Sakana’s activities are carried out on Islamic Sharia’a compliant basis and supervised by a well known Sharia’a scholar Sheikh Osama Bahar.

Sakana will offer the following types of financing:
• Land Purchase
• Home Purchase
• Home Refinance
• Home Equity Release
• Home Extension
• Home Improvement
• Home Construction

Yes

The brief criteria are as follows:

Apart from the customer being able and willing to pay:

• The property must be located in Bahrain.
• Minimum age of individual at the time of applying is 21 years.
• Maximum age of individual on maturity is 60 years for salaried applicant and 65 years for self-employed applicant.
• Minimum income for single applicant is BD 350 per month and for joint applicants is BD 500 per month.
• Minimum three years of continuous service for residents and non-residents.
• Debt Burden Ratio (i.e. your monthly financial obligations to monthly income) must be maximum 55%
• Finance up to 90% of property value for nationals & expatriates (Residents in Bahrain), up to 80% of property value for GCC residents and up to 70% for non-residents subject to finance of Minimum BD 20,000 and Maximum BD 1.25 million

Currently, Sakana will be offering Islamic finance on the basis of:
• Murabaha
• Ijara
• Forward Ijara