Retail Finance

Personal Finance is based on a Murabaha arrangement through trading of Shari'a compliant commodities. Customers can receive the financed amount credited immediately in their account by selling the commodities in the market.

  • Finance available to UAE Nationals and Expatriates
  • Finance amounts up to 20 salary multiples
  • Flexible payment tenures of up to 48 months
  • Financing available to salaried and self employed customers
  • Competitive profit rates
  • Quick processing
  • Nominal processing fees
  • Minimal documentation
Minimum Salary
AED 5000 p.m
Age criteria
21+ years
Length of Service
Confirmed or 6 months
  1. Completed application form
  2. Copy of valid passport with valid UAE residence visa for expatriates
  3. Copy of Emirates ID Card
  4. Last three months bank statements
  5. Salary transfer letter / salary certificate (for salaried customers only)

Auto Finance is developed to give you an amazing experience for buying new and used cars of your choice. Offering you highly competitive profit rates with flexible payment plans.

  • Finance available for new and used cars
  • Salary Transfer not Mandatory
  • Finance amounts up to AED 500,000
  • Competitive profit rates
  • Flexible repayment tenures of upto 60 months
  • Financing available for comprehensive vehicle takaful (insurance)
  • Easy processing and documentation
Minimum Salary
AED 5000 p.m
Age criteria
21+ years
Length of Service
Confirmed or 6 months
  1. Completed application form
  2. Copy of valid passport with valid UAE residence visa for expatriates
  3. Copy of Emirates ID Card
  4. Last three months bank statements
  5. Salary transfer letter / salary certificate (for salaried customers only)
  6. A quotation or proforma invoice from the dealer for new vehicles
  7. For used cars, a valuation certificate is required from an approved dealer or an ownership title is required

Goods Murabaha product is offered under Murabaha mode of Islamic Finance. Through Goods Murabaha, Al Wifaq will help you procure the goods of your choice and paying it later on.

  • Finance available to UAE Nationals and Expatriates
  • Finance amounts up to 20 salary multiples
  • Flexible payment tenures
  • Finance available to salaried and self employed customers
  • Competitive profit rates
  • Quick processing
  • Nominal processing fees
Minimum Salary
AED 10,000 p.m
Age criteria
21+ years
Length of Service
Confirmed or 6 months
  1. Completed application form
  2. Copy of valid passport with valid UAE residence visa for expatriates
  3. Copy of Emirates ID Card
  4. Last three months bank statements
  5. Salary transfer letter / salary certificate (for salaried customers only)
  6. Quotation of goods to be purchased from the supplier in the name of Al Wifaq

Service Ijarah products are offered under Ijarah mode of Islamic Finance. Through Service Ijarah, you can avail financing for Travel, Education, Wedding, Rent and many other personal financial needs.

  • Finance for UAE Nationals and Expatriates
  • Finance amounts of up to 20 salary multiples
  • Flexible payment tenures
  • Financing available to salaried and self employed customers
  • Competitive profit rates
  • Quick processing
  • Nominal processing fees
Minimum Salary
AED 10,000 p.m
Age criteria
21+ years
Length of Service
Confirmed or 6 months
  1. Completed application form
  2. Copy of valid passport with valid UAE residence visa for expatriates
  3. Copy of Emirates ID Card
  4. Last three months bank statements
  5. Salary transfer letter / salary certificate (for salaried customers only)
  6. Quotation of services to be availed from supplier should be in the name of Al Wifaq

Home Mortgage Finance is to suit your Mortgage needs. We offer financing for residential and commercial properties. We do offer refinancing options for customers who may already own a property or availing of a mortgage with another institution. Through our pre-approved option, you have the advantage of searching the property of your choice with a confirmed and approved finance facility in hand.

  • Finance available to UAE Nationals and Expatriates
  • Available to salaried and self employed customers
  • Financing up to 80% of the current market value of selected property
  • Flexible Payment tenure of up to 25 years
  • Competitive profit rates
  • Easy processing and documentation
  • Nominal Processing fees
  • Salary transfer not mandatory
Minimum Salary
AED 15,000 p.m
Age criteria
21+ years
Length of Service
Confirmed or 6 months
  1. Completed application form
  2. Copy of valid passport with valid UAE residence visa for expatriates
  3. Copy of Emirates ID Card
  4. Last six months bank statements
  5. Salary transfer letter / salary certificate (for salaried customers only)
  6. Liability Letter
  7. Last six months pay slips
  8. Property Title Deed
  9. MOU/SPA between buyer and seller

Liabilities Settlement product is offered to settle your outstanding facilites with other banks with flexible peyments terms and competitive profit rates.

  • Finance available to UAE Nationals only
  • Higher Financing amount
  • Flexible payment tenures
  • Competitive profit rates
  • Minimal documentation and nominal processing fees
Minimum Salary
AED 10,000 p.m
Age criteria
21+ years
Length of Service
1 Year
  1. Completed application form
  2. Copy of valid passport
  3. Copy of Emirates ID card or Family Book
  4. Last six months bank statements
  5. Salary transfer letter
  6. Liability Letter
  7. Employment Letter

Al Wifaq Titanium Credit Card is fully Shari'a compliant credit card offered under Qard Hassan mode of Islamic Finance. It is free for life credit card with no annual or membership fee.

  • Available for UAE Nationals and Expatriates
  • Offered under Qard Hassan mode of Islamic Finance
  • Higher Credit Limit
  • Many benefits including free road side assistance
  • No annual fees
  • Quick Processing
Minimum Salary
AED 8,000 p.m
Age criteria
21+ years
Length of Service
Confirmed or 6 months
  1. Completed application form
  2. Copy of valid passport with valid UAE residence visa for expatriates
  3. Copy of Emirates ID Card
  4. Last three months bank statements
  5. Salary transfer letter / salary certificate (for salaried customers only)