Mashreq’s Personal Finance Remit allows you to transfer funds in a single transaction. Ideal for buying a new property or renovating an old one and there’ll be no fees or charges from us.
What is Murabaha?
It is a sales contract of a tangible asset for a profit mark-up over and above the cost of the asset and an agreed mode of payment. In Murabaha the seller must reveal the cost to the buyer. The Bank buys and item and sells it to the customer on a deferred basis. The price includes a profit margin agreed by both partners.
Conveniently remit to any bank account or beneficiary in your home country.
Discover our Happiness Account which offers a guaranteed joining bonus and a host of other benefits.
Tenure up to 48 months (60 months for Ministry of Defence employees).
Our fast processing means that approval can take as little as 24 hours.
Mashreq Al Islami Personal Finance Remit is a bundled facility offered only to those customers who want a finance from Mashreq and transfer the funds to their home countries or to international destinations, for Investment or any other purpose.
Minimum monthly salary requirement starting from AED 5,000 for approved companies & AED 10,000 for unapproved companies.
Employer need not to be part of the approved list of companies with Mashreq
The finance installment along with the overall regular monthly instalments should not exceed 50% of the monthly salary
Terms and conditions apply
There will not be any charges (Processing Fee and Takaful fee will be waived) on your Personal Finance, if the entire finance amount is transferred with Mashreq to a destination outside the United Arab Emirates. Remittance fee charged by Mashreq Bank will be waived-off. However applicable correspondent Banks’ charges will apply.
No, this offer is only valid on fresh Personal Finance and will not be applicable on buy-out or top-up cases.
In order to be eligible for Personal Finance Remit benefits, you need to transfer the entire finance amount.
Yes, existing account holders with Mashreq and with no active Personal Finance can apply under this programme.
Foreign currency rates decided by Mashreq on the day of transfer will be applied. Once your Finance is approved, you will be called by a Mashreq representative to confirm the exchange rates before transferring the funds
In case of disagreement on the exchange rates, you will be given an option to continue the finance by paying all the applicable charges (Processing fee and insurance charges) or to cancel the finance.
To apply for a Personal Finance Remit, you can visit any Mashreq Branch, apply online or call us on +9714-424-4411. You can also SMS “PLRM” to 4250 to have our representative get in touch with you.
In order to apply for Personal Finance Remit, you need to provide standard Personal Finance documentation and Fund Transfer details.
1. Valid Passport Copy with valid residence visa for expatriates
2. Valid Emirates ID
3. Salary transfer letter from employer as per Mashreq format or salary certificate for Government / semi Government
4. Latest 3 months Bank statements with salary credits Terms & conditions apply
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