ila News

Manama, Bahrain: ila Bank,Bahrain’s leading digital mobile-only bank powered by Bank ABC, has launched alburaq Islamic Personal Finance, a fully digital Sharr’a-complaint financing solution designed to further fulfil customers personal ambitions and financial needs. To commemorate the launch, customers will have the opportunity to win back up to BHD 20,000 of their financing amount.

Offered under ‘alburaq’, ila Bank’s exclusively digital Islamic banking proposition, the new personal finance solution delivers a seamless, end-to-end digital experience, built on a Commodity Murabaha structure. Customers can complete every step of their financing journey, from application and approval to signing and disbursement directly through the ila Bank app, without the need to visit a service centre.

Starting from BHD 1,000, alburaq Islamic Personal Finance offers competitive profit rates and flexible repayment terms, providing customers with a convenient and accessible financing solution tailored to their individual needs. Customers can also transfer existing financing facilities from other banks in Bahrain to alburaq, making it easier to consolidate and manage their financial commitments through a single, user-friendly digital platform.

The launch marks another important milestone in ila Bank’s journey to deliver innovative, customer-centric financial solutions that reflect the diverse lifestyles, aspirations and preferences of its growing customer base.

Customers who apply for alburaq Islamic Personal Finance or transfer an existing finance facility to alburaq before 31 March 2027 will be entered into a draw for the chance to win up to BHD 20,000, which will be used to settle part of or all their financing amount. Two alburaq Personal Finance customers will be selected on April 20, 2027.

Whether customers are looking for additional financing flexibility, funding for personal goals, or a more rewarding Islamic financing solution, alburaq Islamic Personal Finance offers an opportunity to turn those ambitions into reality.

Commenting on the launch, Khalil Saleh, Product Manager – Assets at ila Bank, said:

“The launch of alburaq Islamic personal finance represents an important milestone in our commitment to expanding customer choice through innovative digital banking solutions. By combining a fully digital journey with a Shari’a-compliant financing structure, we are delivering an accessible and convenient solution that caters to diverse customer preferences while remaining firmly rooted in Islamic banking principles. Since inception, ila Bank has been redefining the banking experience through simplicity, innovation and customer-centricity, and this latest offering marks another step forward in empowering customers to achieve their financial goals with confidence.”

For more information about alburaq Islamic Personal Finance, including eligibility criteria and application requirements, please visit www.ilabank.com.