Diminishing Musharakah, the concept:

Diminishing Musharakah is a Shirkah (partnership) based transaction through which DIBL and its customer contribute their equity at an agreed ratio for the purchase/ construction/renovation of residential property.· DIBL's equity share is divided into monetary units subject to purchase by its customer periodically until such time that the ownership is transferred in the name of the customer.· Besides purchase of DIBL’s share periodically, the customer utilizes the usufructs/benefits of the residential property and pays agreed consideration to DIBL, periodically.· Musharakah Agreement, Monthly Payment Agreement and Undertaking to Purchase the Musharakah Units, the customer shall create mortgage over the property in favor of DIBL as continuing security for the obligations of the customer under the Housing Finance

Salient Features:

House Purchasing

• DIBL's maximum financing up to 85%.
• Minimum Limit PKR 500,000/-; Maximum Limit PKR 20,000,000/-.
• Minimum Tenor 3 Years; Maximum Tenor 20 Years.

House Construction

• DIBL's maximum financing up to 75%.
• Minimum Limit PKR 500,000/- Maximum Limit PKR 10,000,000/-.
• Minimum Tenor 3 Years; Maximum Tenor 20 Years.

House Renovation

• DIBL's maximum financing up to 75%.
• Minimum Limit PKR 500,000/- Maximum Limit PKR 4,000,000/-.
• Minimum Tenor 2 Years; Maximum Tenor 7 Years.

Balance Transfer Facility

• Transfer of conventional housing loan to DIBL's Shari’ah complaint housing finance facility.
• DIBL's financing equivalent to outstanding balance of conventional house loan.
• Minimum Limit PKR 500,000/- Maximum Limit PKR 20,000,000/-.
• Minimum Tenor 3 Years; Maximum Tenor 20 Years. Minimum Eligibility*
• Applicant should be a resident Pakistani.
• Minimum age 24 Years; Maximum age 65 Years or expiry of financing tenor, whichever is.
• For business and self-employed, at least 2 years business experience.
• For salaried person(s) at least 2 years employment.
• Applicant monthly income should match DIBL's minimum income criteria.

All agreements/documents are approved by DIBL’s Shari’ah Advisor.
* Conditions apply