applicants must be a confirmed/permanent officials and 3 years continuous service.
For self employed individual, a business record of minimum 2 years.
10. Security/ Collateral

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 Insurance over assets (policy must be renewed every year and copy of the policy must be submitted to the
bank)
 Post dated cheques for each 6 monthly installment
 One undated cheque for full Investment value including full interest to be taken in advance.
 Personal Guarantee of the client.
 Personal Guarantee of spouse/parents and an individual having minimum solvency/income not less than that
of the Investment client supported by income proof.
 Collateral Security to be obtained to secure the investment as per existing norms & practice.
 Fixed Deposit, ▪ Other form of bank deposits ▪ ICB unit Certificates
Detail of an applicant to be verified before an approval is accorded.
 Letter from employer with details of employment and salary ( for service holders)
 Quotation of the items to be purchased
 Bank statement
 Last Tax Return
 Any other document that may stand as a proof of income.
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6. House Finance Investment Scheme
Product Program Guideline:

Housing is one of the fundamental needs of people. AIBL has introduced this Scheme to ease the housing problem in
urban and Semi urban areas and to make arrangement for comfortable accommodation by construction of new
houses, extension/completion of houses already constructed of any Individual, any salaried executive/Officer of govt.
& renowned private /non-govt. organization etc., any tax paying retired official, any tax paying reputed businessmen,
any employed / self-employed tax-paying individual having a reliable source of income shall be eligible to apply for
availing investment facilities under the scheme.
01. Maximum amount of investment : Tk. 75,00,000/=

(But as per prudential guideline (regulation No. 24), the total exposure under House Financing Scheme will not
exceeds 10% of net investments of the bank/branch).
02. Tenure : Maximum 240 months (20 years) and repayment will be on equal monthly installments.
04. Mode of investment : HPSM (CIS)
06. Minimum Service / length of business etc. :

For service holder, applicants must have 5 (five) years un-expired service and must be a confirmed/ permanent
officials and 5 (five) years continuous service.
For self-employed individual, a business record of minimum 4 years.
07. Security/ Collateral
 Registered mortgage with registered power of attorney of land/building in favour of bank of house/flat etc.
against which investments will be allowed.
 Personal Guarantee of the client ▪ Personal Guarantee of spouse/parents/matured children
 Post dated cheques for each 6 monthly installments
 One undated cheque for full Investment value including full rent/profit to be taken in advance.
08. Rate of Returns & other costs: 16.00% on net Investment
09. Verification of Personal details & collateral security, quotation etc.:
Details of an applicant to be verified before an approval are accorded.
 Assess the Genuineness of Collateral security and Integrity of the title documents etc.
 Sight plan, Approved plan etc. to be verified
 Verify that the applicants is a bonafide citizen of Bangladesh
 Letter from employer with details of employment and salary ( for service holders)
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 Personal net-worth statement. ● Quotation of the items to be purchased.
 Last Tax Return
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Consumer Financing at a glance
Sl Name of the Purpose Target Group Maximum Mode of Tenor Invest. Invest. Rate of Other Security
Burden Equity ratio/
No. Schemes Limit Investment ratio of min. down return Charges
net payment
income
1. Consumer Purchase of various consumer Executive/Officer of govt. Tk. 3.00 Lac Bai-Muajjal 48 33% 80% : 20% 16.00% Supervision Personal Guarantees,
Investment durables articles such as (Without (CIS) Months Charge 1%, Cheques eqv. of
Scheme Television, Refrigerator, Air & renowned private security) Risk Fund 2% Investment amount
(CIS) Conditioner, Washing Machine, Tk. 10.00 Lac upto Tk. 3 lac.
Computers, electric generator, organization etc., any (With Collateral &
IPS and other household items security) Sufficient Collateral
etc. reputed businessmen, Security for Tk. 3.00
Lac to Tk. 10.00 Lac
any self-employed/retired
tax-paying individual
having a reliable source
of income.
2. Auto/Car Purchase of new -do- Tk. 20.00 Lac HPSM (CIS) 72 33% 80% : 20% 16.00% Supervision Joint Registration of
Investment /reconditioned vehicles for Months Charge 1%, the car, Hypo of
Scheme personal use only. However, in Risk Fund 2% Car/vehicle, Personal
(AIS) no case the bank shall Finance Guarantee, Cheques
cars older than 5 (five) years. etc.
3. Personal Marriage expenses and purchase To support personal Tk. 3.00 Lac Bai-Muajjal 48 35% 80% : 20% 16.00% Supervision Personal Guarantee of
Investment of gold ornament etc., financial requirements of (without (CIS) months Charge 1%, two respectable
Scheme hospitalization or other fixed income group/ collateral Risk Fund 2% persons, Cheques etc.
salaried or self-employed security).
emergency medical needs, to
people living in the cities /
meet up educational expenses, towns where the Bank
house renovation/repairing, has its operations.
setting up tube-well,
mobile/telephone set, bicycle and
purchasing of miscellaneous
household appliances etc.
4. Professional To support professional’s small Professionals like Tk. 20.00 Lac HPSM (CIS) 60 33% 80% : 20% 16.00% - Sufficient Collateral
Investment scale purchase of different doctors, engineers, months Security.
Scheme
equipments, tools and small computer
machineries for installation at professionals, lawyers
their business sites / offices. etc.
5. House To ease the housing problem Executives/Officials of Tk. 75.00 Lac HPSM (CIS) Max. 240 33% 80% : 20% 16.00% - Sufficient Collateral
Financing in urban and Semi urban areas govt. & renowned private (with Collateral months Security.
Scheme and to make arrangement for organization etc., any Security)
comfortable accommodation reputed businessmen,
by construction of new houses, any self-employed/retired
extension/completion of tax-paying individual
houses. having a reliable source
of Income.
(Annexure-01)
(Cost of this form is Tk. 200/-)
The Manager
Al-Arafah Islami Bank Ltd.
............................ Branch.
Sub: Application for Investment under the Consumer/ Scheme
I do hereby apply for an Investment of Tk............................... (in words) ............................................................. for the
purpose of ..................................................... .......................................................................and providing the following
information desired by your bank.
Full Name
Account Number
TIN Number
Profession
Credit/Islamic Card Number Issued by
PERSONAL INFORMATION
Office Address
Residential Address
How long in the Current YY: MM:

Address
Residential Status Owned Rented Living with Parents Other ( )
Permanent Address
Office: Home:
Contact Number
Mobile Fax:
dd: mm: YY:

Date of Birth
Educational Qualification SSC HSC Graduate Post-graduate Others
Father’s Name
Profession
Mother's Name
Profession
Parent's Address
Spouse Name
Profession
Address of working place

of Spouse (if any)
Spouse Contact Number Office: Mobile:
Number of Children Total Dependents
PROFESSIONAL INFORMAIOTN
For Service Holders
Organization
Nature of job
Designation Date of Joining:
Immediate Past Employer Date of Joining:
First Employer Date of Joining:
REFERENCE
Immediate Relative(s)
Name & Profession
Office Address
Contact Number Office: Mobile:

FINANCIAL INFORMATION
(A) Statement of Financial Position of Mr./Mrs............................................................As on ..........................
Gross Salary/Income Tk......................................
Less: Deductions
Provident Fund Tk.......................................
Income Tax Tk.......................................
Investment Installment Tk.......................................
Credit Card Payment Tk.......................................
Other Deductions Tk.......................................
Take-home Salary (Gross Salary-Deductions)
FINANCIAL INFORMATION
(B) Statement of Financial Position of Mr./Mrs. .......................................................... As on ..........................
Liabilities : Amount Assets : Amount
Investment from AIBL : Deposit with Banks :
Investment from other Banks Shares & Securities held
Investment from employer Land and Building

Investment from other sources Motor Vehicles
Credit card Furniture and appliances

Other liabilities Other Assets
Total Liabilities Total Assets.
Net worth
GUARANTOR
Name & Profession
Office Address
Permanent Address
Contact Number
Office: Mobile:
Documents Attached
Photograph
Bank Statement (Last 12 Months)
Income statement
Photocopy of TIN Certificate
Photocopy of Telephone & Utilities Bill
Declaration
I, do hereby declare that all the information furnished here in above is true, complete, accurate and nothing have been concealed.
Signature of Applicant
(Annexure-02)
INVESTMENT ASSESSMENT BY THE BRANCH
Gross Salary Tk......................................
Less: Deductions
Provident Fund Tk.......................................
Income Tax Tk.......................................
Investment Installment Tk.......................................
Credit Card Payment Tk.......................................
Other Deductions Tk.......................................
Take-home Salary (Gross Salary-Deductions)
Take-home Salary Tk.........................................

Installment Size Tk. .......................................
(Maximum 20% of Free Monthly Income)
No. of Installment :..............................................

Proposed Investment Limit :...............................................
Comments of the Dealing Office

1. Required documents are properly filled in and submitted (yes/no)
2. Income and expenses are properly supported by relevant documents (yes/no)
3. Information furnished by the applicant is checked and found correct (yes/no)
4. Investment risk assessment is carried down and found satisfactory/unsatisfactory
5. CIB clearance from Bangladesh Bank (yes/no)
6. Investment proposal may be approved/ regretted
Signature:............................................
Name:.....................................................
Comments of Investment In-charge
Investment risk assessed by the Dealing Officer is found correct/incorrect.

Investment proposal may be approved/regretted.
Name:............................................................................................................................ Signature:............................................
Comments of Branch Manager

Recommended for sanctioning Tk............................................... for ..................... months.
Signature:............................................
Name:.............................................................................
INVESTMENT ASSESSMENT BY THE HEAD OFFICE
Observation/Comments of the Dealing Officer
Observation/Comments of the Head of the Investment Division
Decision of the sanctioning authority

(Annexure-03)
LETTER OF INTRODUCTION
This is to certify that

Mr./Mrs. .................................................................................................................................... has been
working in ...............................................................................(Company),
since........................................
He/She is a permanent employee of the Company. As per our service rule/terms of employment
his/her date of retirement is ............................ ......................................He/She is working in
our......................................................................................... Division/department in the capacity
of........................................................................................................
His/Her salary structure is as follows:
Gross Salary : : Tk.

Less : (Deductions)
Tax : Tk.
Provident Fund : Tk.
Investment Installment(s) : Tk.
Other Deductions : Tk.
(Please Specify)
Take-home Salary : Tk.
Please note that the existing Investment liability of the concerned employee is as follows:
a. Investment from our organization Tk. : ......................................................................................................

b. Investment from other Sources Tk. : .......................................................................................................
c. Total Tk. : .......................................................................................................
Signature & Stamp
Name :....................................................................................................................................................
Designation:.....................................................................................................................................................
Department:.....................................................................................................................................................
(Annexure-04)
GUARANTOR’S INFORMATION
(Photograph)
Name in full
Occupation
Designation
Gross Salary Per Month
Name of the Organization
Office Address
Permanent Address
Contact Number Office: Home:
Mobile: Fax:
Is there any Account With AIBL Yes No if yes
Account No.
Branch
FINANCIAL INFORMATION (Guarantor)
(B) Statement of Financial Position of Mr./Mrs........................................................... As on..........................
Liabilities : Amount Assets : Amount

Investment from AIBL : Deposit with Banks :
Investment from other Banks : Shares & Securities held :
Investment from employer : Land and Building :
Investment from other sources : Motor Vehicles :
Credit card : Furniture and appliances :
Other liabilities : Other Assets :
Total Liabilities : Total Assets. :
Net worth :
Signature of the Guarantor Signature of the Applicant

(Seal if any) (Seal if any)
Employer's Certificate (if guarantor is a service holder):

This is to certify that ...................................................................................S/O.......................................................................... is
serving at .........................................................................................................................since .................................... in the rank
of ............................................................................................ I also certify that the above information is correct to the best of my
knowledge.
Signature :
Name :
Designation :
Official Seal Address :
Date :
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Al-Arafah Islami Bank Limited Annexure-06

.................................... Brach
Check List for Proposal under Consumer Investment Scheme

(Enclose the papers/documents applicable for the proposal)
SL Papers & documents Obtained Not Obtained Remarks

No.
Common Documents
01. Application Form
02 Quotation/Invoice for goods to be purchased
03 Photograph of the applicant
04 Income statement
05 Salary statement if applicant is service holder
06 Bank statement (last 12 month)
07 Copy of TIN certificate
08 Copies of utility bills paid
09 Letter of Induction/employer's certificate if
applicant is service holder
10 Guarantor's letter of introduction in case of service
holder
11 Applicant's declaration regarding liability
12 Investment Proposal in format ‘A’ and or required
appropriate format for house financing investment
13 Verification/visit report on investment
applicants/guarantors/genuineness of collateral
securities etc. by the branch as per
norms/practices
Security Documents Checklist

Sl No. Particulars Required Date of Receipt
1. Sanction Letter Duly Accepted
2. Demand Promissory Note
3. Letter of Guarantee
4. Letter of Arrangement
5. Letter of Undertaking
6. Bai -Muajjal/HPSM Agreement
7. Irrevocable letter of authority to sell the goods
8. Letter of Hypothecation
9. Letter of disbursement
10. Letter of Installment
11. Letter of revival
12. Cash Memo in the name of bank
13. Purchase schedule
14. Advance Cheque for installments and one undated Cheque
15. Approved plan, Estimate, site plan all the deeds & porchas
with up to date rent period receipt for the investment against
House Financing Scheme.
16. Legal Opinion on collateral security
17. Other required documents/papers as applicable as per
mode
of investment.
Al-Arafah Islami Bank Ltd. Annexure – 09
Application received from customer

Consumer Financing Policy
FLOW CHART OF CONSUMER FINANCING PROCESS

Sales/branch scrutinizes the application
Application meets basic PPG criteria
If yes If no, application returned to source
Sales Officer/Manager recommends the investment
Application is received at investment & assessed
Investment approved ?
If yes If no, application returned to source
Application sent to investment dept
Documents in order ?
If yes If no, application sent back to source
Investment disbursed and application & charges docs lodged in safe

Annexure-10
Limit Insertion Instruction Form
SLA Status : Date

Customer's Name :
Facility No. Priority : Br No. :
Please arrange to set the limit of BDT :

in words BDT :
in the A/C with an Profit Rate of %

with the Expiry Date realizing the Commission of BDT +
15.00% VAT and the Stamp Charge of BDT
Remarks
Authorized Signature Authorized Signature
Investment Admin Only :
Approved By : Input By :
Annexure=11
Documentation & Security Checklist
Date:
Customer's Name :
Investment A/C No :
Facility No.
Description of Documents :
 Approved Application form

 Demand Promissory Note for BDT
 Letter of Continuation
 Memorandum of Deposit of Securities for BDT
 Letter of Guarantee
 Letter of Authorization for Encashment of Securities
 Irrevocable Letter of Authority
 Letter of Hypothecation
 Standing Order
 Banking Arrangement Letter Dated :
 Letter of Lien and Set-off over Deposit A/C :
 All the documents against Collateral Security (Title Deed, Via Deed, Parchas, NEC, Mutation, Mortgage Deed etc. )
 Irrevocable Letter of Authority to Sell Hypothecated Property
We certify that all the security documentation marked above have been completed, physically checked, lodged and are in order. We further
confirm compliance with all the terms pertaining to documentation as detailed in the Banking Arrangement. Letter accepted by the Investment
client.
------------------------------- -------------------------------
Annexure-12
CONTACT POINT VERIFICATION REPORT
Applicant’s name: CPV agent’s name:

Application ID: SLN:
Telephone Verification
Residence Office
Telephone No: Telephone No:

Mobile No: Mobile No:
Req Tel (TNT) No: Req Tel (TNT) No:

Person contacted: Person contacted:
Rel. with applicant: Rel. with applicant:

Date & time: Date & time:
Physical Verification
Residence Office
Residence address: Company name & address:
Person contacted: Person contacted:

Rel. with applicant: Designation:
Years at current address: Nature of business:

Residence status: own Rent other Applicant’s designation:
Residence size: small Medium large Years at current org.:
Residence type: flat House other Company existence since:
Residence profile: Excellent good Fair poor No. of employees:

Date & time: Office size: Small medium large very
large
Company profile: Excellent good fair poor
Date & time:
Name of CPV field agent:

I do hereby declare that the information provided in this report is true and correct.
Seal & signature on behalf of the CPV Agent:
Annexure=13
Date
Ref:
Name 1
Address 1
Address 2
Address 3
Sub: Non payment of monthly installment.
Dear Customer,
Thank you for maintaining your valuable banking relationship with ……………………
Please be informed that your Personal Investment Account/...................... Investment account with us is overdrawn (as at date) for Tk. -----------
due to non-payment of monthly installment.
We would appreciate if you arrange to deposit sufficient amount in your deposit account to adjust the excess and to avoid compensation over
the overdrawn amount.
For any clarification, please feel free to contact our collections department at Tel : XXXXXXXX- XXX, XXXXXXXX.
Please disregard this letter if you have already deposited sufficient amount.
This is a computer-generated letter. It does not require any signature.
Annexure-14
FINAL REMINDER
Date
Name 1
Address 1
Address 2
Address 3
Dhaka
Dear Sir,
Your Investment Account No. XX XXXXXXX XX
Ref. Our previous letters
The overdue balance in your above Investment account as at date is BDT. XX,XXX.XX.
Despite our several reminders through our letters & phone calls, we regretfully note that you are not responding towards the regularization of the
dues of your above Investment account. This letter will be treated as final reminder for the payment.
Failure of placing the payment within 10(ten) days after the issuance of this letter will compel us to take the following actions:
1. Shall send your name as “Defaulter” Investment client to the Bangladesh Bank as well as circulate this to the all Banks and financial
institutions.
2. Shall employ collection agent/arbitrator.
3. Shall go for legal action against you.
Hope you will perceive the urgency of the issue and come forward to settle the dues this immediately. For any clarification please contact our
collection department at telephone numbers XXXXXXX - XXX Ext XXX.
Yours sincerely,
Signature
XXX XXXXXXXXX XXXXXX

XXXXXXX XXXXXXX
Copy : XXXXXX XXXXXX, as Guarantor

Annexure-15
FACILITY CALL UP
Date
Ref: --------------/ PL
Name 1
Address 1
Address 2
Address 3
Dear Mr.XXXXXXX,
Your Investment Account No : XX-XXXXXXX-XX

Present Outstanding : Tk. XX,XXX.XX
________________________________________________________________
Please be informed that your above Investment account has been irregular since long. Despite our repeated reminders through phone calls and
letters to your available address, it is apparent that you have neither taken any steps to rectify the irregularity nor put your accounts in order.
Accordingly we are constraint to cancel the above facility.
We therefore, call upon you to repay the entire outstanding liability against the above facility together with profit/compensation within 15 days
from the date of issuing this letter. Please note that in case of your failure to repay the Investment within the stipulated time, the Bank will initiate
such action against you as deemed appropriate under the law of the land at your cost and responsibility.
Hope you will come forward to settle the Investment account permanently within the stipulated time.
Should you require any clarification, please contact the undersigned at telephone Nos. XXXXXXX-XX Ext. XXX or XXXXXXX (direct).
Yours sincerely,
XXXXXX XXXXXXX XXXXX

XXXXX XXXXX XXX
Consumer Investment & Collections
Annexure-16
PROVISION REPORT
Date :
Currency : BDT
Branch :
Customer :
A/C No. :
Date A/C Opened : Date of Approval : Marketed by :
Recommended by : Approved by :
Facility Details :
Investment Decision :
Brief History :
Collection efforts :
Recovery Prospect :
Provision Requirement :
Total outstanding as at date

Less Security Proceeds
Provision Required
Recommended by : Supported by : Approved by :
Officer Collections Manager Collection Head of Consumer Investment & Collection

Annexure-17
Documentation Checklist for Consumer Investments for Unsecured Personal Investments
Sl Documents Document If not, justify

No. Obtained
1 Application Form duly completed and signed
2 Photograph of Investment client & Guarantor (s)
3 Letter of Introduction (signed by Head of HR as per our format)
4 Bank Statement of the Investment client (duly attested, minimum 6 months)
5 Valid Passport Copy / Driving License / other identification
6 Visiting Card of the Investment client & Guarantor
7 TIN Certificate
8 Personal Net-Worth Statement of the Investment client and Guarantor
9 Clearance Certificate from verification agent
11 Detailed Income-Expense Statement
16 Customer’s request letter to his / her company to issue Letter of Undertaking /

Corporate Guarantee (for Type-B)
17 Original copy of Corporate Undertaking / Corporate Guarantee duly signed by
authorized personnel of the company
18 Original or certified copy of Company’s Board Resolution for issuing Corporate
Undertaking or Corporate Guarantee
19 Letter of Offer duly signed & accepted by customer
20 6 months (minimum) Bank Statement (other bank)
21 Post dated cheques each eqv. to 6 monthly installment
22 One undated cheque for full Investment value including full interest to be taken in
advance
24 CIB clearance
25 Any other documents, pls. Specify

Annexure-18
Documentation Checklist for Consumer Investments (Businessman)
Sl. Documents Document If not, justify

No. Obtained
1 Application Form duly completed and signed
2 Photograph of Investment client & Guarantor (s)
3 Valid Trade License
4 Bank Statement of the Investment client (duly attested, minimum 6 month)
5 6 months (minimum) Business A/C Statement (specify bank name)
6 Valid Passport Copy / Driving License / other identification
7 Visiting Card of the Investment client & Guarantor
8 Personal TIN Certificate
9 Personal Net-Worth Statement of the Investment client and Guarantor
(in income column write the 60% AMI for businessman & if you consider the
income of the business, then also consider the expenditure of the business)
10 Clearance Certificate from verification agent
11 Price quotation for item to be purchased
12 Detailed Income-Expense Statement
13 Lease agreement of house/property (if any)
14 Valid Trade license
15 Memorandum & Articles of Association of the organization, if applicable
16 Post dated cheques each eqv. to 6 monthly installment
17 One undated cheque for full Investment value including full interest to be taken in
advance
18 Sufficient fund in the A/C for Investment processing fee & Stamp Charge
19 CIB report
20 Registration of vehicle on Higher-Purchase basis(Blue Book)
21 Comprehensive insurance over vehicle/professional tools
22 Original receipt of Fixed Deposit (duly discharged & verified)
23 Letter of Offer duly signed & accepted by customer
24 Any other documents (specify)

Annexure-19
Company Letter Head
Letter of Introduction
Date:
This is to certify that Mr/Mrs………………………………………. has been working in ……………………………………………………… (company)

since (date of joining).
He/She is a permanent employee of the company. He/She is currently is working in our ………………………..division / department
as……………………………………..
His /Her salary structure per month is as follows:
Gross Salary : BDT

Less: Deductions
Tax : BDT
Provident Fund : BDT
Investment Installment(s)* : BDT
Other deductions :BDT
(please specify)
Take-home Salary : BDT
(In words: Taka )
*Note: Investment Installment(s) means applicant's monthly Investment repayment to the company against the Investment(s) taken by him/her
from the company. It also should include the monthly installment amount paid by the employee for any other Investment from any other
Bank/Financial Institutions etc that the company is aware of.
This company shall inform the Bank in the event of the Investment applicant’s death, retirement, resignation, dismissal or termination from the
company.
Signature & Company Stamp

Name:
Designation:
Annexure-20
Company's Letterhead
LETTER OF UNDERTAKING
(From applicant's employer to XXX Bank)
The Manager
XXX Bank
Motijheel C/A
Dhaka.
Dear Sir,
Re: Investment to Mr./ Ms………………………………………………
In consideration of your granting a Investment of Tk. (Taka ) only (hereinafter called "the Investment") for a period of
years to Mr./ Ms……………………………… (Hereinafter called "the Investment client") who has been under our employment since (dd-
mm-yy) and whose monthly Take home salary is Tk. (Taka ) only (hereinafter called "the salary") and in pursuance of the
authorization of the Investment client dated (dd-mm –yy) we hereby agree and undertake to deposit the following to the Bank A/c of the
Investment client with you being A/c no………………….(hereinafter called "the Bank A/c"):
(a) Regularly Monthly Take-home of the Investment client.

(b) Investment client's provident Fund, Gratuity and any other benefit to which the Investment client or his legal heir or nominee will be entitled to
in the event of death, retirement, resignation, dismissal or termination of the Investment client arrived at after deduction of all dues to Employer's
Name. As of today, in case of separation for reasons mentioned above, his terminal benefits after deduction of all dues to Employer's Name will
be not exceeding Tk. (Taka )
only.
You shall be entitled to apply the said deposit towards repayment of the Investment and payment of interest and other charges accrued thereon.
We shall not at any time accept revocation of the said authority of the Investment client dated without your prior written consent.
We shall not at any time violate any of our obligations set out herein. In the event of our violation of any of our obligations set out herein, we
shall be liable to pay the entire outstanding along with profit of the Investment to you immediately, on demand as principal debtor without any
question or reference to the Investment client or as to the performance or breach of the terms and conditions of the Investment by Investment
client and we shall accept your statement as to the quantum of the amount demanded under this undertaking. But the amount shall not exceed
Tk. (Taka only).
This undertaking is firm, unconditional and irrevocable and shall not be revoked, terminated or discharged by us for any reason whatsoever.
This undertaking is valid and binding on us, our successors and assigns till the Investment together with interest and charged are paid to you in
full by the Investment client.
Nothing therein contained shall operate so as to merge or otherwise prejudice, effect or exclude any other security, guarantee or lien which you
may for the time being hold or would have held but for this security or any of the bank's rights or remedies under any security, guarantee or lien
or otherwise.
Yours faithfully,
Employer's Name
1. Authorized Signatory 2. Authorized Signatory

Designation Designation
Company's seal Company' seal
Annexure-10
Limit Insertion Instruction Form
SLA Status : Date

Customer's Name :
Facility No. Priority : Br No. :
Please arrange to set the limit of BDT :

in words BDT :
in the A/C with an Profit Rate of %

with the Expiry Date realizing the Commission of BDT +
15.00% VAT and the Stamp Charge of BDT
Remarks
Investment Admin Only :
Approved By : Input By :

(C) Manual - Consumer Financing

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(C) Manual - Consumer Financing

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CONSUMER FINANCING SCHEME

AL-ARAFAH ISLAMI BANK LIMITED

Consumer Financing Operation Manual

3.0 Target group:

3.2. Semi- Government Officials

3.5. Officials of Autonomous Bodies

3.7 Directors/Executives of reputed Private Ltd. Companies / Organizations

3.8. Teachers and officials of Public and Private Universities

3.10. Professionals like Doctors, Engineers, Dentist and Advocates etc.

3.12 Other self-employed persons/renowned individuals acceptable to the bank.

4.0 Scope of Financing:

5.0. Mode of investment

(Mode of investment to be determined depending upon the items to be purchased)

7.0 Condition for selection of client:

7.3 Ascertain/verification the permanent residential address of the applicant.

home/workplace, guarantor's residence /workplace.

Tax payment certificate also to be examined, if applicable.

8.0 Application for investment under Consumer Financing:

AIBL on payment of Tk. 200/- only.

9.0 Processing of the application:

9.5 The expenses shown in the Application Form are to be verified.

10.0. Sanctioning Authority:

11.3 Demand Promissory Note

11. 16. Sanction advice duly accepted by the client.

13.0 Monthly installment will be calculated as per following formula:

a) Installment of principal = Principal amount

(Principal + Installment of Principal) x Rate of Return x No. of Installment

14.0 Supervision, Monitoring & Recovery:-

will start after gestation period if allowed by the approval authority.

days of each month.

will be entitled to have rebate on profit for un-utilized period of investment.

for his observation and comments.

outstanding under the Scheme will be sent to the Head Office.

02. Auto/Car investment Scheme,

03. Personal Investment Scheme,

04. Professionals Investment Scheme,

05. House Financing Investment Scheme.

02. Maximum amount of investment

07. Rate of Returns & other charges:

a. Rate of return: 16% on net Investment.

08. Minimum Service / length of business of self employed individual etc.:

AIBL / continuous services of experienced banker joins from other bank(s).

For self employed individual, a business record of minimum 4 years

 Hypothecation over purchased assets.

norms & practice.

 Wage Earner’s Development Bonds

 Fixed Deposit Receipts

 Other form of bank deposits

 ICB unit Certificates

11. Verification of Personal Details and Quotation

Detail of an applicant to be verified before approval is accorded.

 Letter from employer with details of employment and salary

numbers of residence, office & mobile no.)

 Personal net-worth statement

 Quotation of the item to be purchased.

12. Substantiation/Certification of Income

Proper certification of income is mandatory.

accepted for the purpose:

 Last Tax Return

 Personal Net-Worth Statement

 Any other document that may stand as a proof of income.

2. Auto/Car investment Scheme

Product Program Guideline (PPG):