RETAIL LIABILITY PRODUCTS

RETAIL LIABILITY PRODUCTS Shari'ah Compliant

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MASRUFI CURRENT ACCOUNT Enjoy the best of both worlds with the Masrufi Account which has been specially tailored for self employed business people for a convenient and affordable banking experience. BENEFITS • No hidden charges • Access to all our personal finance and investment products CURRENT • 24 hour access to cash through ATM network of over 1,000 ATMs FEATURES ACCOUNTS • Flat fee Kshs. 500 monthly • Maximum of 20 free transactions per month and a charge of Kshs. 30 per transaction thereafter • Free cash transfers within our GAB branches Shari'ah Compliant • VISA Debit ATM card REQUIREMENTS FOR ACCOUNT OPENING • Minimum opening and operating balance of Kshs. 2,000 • Copy of national ID/Passport • 2 recent passport size photographs • Reference from employer/Introduction letter from existing customer • Copy of latest utility bill • Copy of KRA PIN certificate

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TIJARA ACCOUNT

Gulf African Bank supports the need for financial • 2 passport size photographs management in business. This account is designed • Introduction letter from existing customer to allow you more control over the fees and account • Copy of latest utility bill/Proof of residence activity in support of your business. • Copy of KRA PIN certificate BENEFITS • No hidden charges LIMITIED COMPANIES • Access to all our business finance and investment • Certified copy of memorandum and articles products of association together with certificate of FEATURES incorporation Shari'ah • Board resolution authorizing the opening of the Compliant • Monthly maintenance fee of Kshs. 400 account • Ledger fees of Kshs. 30 per transaction • Free cash handling • 2 passport size photographs for the authorized signatories REQUIREMENTS FOR ACCOUNT • Copy of national ID/Passport of authorized OPENING signatories • Minimum opening and operating balance of Kshs. 2,000 • Copy of company KRA PIN certificate • Copy of national ID/Passport/Alien or military TIJARA certificate ACCOUNT 4 5 RETAIL LIABILITY PRODUCTS RETAIL LIABILITY PRODUCTS

BIASHARA ACCOUNT Designed for businesses with moderate banking • Board resolution/mandate authorizing the opening volumes, and for those who prefer to take advantage of of the account a bundled fee for a pool of services. • 2 passport size photographs for the authorized signatories BENEFITS • Copy of national ID/Passport of authorized • Access to all our business finance and investment signatories products • Copy of company KRA PIN certificate • Dedicated relationship manager • Certificate of registration FEATURES • Partnership deed

Shari'ah • Flat-fee of Kshs. 700 monthly Compliant • Maximum of free 20 transactions per month, and a charge of Kshs. 30 per transaction thereafter REQUIREMENTS FOR ACCOUNT OPENING • Minimum opening and operating balance of Kshs. 2,000 • Certified copy of memorandum and articles BIASHARA of association together with certificate of incorporation ACCOUNT 6 7 RETAIL LIABILITY PRODUCTS RETAIL LIABILITY PRODUCTS

UMMA ACCOUNT Gulf African Bank supports giving back to the society REQUIREMENTS FOR ACCOUNT through the Umma account which is specially tailored OPENING for charitable institutions and organizations to facilitate cost effective and hassle free banking. • Minimum opening and operating balance of Kshs. 10,000 BENEFITS • Copies of ID/Passport of authorized signatories • No outward remittance charges • Copy of company KRA PIN certificate • No incoming EFT charge • Certificate of incorporation • Access to all our business finance and investment • Board resolution/mandate authorizing the opening products of account Shari'ah Compliant • Dedicated relationship manager • 2 passport size photographs of the authorized signatories FEATURES • Certified copy of memorandum and articles of • No monthly charges association • No ledger fees • Cheque book available UMMA ACCOUNT 8 9 RETAIL LIABILITY PRODUCTS RETAIL LIABILITY PRODUCTS

UJIRA ACCOUNT For Salaried individuals who only want to pay as they use, Ujira account is the best fit for you. FEATURES • Free cash transfers within our GAB branches • VISA Debit ATM card • Cheque book available upon request • Counter withdrawals by cheque book will be charged at Kshs. 30

REQUIREMENTS FOR ACCOUNT OPENING

Shari'ah • Minimum opening and operating balance of Kshs. 1,000 Compliant • Copy of pay slip • Copy of national ID/Passport/Alien or military certificate • 2 passport size photographs • Reference from employer/Introduction letter from existing customer/Copy of latest utility bill • Copy of KRA PIN certificate

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SASA ACCOUNT At Gulf African Bank we know that financial • One free banker’s cheque for school fees quarterly independence is a culture that is nurtured from an early • Free incoming standing orders age; which is why we have a product that suits every child for parents who care about the future of their • At the age of 18yrs child is automatically migrated children! The Smart Account Savers… because it’s the to the Taleb Account (student) first steps that matter! REQUIREMENTS FOR ACCOUNT BENEFITS OPENING • Free coin bank with every account opened • Minimum opening and operating balance of • Discounted rates at selected partner outlets Kshs. 1,000 Shari'ah • SASA account ID card for use at select discount • 1 passport size photograph of guardian Compliant outlets • Annual Fun Day • Copy of national ID/Passport of guardian • Profit paid if balance is maintained at • Copy of birth certificate of child Kshs. 10,000 and above

FEATURES • No monthly charges SASA • Free cash transfer within our Gulf African Bank ACCOUNT branches 1212 13 RETAIL LIABILITY PRODUCTS RETAIL LIABILITY PRODUCTS

ANNISAA ACCOUNT At Gulf African Bank we fully understand the financial FEATURES needs for women; which is why we have taken it upon ourselves to design and package a unique product just • Specialized VISA Debit ATM card for you. The Annisaa account! • No ledger Fees BENEFITS • No monthly fees • Priority service at the Annisaa centre and Annisaa • Free internal standing orders teller counters at selected GAB branches • Exclusive instructional seminars conducted REQUIREMENTS FOR ACCOUNT annually OPENING Shari'ah • Cheque book available Compliant • Minimum opening & operating balance of • Discounts at select partner outlets Kshs. 1,000 • Free interim statement • Copy of national ID/Passport • Profit paid into account monthly, provided • 1 Passport size photograph balance maintained at Kshs.10,000 and above • Introduction letter from existing customer/Copy of • Free account to account cash transfer within Gulf latest utility bill African Bank ANNISAA • Access to all our business finance and investment ACCOUNT products 1414 15 Let us help you makeRETAIL your LIABILITY lifetime PRODUCTS dream a reality! RETAIL LIABILITY PRODUCTS

HAJJ ACCOUNT

The Hajj account is tailor-made to assist you realize your lifetime dream of fulfilling one of the fundamental pillars of Islam, pilgrimage to Mecca. By opening a Hajj Account you will be able to grow your Hajj Savings through halal earnings, moving you a step closer towards making your lifetime dream a reality. BENEFITS • Option to make travel arrangements with our prequalified Umrah/Hajj partner Agencies of GAB • One free bank draft when travelling for Umrah/Hajj • Free semi-annual statements • Free account to account transfers within all Gulf African Bank branches

Shari'ah FEATURES Compliant • No ledger fees • Free standing orders into the Hajj account • No monthly service charges • Profits will be paid into accounts quarterly, provided that the account balances are retained above Kshs. 10,000 REQUIREMENTS FOR ACCOUNT OPENING • Minimum opening and operating balance of Kshs. 1,000 • Copy of national ID/Passport HAJJ • 1 passport size photograph ACCOUNT • Introduction letter from existing customer/Copy of latest utility bill 1616 17 Watch your savingsRETAIL grow LIABILITY as you PRODUCTS save for that rainy day. RETAIL LIABILITY PRODUCTS

HAZINA SAVINGS ACCOUNT

We appreciate your need of placing your hard-earned cash in a safe environment, with the aim of watching your savings grow as you save for that rainy day. Thus we have designed the Hazina Savings account having the “true saver” in mind. This account will provide you with the chance of receiving a profit payout depending on your account balance, is easy to open and operate. BENEFITS • Profit paid if account balance maintained above Kshs. 10,000 • Access to all our personal finance and investment products FEATURES • No ledger fees Shari'ah Compliant • Cash handling fee for amount above Kshs.1.5M • VISA Debit ATM card REQUIREMENTS FOR ACCOUNT OPENING • Minimum opening and operating balance of Kshs. 1,000 • Copy of national ID/Passport • 1 passport size photograph • Introduction letter from existing customer/Copy of latest utility bill HAZINA SAVINGS

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TALEB SAVINGS ACCOUNT We understand that today’s students have a number of needs as well as interests and demand flexibility in their banking choices. This account offers flexible and affordable banking solutions-the perfect choice for today’s students. Keep track of your expenses while saving your money, making life in college stress-free and more enjoyable! BENEFITS • One free banker’s cheque per quarter • Free cash transfers within GAB • Affordable • Easy to open • 24 hour access to cash through ATM network of over 1000 ATMs

Shari'ah FEATURES Compliant • VISA Debit ATM card • No monthly fees • No ledger fees REQUIREMENTS FOR ACCOUNT OPENING • Minimum opening and operating balance of Kshs. 200 • Copy of national ID/Passport • Admission letter or student ID Let us take care of your financial needs • 1 passport size photograph while you take care of your interests bila stress! TALEB SAVINGS ACCOUNT 2020 21 Your money shouldRETAIL be LIABILITYwhere your PRODUCTS heart is…. RETAIL LIABILITY PRODUCTS

DIASPORA SAVINGS The Diaspora savings account is particularly designed for Kenyans in the Diaspora who wish to send money back home, either for assistance to their family, savings towards building their dream home, their children’s education, or for investment in businesses. BENEFITS • Preferential rates on foreign exchange transactions • Quick and easy global transfer of funds through our corresponding banks • Access to our mortgage finance products • Access to our investment products (Term deposits at preferential rates) • Free transfers within GAB accounts and beneficiaries • Account opening forms can be downloaded from our website Shari'ah Compliant FEATURES • No monthly maintenance fees • No ledger fees REQUIREMENTS FOR ACCOUNT OPENING • Minimum opening and operating balance of Kshs. 1,000 • Original and copy of national ID/Passport • 2 recent passport size photographs DIASPORA • Copy of latest utility bill in customer’s name /Latest bank statement (should not be more than 3 months old)/ SAVINGS Introduction letter by existing customer 2222 23 RETAIL LIABILITY PRODUCTS RETAIL LIABILITY PRODUCTS

THAMANA TRANSACTIONAL ACCOUNT Hassle free banking with access to a high volume of transactions We understand your requirement for a high volume of • Monthly fee is waived for customers who maintain transactions and thus we have designed specifically for a minimum balance of Kshs. 1M and above you the Thamana Transactional account, which will • No Ledger fees provide you with an attractive negotiated profit share TRANSACTIONAL payout and absolutely no charges for all high value depositors. REQUIREMENTS FOR ACCOUNT ACCOUNTS BENEFITS OPENING • A dedicated relationship manager • Minimum opening and operating balance of Shari'ah • Funds earn high profit Kshs. 1,000 Compliant • Profits paid monthly for balances maintained • Copy of national ID/Passport above Kshs. 100,000 • 2 passport size photographs • Introduction letter from existing customer/Copy FEATURES of latest utility bill • One free cheque book (25 leaves) • No LCY cash handling charges • Monthly fee of Kshs. 1,000

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TERM DEPOSIT ACCOUNT Place your funds using our fixed deposit account and earn profit for the your chosen duration of investment. BENEFITS • Earns profits on a pro-rata basis • One can withdraw at maturity or reinvest for further period of your choice FEATURES RETAIL ASSET • Period of investment can be any one of the following • 30 days PRODUCTS • 90 days • 180 days Shari'ah • 365 days Compliant REQUIREMENTS FOR ACCOUNT OPENING • Minimum investment amount of Kshs. 50,000

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HOME FINANCE

At Gulf African Bank we enable you to own your own home. This product is designed for individuals who want to purchase residential property in major urban centres. BENEFITS • Competitive profit rates • Personalized service • Free financial consulting • Access to other GAB finance products

Shari'ah FEATURES Compliant Repayment tenor is up to 20 years

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REQUIREMENTS MORTGAGE FACILITY PROPERTY’S SALE PRICE BANK FACILITY OWN CONTRIBUTION • Duly completed facility application form • Duly signed sale agreement/vendors offer letter/draft sale agreement • Pay slips for the last 3 months OWN OCCUPATION Below Kshs.10 Million 80% 20% • Letter of introduction from employer

Above Kshs.10 Million 70% 30% • Mode of repayment can be done by check-off/salary transfer/debit order. • Copy of title deed in respect of property being financed Repayment Period of 20 Years • Certified bank statements for the last 6 months • Copy of ID/Passport • Copy of KRA PIN Certificate • 3 passport size photos • Commitment levels at 50% of income

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AUTO FINANCE This product is designed for salaried individuals who want to purchase new or used vehicles. BENEFITS REQUIREMENTS • Access to other GAB finance products • Duly completed facility application form • Competitive profit rates • Pay slips for the last 3 months • Personalized service • Letter of introduction from employer • Free financial consulting • Original/Certified bank statements for the last 6 months • Flexible monthly installments up to 48 months • Copy of ID/Passport & Copy of KRA PIN Certificate • The product is shari’ah compliant • 3 colored passport size photos • Copy of log book for vehicle FEATURES • Commitment levels at 50% of income Shari'ah • Financing both new and used cars • Proforma Invoice/Sales agreement and Compliant • Financing from a minimum of Kshs.500, 000 Original Valuation Report

ASSET TYPE STATUS PERCENTAGE OF PAYMENT PERIOD FINANCING

Personal Motor Vehicle NEW Up to 80% Max 4 Year

USED:1-5 Years Up to 70% Max 4 Year AUTO USED:5-7 Years Up to 70% Max 3 years FINANCE 32 33 RETAIL LIABILITY PRODUCTS RETAIL LIABILITY PRODUCTS

PERSONAL FINANCE REQUIREMENTS Gulf African Bank offers convenient access to financing enabling you to pay school fees, settle medical bills or to • Duly completed facility application form purchase home appliances. • Duly signed sale agreement • Pay slips for the last 3 months BENEFITS • Letter of introduction from employer • Access to other GAB finance products • Certified bank statements for the last 6 months • Competitive profit rates • Copy of ID/Passport & Copy of KRA PIN Certificate • Personalized service • 3 passport size photos • Free financial consulting • Submit school fees structure, medical bill/quotation or a proforma invoice • Turn around processing period of 4days • Commitment levels at 50% of income FEATURES

PRODUCT CLASS PURPOSE FINANCING RATIOS FACILITY LIMIT SERVICES To meet personal 100% of amount Minimum Kshs.100K (Twarruq) needs e.g. school fees applied for subject to & Medical Bills qualification Maximum:Kshs.2.0M

WHIT GOODS To purchase White Up to 90% of amount Minimum Kshs.100K (Murabaha product) Goods e.g. furniture, applied for subject to electronics & other qualification Maximum:Kshs.2.0M home appliances

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PLOT FINANCE This product is designed for individuals who want to purchase plots to build residential properties. BENEFITS • Access to other GAB finance products • Personalized service • Free financial consulting • Turn around processing period of 4days • Repayment period of up to 5 years

FEATURES Shari'ah FACILITY TYPE FACILITY LIMITS BANK FACILITY OWN CONTRIBUTION Compliant Residential plots Up to Kshs. 20.0 million 50% 50%

REQUIREMENTS • Duly completed facility application form • Copy of KRA PIN certificate • Duly signed sale agreement • 3 passport size photos • Pay slips for the last 3 months • Vendor’s offer letter/draft sale agreement or a PLOT • Letter of introduction from employer duly executed sale agreement. • Certified bank statements for the last 6 months • Copy of title to property being purchased FINANCE • Copy of ID/Passport • Commitment levels at 50% of net income 3636 37 RETAIL LIABILITY PRODUCTS RETAIL LIABILITY PRODUCTS

DIASPORA MORTGAGE FINANCE Diaspora Mortgage is designed for Kenyan individual in the Diaspora looking to purchase residential properties within major cities in Kenya. BENEFITS • Competitive profit rates • Repayment period of up to 10 years FEATURES MORTGAGE TYPE FACILITY’S LIMIT BANK FACILITY OWN CONTRIBUTION Home finance Min:Kshs.1.0 M Shari'ah (residential property) Max:Kshs.20.0M 70% 30% Compliant

REQUIREMENTS • Must have held GAB account for a minimum of 3 months • Duly completed facility application form • Pay slips for the last 3 months • Letter of introduction from employer confirming employment status (starting terms, retirement age, salary etc.) DIASPORA Must be a permanent job MORTGAGE FINANCE • Certified bank statements for the last 6 months 3838 39 RETAIL LIABILITY PRODUCTS RETAIL LIABILITY PRODUCTS

Our branches • Copy of ID/Passport • A valid visa and work permit (certified copies) 1. HEAD OFFICE 6. ENTERPRISE-NAIROBI • Copy of PIN Certificate Email: [email protected]; Email: [email protected] [email protected] Geminia Insurance Plaza Addis Ababa road, off enterprise road • 3 passport size photos P.O. Box 43683 -00100 Nairobi P.O. Box 43683 – 00100 Nairobi • Vendor’s offer letter/dr.aft sale agreement or a duly executed sale agreement Tel: +254-20-2740000/2740111 Tel: 020- 652140 • Copy of title to property being purchased 2. UPPERHILL BRANCH- NAIROBI 7. WESTLANDS BRANCH • Commitment levels at 50% of net income Email: [email protected] Email: [email protected]; Geminia Insurance plaza, ground floor - Kilimanjaro [email protected] West Building Avenue P.O. Box 43683 -00100 Nairobi P.O. Box 43684 – 00100 Nairobi Tel: 020- 3749847 Tel: 020- 2740000 8. NKURUMAH BRANCH-MOMBASA 3. KENYATTA AVENUE-NAIROBI Email: [email protected] Email: [email protected] Najat house, After G.P.O Junction Nkrumah road. Same Hughes building, Kenyatta Avenue, ground floor street with T.S.S towers, Power & lighting Co, opposite P.O. Box 45337 – 00100 Nairobi Habib bank. Tel: 020-316902 P.O. Box 81189 – 80100 Mombasa Tel: 041-2319570-4 4. EASTLEIGH BRANCH 1 - NAIROBI Email: [email protected] 9. JOMO KENYATTA MOMBASA Eastleigh Mall building, General Wariunge Street Email: [email protected] P.O. Box 16015 – 00610 Nairobi Kasa building, Jomo Kenyatta Avenue Tel: 020- 2332226 P.O. Box 81189 – 80100 Mombasa Tel: 041-2490209 5. EASTLEIGH SHARIFF CENTRE - NAIROBI Email: [email protected] 10. MALINDI BRANCH Shariff center building, 1ST Floor - Jam Street Email:[email protected] P.O. Box 16015 – 00610 Nairobi Blue marlin building Lamu road. Tel: 020- 6768523 P.O. Box 2062 – 80200 Malindi Tel: 042-2120711 40 41 RETAIL LIABILITY PRODUCTS RETAIL LIABILITY PRODUCTS

11. LAMU BRANCH Email: [email protected] Old Telkom office, Jomo Kenyatta road P.O. Box 191- 80500 Lamu Tel: 042-4632246

12. BONDENI - MOMBASA Abdel Nasser Road P.O. Box 81189 – 80100 Mombasa Tel:041 -2312370/69/70

13. BOMBOLULU Email; [email protected] P.O. Box 81189-80100 Mombasa Tel: 0716881116 Mombasa- malindi road Shari'ah Compliant 14. GARISA BRANCH Email:garissa[email protected] Al-Waqf Quran house 1st floor – Kismayu Road P.O. Box 694 – 70100 Garissa Tel: 046-2102051/2102071/2102072

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Excellence. Trust. Together.

For more information, visit your nearest Gulf African Bank branch or call Tel:- 2740000/0711075111 Email: [email protected] Shari'ah Tweeter: @gulfafricanbank Compliant Facebook: The Gulf African Bank

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