Trade Finance Operations

Through its team of experts, SIIB provides a wide range of international trade finance services that includes:

- Outward letters of credit (import LCs) and all the related operations such as documents negotiation, examination, amendment and paying their value at sight or through deferred payment based on the LC's terms and conditions.

- Inward letters of credit (export LCs) and all the related operations such as advising and confirming LCs as well as examination of documents and paying or collecting their value based on the LC's terms and conditions.

- Documentary collection (import & export)

- Checks collection (domestic and international)

- Issuing all kinds of domestic and international bank guarantees (bid bond, performance, payment … etc)

All the above mentioned services are performed in accordance with the rules of Islamic Sharia, the applicable Syrian laws, the circulars issued by the Central Bank of Syria and the related International laws and customs.


Ijarah is a lease contract that is applied on investments financing, it is a mid to long term financing that complies with the rules and principles of Islamic Sharia. It has many features among them are:

1- It allows them to renew their old equipment and benefit from the latest developments in technology;

2- It helps them avoid freezing their money on the mid-term and long-term caused by acquisition either by self-financing or by investment financing, where in Ijarah the annual expenses are only limited to leasing during the period of Ijarah, which makes it preferred by the companies that are seeking more balance in maintaining their financial position.

Ijarah has become a very popular means of financing in recent years since it gives the customer tax advantages as the rent can be fully deducted from income or corporate profits and therefore could be offset against income / corporate taxes by the lessee..


Murabaha (cost plus profit sale) is a contract of deferred payment sale of a product at a price which includes a profit margin pre-agreed upon by both parties.

The Bank purchases the desired product from a third party (or supplier) and sells this product to the customer for a pre-agreed price (cost-plus-profit basis). Murabaha is one of the most commonly used models of financing by Islamic financial institutions to fulfill the needs of the customers. It is attractive to the merchants due to its safety as well as many other features such as:

- The profit is known to the buyer and there will be no penalties for late payment;

- A suitable grace period for the first installment can be granted upon the customer request;

- Consultation and technical services are included.

The mechanism of Murabaha contract is very simple: The customer chooses what he desires to buy, the Bank makes the purchase and assumes ownership then sells the product to the customer at pre-agreed upon profit over the cost price. The customer pays for the purchased product in accordance with the pre-agreed contract.

Repayment plans vary according to the nature of the product being financed and the capital life cycle. It ranges between 180 to 360 days for certain products and raw materials and it could reach up to 5 years for fixed assets (property and machinery).

Banking Services to Business Sector

Based on our deep understanding of our clients' financial needs and through a leading team of experts, SIIB offers a package of services and banking solutions that include but are not limited to long term financing and the financing of working capital, projects, contracts … etc. Such a package suits various sectors (industrial, commercial, real-estate ….).
All the offered financings are Islamic Sharia compliant and based on concepts like Murabaha, Ijarah, Istisnaa …. As well as other Islamic contracts.