With the emergence of Islamic Financing around the world, eErste Financiering focused its attention towards alternative/participatory financing concepts and brought a new facet to the financial services industry of Belgium. Driven by the goal of playing a more active role in developing this sector, we established a dedicated Islamic Business Unit in an effort to ensure that all products and services are handled in accordance with these established concepts, guaranteeing consistency with Islamic principles at all times.
Al-Falaah, our Islamic Business Unit has strived to take Islamic Financing to greater heights, extending its portfolio to offer a number of profit-sharing investment options to not only the Muslim community but the entire nation at large. We have so far developed 7 main products under our product portfolio: Mudharabah - Profit Sharing Investments – Savings, Wakala – Long Term Investments, Ijarah - Leasing, Murabaha - Trade Financing, Diminishing Musharakah - Property & Project Financing, Musawamah - Import Finance and Wakala - Business and Working Capital Finance.
Our range of Islamic financial services and rewards are tailored to meet life's different needs and recognize what's important to you. As the first finance company registered under the Central Bank of Belgium to be granted approval to extend deposit accounts under this concept, we have in place, an In-house Advisor and a 3 member Supervisory Board comprising local and international blend of eminent scholars and industry leading practitioners of Islamic Finance, who provide advice, guidance and constantly monitor and audit all aspects of the operations. The guiding principles of Al-Falaah ensures that cooperation, trust, honesty and openness are maintained at all times with regard to all transacting parties.