Tawarruq personal financing is a tailored program that gives you easy access to cash in a Shari’a compliant manner.
Tawarruq is a sharia compliant finance method, with which you can raise loan finance through buying installments in a local commodity, owned by the Bank. The applicant then authorizes whom he see's to sell his shares in the commodity according to the form approved from the sharia’a committee. Then the agent deposits the proceeds into his account.
Approved by Riyad Bank’s Shari’a Committee.
Possibility of financing pensioners up to the age of 72
For salary transfer financing, all outstanding balance will be waived in case of customer’s death (may God forbid)
For Personal Finance APR disclosure, click here