Please ensure Javascript is enabled for purposes of website accessibility
loader-img
overlay-circle

Search DIB

overlay-circle
Branches & ATMs Contact Us
chat-avatar
Fatima from DIB
Just now

Looks like you may be taking time to decide. May I help you with something?

Reply > No Thanks

Istisna

  • Flexible
    Operations
  • Multiple
    Finance Options
  • Flexible
    Repayment Options
Request Callback Find a branch

Istisna Financing

spotlight_istisna

Plan the future with Sharia-compliant finance solutions that support the construction of buildings, aircrafts, machine equipment and more.

what-is-istisna-390x220

What is Istisna?

Istisna is a Sharia mode of financing used to finance the construction of buildings, residential towers, villas and related products, as well as the manufacturing of aircrafts, ships, machines and equipment.

How it works:
As a customer, if you own a plot of land and want to construct property on it and need financing for this purpose, Dubai Islamic Bank will sign an Istisna agreement with you in relation to the construction of the building as per your specifications at the cost of the bank. The bank will then get the sale price from you on a deferred payment basis.

Show More

Terms Of Financing

  • Down Payment: Minimum 25% of total construction cost
  • Transaction Period: Up to 10 years
  • Payment Mode: Quarterly, Semi-annual or Annual terms are available

  • Source of Payment: Business cash flows, rentals
  • Pricing Rate: Fixed throughout the financing period
  • Security: First class mortgage on the plot and building, post dated cheques covering installments
  • Takaful (Islamic Insurance): Takaful policy covering the property under construction to be assigned to the Bank
  • Qualified Assets: Residential, Office Buildings and Villa Complexes

Show More

Documentation

With our team of skilled professionals, applying for Istisna finance is simple and stress-free, with primary documents varying based on requirement. Note that requirements may be lowered in cases where additional security is provided.

Primary Documents for Individuals:

  1. Valid passport copy
  2. Completed finance application form
  3. Site plan copy
  4. Title deed copy
  5. Feasibility study by project consultant
  6. Construction/Engineering plans

Primary Documents for Companies:

  1. Valid trade license copy
  2. Commercial Registry copy
  3. Partnership agreement copy (in case of partnerships)
  4. Chamber of Commerce and Industry copy
  5. Valid passport copies of partners (in case of partnerships)
  6. Valid passport copy of authorized personnel and copy of Articles of Association defining their powers
  7. Site plan copy
  8. Title deed copy
  9. Project consultant feasibility study
  10. Last 3 years’ financials
  11. Construction/Engineering plans

Show More
04 October 2024

Dubai Islamic Bank Celebrates Fifth Cohort of High Potential Programme, Paving the Way for Future Leadership

25 September 2024

Dubai Islamic Bank Champions Emirati Talent and Leadership at Ru'ya Careers UAE 2024

11 September 2024

Dubai Islamic Bank pledges AED15 million to support development of the Hamdan Bin Rashid Cancer Hospital

27 July 2024

Dubai Islamic Bank Announces Instalment Deferment Facility for Impacted Customers

23 July 2024

Dubai Islamic Bank First Half 2024 Group Financial Results

22 July 2024

Dubai Islamic Bank Leads Landmark $3.25 Billion Financing Transaction for GEMS Education

16 July 2024

Dubai Islamic Bank makes dreams come true: Four lucky winners take home one year's salary

23 April 2024

Dubai Islamic Bank First Quarter 2024 Group Financial Results

20 March 2024

Moving forward together: Dubai Islamic Bank teams up with Fitze for another first – the Ramadan “Move-a-Thon”

28 February 2024

Dubai Islamic Bank Shareholders Approve 45% Dividend for 2023

27 February 2024

Dubai Islamic Bank successfully prices USD 1 billion Sustainable Sukuk

14 February 2024

Dubai Islamic Bank Launches ‘SHAMS’ Credit Card in Partnership with Visa

23 January 2024

Dubai Islamic Bank Full Year 2023 Group Financial Results

16 January 2024

Dubai Islamic Bank Unveils 'DIB XTRA', an Exclusive Salary Transfer Campaign

19 December 2023

Dubai Islamic Bank Unveils 'Nest' – A Breakthrough in Green Living

13 November 2023

Dubai Islamic Bank Advocates for Climate Action at COP28 as an Associate Pathway Partner

07 November 2023

For a Sustainable Future: Dubai Islamic Bank Empowers Youth Financial Literacy

31 October 2023

Dubai Islamic Bank 3rd Quarter 2023 Group Financial Results

28 September 2023

Dubai Islamic Bank, a leading financial institution in the UAE, enters Turkish digital banking and financial technology sector via an equity investment in T.O.M. Group of Companies

25 September 2023

Dubai Islamic Bank announces One Tree for Everyone

Thank You