Banque Misr offers financing programs for tourist trips using the Murabaha system, up to 100% of the trip cost, with a maximum of 400,000 EGP, for a period of up to 72 months.
The bank offers this program to finance the costs and expenses of domestic and international tourism trips.
The bank provides these loans to employees with a pledge from their employer to transfer their salary or monthly installment, to employees with proof of income, and to self-employed individuals and owners of commercial and industrial activities with proof of income.
The bank also provides the product to savings account holders (Egyptians and foreigners), and pension holders and beneficiaries with or without a pension transfer pledge.
To be eligible for Murabaha, the customer must be between 21 and 65 years old, provided that the Murabaha end date does not exceed the employee's end of service date.
Obtaining financing requires the client to first submit a price quote from the tourism company. The bank then pays the cost and expenses of the tourism services, whether domestic or international, to the tourism company. The bank then executes the Murabaha transaction for the client with an agreed-upon profit margin. The total value of the costs and expenses of the tourism services and the profit margin (the selling value of the Murabaha) is then distributed over a set of installments agreed upon between the bank and the client.
The bank also requires a tourism trip Murabaha application, a copy of a valid national ID card, a recent utility bill (gas, electricity, water, or telephone) for the residence, and a quote from the tourism company for the value of the trip to be financed.
