Apply for personal finance

Apply for the Emirates Islamic Personal Finance

How to apply, documents required and tracking

Find out how to apply for the Emirates Islamic Personal Finance, what documents you need and how to track your application

Our Personal Finance application process is simple, quick and with minimal documentation.


  • Minimum monthly salary of AED 10,000 for UAE Nationals and for UAE Residents.
  • Length of service - Minimum one month/first salary credit into your Emirates Islamic Account.
  • Minimum age of 21 years.
  • Maximum age of 65 years for UAE Nationals and 60 years for UAE Residents at the time of maturity.
  • Tenure - 48 months (Standard debt settlement) and 300 months (Special debt settlement).

Learn more about the Emirates Islamic Personal Finance.

If you’d like to talk to us, register your interest and one of our Personal Finance Experts will get in touch with you within 48 hours.

Apply for Personal Finance

You can apply for the Emirates Islamic Personal Finance through one of the channels below:


If you’re self-employed, you can apply for Personal Finance only through our website or by visiting one of our Business Banking Centers.


What’s Next?

Your application will be processed within 7 to 10 working days. Once your application is approved, the Bank will sell you shares/commodities which you may liquidate, and amount will be transferred to your Emirates Islamic Account.

Required Documents

We require the following documents to process your Personal Finance Application. If you don’t have any of them, or if you have any question, please visit your nearest Emirates Islamic branch and one of our representatives will be happy to help.

  • Completed Application Form.
  • Copy of Valid Passport with valid UAE Residence Visa for expatriates (original documents required for verification).
  • Last three months Bank Statement.
  • Salary Transfer Letter/Salary Certificate (for salaried customers only).
  • Account Opening Form for shares trading.
  • Liability Letter (for buyout cases only).
  • Trade License (for self-employed customers only).

If additional documents are required, we’ll inform you during the application process.

Fees and Charges

  • Finance Processing Fee: 0.7875% of the Finance Amount (Min AED 525, Max AED 2,625).
  • Takaful Fees: 0.01194% x Finance Amount x Tenure (months).
  • Takaful Fees for Pilot & Cabin Crew: 0.01618% x Finance Amount x Tenure (months).

Above rates are applicable for up to 5 years and are minimum and indicative only.

Learn more about Personal Finance Fees and Charges.

Track your Personal Finance Application

If you’ve already applied for Personal Finance, you can track your application by contacting our Call Centre on +971 600 599 995.


Murabaha is a form of Shariah compliant sale contract whereby Emirates Islamic (as a seller) sells the Certificates to the Customer for a price equal to the Certificate Cost (the finance amount) plus the Murabaha Profit.

The Personal Finance product by Emirates Islamic is a Shariah compliant solution which is based on the purchase and sale of Shares, Commodities or Certificates which client can keep or liquidate in order to generate cash.

The Certificates are Shariah compliant Certificates deposited in Nasdaq Dubai. The value of each certificate is USD 10.00-. The Certificates represent a common share in Shariah compliant assets such as Sukuks, equity, real-estate assets etc..

Once the Murabaha Sale is executed, you then have 2 options:

  • Option 1: Advise us of your Custody Account Number with Emirates NBD Securities L.L.C. to which the Financing Asset will be transferred upon completion of the Murabaha Contract; or
  • Option 2: Authorise Emirates NBD Securities L.L.C. to sell the Financing Asset to a third party on your behalf and transfer the sale proceeds thereof to your Account with Emirates Islamic

You have full liberty to choose any of the above 2 options to complete the trading process.

If you have not chosen any of the above options by the cut-off time, then we will consider that you are appointing Emirates NBD Securities L.L.C as an agent to sell the Certificates owned by you to another party on your behalf and transfer the sale proceeds to your Account with Emirates Islamic.

  • A Personal Loan is money you borrow and pay back with interest over multiple years
  • However, Personal Finance is a Shariah compliant contract, where the Bank sells an asset at a profit, as Islamic Banks are prohibited from charging interest. So, this product is Usury/Riba free
  • Islamic Banks offer liquidity - in a Shariah compliant way by trading Shares, Commodities or Certificates which can help the Customer to settle his outstanding debt with another bank
  • However, Conventional Banks buyout the loan without any Shariah arrangement

As per Shariah, it is impermissible to buy a loan at discount .

  • Borrower in a Conventional Bank undertakes to pay a penalty in case he delays in settling installments on due dates. These amounts are taken as additional profits for the Bank
  • Financee in an Islamic Bank undertakes to pay a penalty which will be donated to charity and the Bank does not benefit from those amounts
  • Conventional Bank is a financial body which receives money from the depositors against fixed rate of interest and it offers liquidity to borrowers against interest. And it is governed by conventional banking laws
  • Islamic Bank is a financial body which executes commercial contracts like sale & purchase, leasing, or construction and are governed by Islamic banking laws which allow financial bodies to carry on commercial activities for profitable purposes
  • As per Loan arrangement, the borrower needs to return money to the exact lender from whom he borrowed
  • However, Financing is a commercial contract based on sale & purchase, leasing, or construction
  • All banking products offered by Islamic Banks are based on financing
  • Borrower is a person (or entity) who borrows money from someone else
  • Financee is a person who agrees to settle a deferred price payable upon execution of a sale & purchase, leasing, or construction contract
  • Interest is any increment earned over and above the loan amount which is not permissible as per Shariah
  • Profit is any additional revenue generated through various trade activities. Earning profit is permissible as per Shariah


Islamic Banks do not earn any interest on their financings, rather they generate profits through entering various commercial activities like sale & purchase, leasing, construction etc.

  • Installments paid by a Borrower in a Conventional Bank represents repayment of a previously taken loan
  • However, installments paid by the Finance Customer in an Islamic Bank represents payment of the sale price, lease rentals or service charges.