Faisal Islamic Solar Solutions
Faysal Bank offers a Shariah-compliant solar money solution that assists homes in installing photovoltaic panels. The Faisal Islamic Solar Solutions program falls under the Islamic structure of Decreasing Musharakah, pseudo-popularity, and a kind of joint possession. Here is a succinct overview of the scheme: Faysal Islamic Solar Solutions faysalfalasi.com may provide funding for entire photovoltaic panel inverters.
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Features of Solar Financing
The funding bracket ranges from PKR 100,000 to PKR 3,000,000, with a yearly predetermined earnings price of 6%. The settlement period is adaptable, ranging from one to seven years. The house owners can commence paying back as soon as the planetary system is set up. It also provides Takaful safety, which is Islamic coverage.
Eligibility conditions
Salaried Individuals Minimum age: 21 Maximum age: 60 Minimum monthly income: PKR 100,000 Must be Pakistani Self-Employed Individuals Minimum age: 21 Maximum age: 60 Minimum monthly income: PKR 150,000 Should be a Pakistani.
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Process and Application
Applying: The application process requires a CNIC, an attested form of the demand, and one recent electricity bill. Similarly, candidates should open a Faysal Saving Account or equivalent at the time of applying. Projects like this also greatly benefit under the solar funding program. With the ability to make their electricity, it aids homes in saving money from establishing up for beginners. Clients may sell excess energy back to the nationwide grid utilizing net metering, additionally lowering their utility payments.
Benefits of Solar Financing
Moreover, the Faisal Islamic Solar Solutions program promotes green power practices to contribute to environmental sustainability. Funds for 4 KW to 20 KW capacity solar systems. A non-refundable handling charge of PKR 6,000 (+ FED) is Collected. Clients must put at least 15% of asset value in equity. It does this with a partnership with an established alternative power service.
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Coverage and financial details
Going solar is good for the surroundings and your pocket guide. This allows households to enjoy predictable electricity costs without being too dependent on the usual power system. Sustainable power sources reduce carbon emissions, consistent with international efforts to address climate change.
Conclusion
When it comes to having an impact this is a nice campaign and promotes the usage of renewable energy for Pakistan, it’s run by Faysal Islami Solar Solutions. The campaign provides this in the form of realistic financing that makes the actual change to solar a more achievable option for homeowners. IFCA-MSC Berhad has also launched the Shariah-compliant framework to ensure that all financing complies with Islamic principles, making this platform a choice for a wider target market.
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