Gold Mortgage

The International Islamic Bank provides you with the service of mortgaging the gold receipts according to the Islamic method, and you can benefit from the service of mortgaging the gold records and meet your wishes in exchange for keeping the gold for a period determined by the customer (maximum of one year)

Controls and requirements for the mortgage of gold receipts:
1- Opening a savings account in the International Islamic Bank
2- Knowing and evaluating gold by the expert, and to know its market value, the customer incurs commissions for these services:
• Bank fees
• Fees of the expert
• Character fee
• Fees for the file
3- Organizing the Murabaha contract between the customer and the bank

Mortgage Procedures:
1- The citizen who wishes to pledge the gold receipts reviews the bank and submits the receipts to the committee for mortgaging the gold receipts.
2- The goldsmith examines the logs and determines their caliber and weight, and does not calculate the value of the fragment or stone added to the gold (the weight of the rounded gold is devoid of accessories).
3- The employee calculates the facilities’ value, and it will be mentioned later on calculating the financing value.

Method for calculating the weight of gold:
1- The jeweler determines the weight of the rounded gold and calculates the net weight of gold (net weight means the weight of gold, any available caliber, and this is proven in the mortgage form).
2- A specialized jeweler checks the discharges and calculates the weight and the amount of financing.