Procedures to be followed when requesting the issuance of a credit finance insurance policy:
Bring a letter from the bank.
Fill out the insurance application form.
The annual subscription rate is determined according to the annual subscription rate schedule.
The insured pays the annual subscription in cash or check.
The basic pillars of securing financing protection:
Achieving solidarity between the participants during the period of participation in the event of insolvency, permanent total disability or death.
The subscriber is considered a donor to the subscribers with the consent of the annual subscriptions.
The company manages the fund's risk business and manages the investment of surplus funds according to the mudaraba formula.
Subscription terms:
Fill out the subscription application with all the data in writing, and the subscription application and its documents are an integral part of the contract.
The contributor has completed eighteen years of age and does not exceed sixty-five years of age at the start of the subscription period.
Pay the first installment on or before the start of the subscription period as indicated in the schedule attached to the contract, which is an integral part of the contract.
The subscription begins and ends according to the dates indicated in the schedule attached to the contract.
Conditions for claiming Takaful benefits:
The subscriber shall inform the company in writing of the debtor’s insolvency, incapacity or death within (60) days from the date of his act of insolvency, disability or death.
Proof of insolvency, disability or death, together with the necessary documents, on the form prepared for this, within (120) days from the date of the contributor becoming aware of the insolvency, disability or death.
If the advantage arises from the debtor’s disqualification, the company may have the right to have him examined by a doctor it specifies.
Takaful benefits:
The subscriber is entitled to the remainder of the financing amount from the date of the debtor’s insolvency until the end of the coverage period.
The subscriber is entitled to the rest of the financing amount from the date of the debtor's disability until the end of the coverage period.
The subscriber is entitled to the rest of the financing amount from the date of the debtor’s death until the end of the coverage period.
Cases of non-entitlement to Takaful benefits:
If the insolvency, incapacity or death of the debtor is after the subscriber signed an application for withdrawal and deposited it with the company.
The debtor must pay the insurance premium before his insolvency, disability or death.
The contract shall be void if it contains fraud or deceptive behavior if it is issued by the subscriber or any person with a legal interest or benefit, and the subscriber is obligated to return any amount that the company has paid.
Terms of eligibility for Takaful benefits:
That the data mentioned in the insurance application are correct, and if it is proven that he has intentionally withheld essential data that breach the contract, the participant is deprived of the benefits of the insurance.
The contributor must have paid the full contribution installments due from him prior to the debtor's insolvency, incapacity or death.
The subscriber shall provide the company with legal documents proving the debtor’s insolvency, incapacity or death. In the event of death, the company shall be provided with the legal notification issued by the competent official authority.
A person is insolvent when bankruptcy or liquidation is proven by a court ruling.
Phone:+249 18 377 0705
E-mail:info@islamicinsur.com
Hotline:4400
First: Issuance of documents as follows:
Fill out the insurance application form by the insurance applicant or his agent.
Introducing the insurance applicant to the coverages and exceptions contained in the policy.
Inspect the farm subject to insurance.
Receipt of certificates from the veterinary authorities (vaccination and health status certificate).
Receipt of a detailed list of animal numbers.
Handing over to the insured the insurance certificate, the policy, and any other appendices.
Second: Payment of claims after preparation as follows:
Notification of a claim is done by filling in the Claims Declaration Form.
After receiving the claim permit form, the following documents will be received (insurance certificate - veterinary report - any other documents)
An initial examination is conducted by the employee to confirm the claim and an examination by a veterinarian.
Extracting the insured's claim.
Livestock insurance policy:
The company (Islamic insurance company) is obligated to cover death cases only for insured animals during the period specified in the insurance policy or for a period of thirty days after the date of the end of coverage in case of death as a result of illness, injury or accident that occurred during the validity period of the policy and the company was notified about it.
the conditions :
The insured animal must be free from any disease, wound or injury and must be fully vaccinated according to the certificate of a competent authority.
This policy covers the insured animal as long as it is in the possession and ownership of the insured personally. The document is canceled automatically and immediately in the event of the sale of the animal or the partnership, if it is temporary or permanent.
If the animal is offered for sale or offered in competition during the validity period of the policy and the price set for it in this case is less than the price allocated for it in the policy, the insurance value will automatically fall to the new price.
The animal must remain within the geographical area specified in the insurance contract.
The animal shall not be used except for the purposes stated in the insurance contract and which are commensurate with its nature.
The insured shall provide full care for the insured animals.
In the event of an animal disease, the animal owner provides, at his own expense, the veterinarian and allows the animal to be evacuated from its place if necessary.
In the event of the death of an insured animal, the owner of the animal, at his own expense, must bring a doctor to perform the autopsy of the animal to determine the cause of death.
If the company pays compensation to the insured and the death was the result of a third party's fault, the insured must provide all possible assistance and documents for the company to recover its right from that party.
The insured has the right to stop the validity of the insurance at any time he wants with a written request to the company, and then the other pays the entitlement from the premiums at the expense of the short period. The company may also stop the insurance by sending a letter to the insured five days before the date of suspension.
Phone:+249 18 377 0705
E-mail:info@islamicinsur.com
Hotline:4400
1. Cash insurance: cash insurance against all risks (except for exceptions) and includes several types:
Cash in the safe: The insurance covers cash in the safe against the risks of fire and burglary
Cash in transit: The insurance covers cash in transit to and from the bank
Cash at the counter: This type of insurance covers the theft that occurs to money and the like during its circulation through the counter during official working hours, provided that the theft occurs from third parties (other than the employees of the insured)
Cash at ATMs: This type of insurance covers fire and theft of money inside ATMs within 24 hours, provided that the theft occurs from third parties (other than the employees of the insured)
2. breach of trust insurance policy:
The breach of trust document covers material losses to the insured (the business owner) in his money or property as a result of the commission of the trustee (the insured) an accident of waste or embezzlement while performing his job duties
3. Personal Accident Document:
It covers death and injury that the insured may be exposed to as a result of a sudden accident, and the insured determines the amount of insurance
4. Workers' Compensation Document:
Covers workers against the risks of injuries during working hours and at the workplace or deportation to and from the workplace. The employer submits the workers’ salary statement to the party requesting insurance, and the insurance amount is calculated at 42 months’ salary for each worker.
5. Civil Liability Document:
This document covers the civil liability of the insured towards other parties
Phone:+249 18 377 0705
E-mail:info@islamicinsur.com
Hotline:4400
Salama Insurance Provides Motor Comprehensive and Third Party Liability motor insurance converage includes loss or damage to the insured vehicle against the accidents, theft and fire according to the terms, conditions and exclusions as declared in the policy.
Procision of a replacement vehicle
Drivers and Passengers personal accident
Natural disasters, Towing, Theft and fire
Towing - at accident only
Our policy complies with the Unified Third Party Insurance Policy issued by the Saudi Arabian Monetary Agency (SAMA).
E-mail:info@alsalama.sd
Hptline and phone:3313
Salama Cooperative Insurance Company provides a comprehensive cover for healthcare that complies with CCHI regulations through the appointed health service providers with high standards. We cover corporate groups and SME's through various Medical Products
E-mail:info@alsalama.sd
Hotline and phone:3313
SALAMA Travel Care Insurance provides comprehensive travel insurance coverage to our valued corporate and individual clients on their overseas trips. The plan typically covers death, personal accidents, medical expenses, repatriation, loss or delay of checked baggage, passport loss and third party liability.
E-mail:info@alsalama.sd
Hotline and phone:3313
Salama Coorporate Insuranceoffers Comprehensive Medical Malpractice insurance coverage, which is mandetory in the kingdom of saudi arabia for all registerd medical practicioners including but by no means limited to Physicians,Dentists, Nurses, Therapists, Optometrists, Emergency Medical technicians, Surgical & Non-surgical paramedical staff as well as Veterinarians.
Phone and hotline:3313
E-mail:info@alsalama.sd
SALAMA is leading provider of Sharia compliant General Insurance Products with a portfolio of more than 25 General products.
Phone and hotline:3313
E-mail:info@alsalama.sd
They are on-demand accounts that do not participate in profits and do not bear losses. The bank charges expenses for the services provided to these accounts. Current account holders have the right to deposit funds in cash, checks, or transfers, and withdraw funds in cash through bank branch tellers, ATMs or points of sale. This account is available to individuals, companies, private institutions, social organizations, clubs, and others.
This account has several features, including:
1. Check book.
2. A free ATM card, and its advantages:
-Using the ATM card to withdraw money through the Al-Baraka ATM or the Sudanese network ATMs, in addition to the networks of other countries such as the Kingdom of Bahrain, the State of Qatar, Egypt and Lebanon.
Paying the value of purchases with institutions and shops in Sudan through points of sale.
3. Detailed quarterly account statement (free of charge) or upon request.
4. Account standing orders.
5. Internal and external transfers service.
6. The possibility of opening the account in different currencies (Sudanese pound, Saudi riyal, UAE dirham, US dollar, British pound and Euro).
For more information, please visit one of our branches
Phone and hotline:2820
E-mail:info@albaraka.com.sd
Profit savings accounts
Profit savings accounts are specially designed to meet the needs and requirements of customers who authorize the bank to invest their deposited funds on the basis of mudaraba. Its dealers can deposit or withdraw funds at any time, and profits are calculated every six months on the basis of the lowest balance during the month.
Savings accounts without profits
Saving accounts without profits are not participating in the profits and do not bear the losses and the bank does not charge them for bookkeeping expenses.
Savings accounts have several advantages, including:
1. Free savings book.
2. A free ATM card, and its advantages:
- Using the ATM card to withdraw money through the Al Baraka ATM or the Sudanese network ATMs, in addition to the networks of other countries such as the Kingdom of Bahrain, the State of Qatar, Egypt and Lebanon.
Paying the value of purchases with institutions and shops in Sudan through points of sale.
3. Account statement (upon request).
4. Account standing orders.
5. Internal and external transfers service.
6. The possibility of opening the account in different currencies (Sudanese pound, Saudi riyal, UAE dirham, US dollar, British pound and Euro).
For more information, you can visit one of our branches.
Phone and hotline:2820
E-mail:info@albaraka.com.sd
Documentary credit is one of the most important means of payment for the completion of foreign trade transactions. A documentary credit represents a pledge by the bank to open the credit at the request of the importer, whereby he is obligated to pay the value of the import documents submitted to him by the bank with which the credit is opened for the benefit of its exporting customer, who is the beneficiary in accordance with certain conditions and controls included in the credit. Thus, accreditation is a factor of reassurance for both the exporter that he has received the value of his goods after they have been shipped, and for the importer that the goods conform to the specifications he wants.
Documentary credits are of two types:
1) Inform:-
It is the undertaking of the bank that opened the credit to pay the value of the goods, provided that the documents indicating the goods are matched with the terms of the credit, and at the same time an authorization from the bank that opened the credit to the bank by debiting the amount of the credit from its account upon receiving from the beneficiary the documents that conform to the terms of the credit.
2) Deferred documentary credits: -
It differs from sighting credits in that the beneficiary gives the importer an additional payment period so that he can release the goods before the payment is executed, and this is usually done by the importer signing a bill of exchange in favor of the beneficiary with the value of the credit, specifying a later date for payment according to the agreement between them. Automatically, the issuing bank is responsible for paying that bill of exchange, even if the importer does not pay it when it becomes due.
Preparing the necessary documents for import, the most important of which is the import quota if the instructions of the competent authorities require it as a kind of rationalization of import operations to determine the quantities and items allowed to be imported within the limits of economic conditions.
Reviewing the client’s request to open the credit: (import license, pro forma invoice, etc……).
Data required from the client to open the accreditation:
Determine the method of opening the credit.
- Determine the name of the correspondent in the country of the beneficiary.
Determine the type of link in the accreditation.
The name of the supplier (the beneficiary) must be complete and clear, as well as his address.
- The value of the accreditation in numbers and letters and the type of currency.
Marine sales contracts.
- Validity of the accreditation.
Phone and hotline:2820
E-mail:info@albaraka.com.sd
In the field of import operations, Al Baraka Bank Sudan pays the value of imports in the following ways:
1. Letters of credit briefed.
2. Letters of credit accepted.
3. Documents against payment.
4. Documents for acceptance.
5. Advance payment.
Import credits (information/acceptance)
Al Baraka Bank Sudan is always ready to deal with all requests related to opening documentary credits, to import raw materials, capital goods and consumables for local consumption.
The Bank offers its clients short and long term facilities in order to finance their commercial activities. These facilities may be provided in relation to capital goods of machinery, equipment, raw materials and merchandise by way of credits, deferred or unconfirmed, for payment or upon sight.
Steps for issuing a letter of credit
1. The customer submits to the bank an application expressing his desire to issue a documentary letter of credit specifying the terms and deadlines and attaching a valid initial invoice and a copy of the exporters and suppliers register.
2. The bank studies the application, determines the cash margin and the guarantees required to ratify the issuance of the letter of credit.
3. The bank issues the documentary letter of credit after the cash margin is satisfied and the customer has submitted the guarantees and the marine insurance document.
4. The bank charges a fee for the documentary credit.
import
Al Baraka Bank Sudan is always ready to deal with all requests related to documentary collections, except for documents against payment or documents against acceptance, for importing raw materials, capital goods and consumable materials for local consumption. Provided that the customer has a valid record of exporters and suppliers.
outgoing
1. Letters of credit briefed.
2. Letters of credit accepted.
3. Documents against payment.
4. Documents for acceptance.
5. Advance payment.
6. Under sale.
Al Baraka Bank Sudan is always ready to deal with all export operations after the customer submits a valid export contract explaining the method of paying the value of exports approved by the Ministry of Foreign Trade with a copy of the valid exporters and importers register.
For more information, you can visit one of our branches.
Phone and hotline:2820
E-mail:info@albaraka.com.sd
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