Fincorp Credit Limited (“Fincorp Credit”) is a “credit only” financial institution. As a one stop shop financial institution, Fincorp Credit provides the following core services:
We have interest rates dependent on the products you choose. Refer to products on this website and the loan calculator
The rationale behind the prohibition of interest in Islam suggests an economic system where all forms of exploitation are eliminated in particular, Islam wishes to establish justice between the financier and the entrepreneur
Islamic banker invest funds received from depositors under sharia complaint modes of financing such as Ijara, Murabaha and investment contracts such as Wakala to generate profit. The profits generated will be shared between the bank and its depositors based on a certain ratio.
No, Islamic banking is for all individuals regardless of their religious beliefs.
The most important difference between Islamic and conventional banking is that Islamic banking must follow the Shariah. Islamic banking must also avoid activities such as Riba’ or Gharar (uncertainty).
Yes, can be charged in order to encourage financial responsibility and to recover administrative expenses. Such funds will channeled to charity under guidance from Shari’ah Board.
Simply, Riba is interest. “Any amount, over the principal, in a contract of loan or debt is ‘Riba’ prohibited by the Holy Quran, regardless of whether the loan is taken for the purpose of consumption or for some production activity.”
We have not introduced the title deed product but it is in the process
Fincorp is a credit only institution
Head office is located at Ecobank Towers 11th floor, Thika branch -@Thika bazaar 2nd Floor and Meru branch @ solco Plaza 1st Floor
Coming soon