This product is tailored to cater for students in different levels of education ranging from primary level education to higher level education; various courses leading to diplomas, degrees offered by registered academic institutions that are accepted by Amana Bank.
We have two arrangements of offering this product:-
1. Direct Aid Universities’ Students Financing Scheme:These facilities (grants and loans) shall be offered only to undergraduate students of Sumait University and Muslim University of Morogoro. Click Here to get the application form and see the requirements for these facilities.
2. Amana Bank Elimu Financing Facilities:These facilities shall be offered to students of all levels ranging from nursery to Ph D levels provided that we have Memorandum of Understanding (MoU) with the intended institutions. Click Here to get the application form and see the requirements for these facilities.
- Sharia Compliant financing arrangement
- Financing courses that are acceptable by sharia.
- Facilities are issued for students attending local or overseas academic institutions.
- Flexible and reasonable repayment periods.
- The financing amount will depend on customer’s ability to pay and security arrangement.
- Flexible collateral arrangement.
- Maximum payment period of up to 18 months.
- No hidden charges.
- Sharia Compliant Solution for those who desire to avoid interest-based loans.
- Will help academic institutions (schools and universities) to increase enrollment.
- Will help academic institutions (schools and universities) to collect education fees (fee, meals and accommodation) timely.
- Will help parents to pay education fees on flexible installments.
- Will help students to study the program(courses) of their choice.
- For Elimu financing to work, there must be a Memorandum of Understanding (MoU) between Amana Bank and the respective academic institutions.
- The applicant should have account with Amana Bank.
21-Feb-2019 // TZS