Islamic Finance
of Islamic finance
Justice
responsibility and risk
Transparency
and fully disclosed
Real economy
services, and projects
at ZAMAN BANK
and certified to meet Islamic standards.
a Shariah-compliant form of Islamic financing.
How Murabaha works for the clients
at Zaman Bank:
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1You review the terms and submit an application for financing in the Zaman Bank app.
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2We complete the transaction on your behalf: the bank purchases a commodity (e.g., an exchange-traded good) and sells it to you at a fixed price with a markup.
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3The commodity is sold on the exchange, and you receive the funds in your account.
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4You use the funds for your needs — renovation, education, electronics, or other purposes.
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5You repay the amount in installments according to the agreed schedule.
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No interestOnly a clear markup, fixed at the beginning and and does not change until the end of the contract -
Transparent termsEverything is stated in the contract with no hidden fees or commissions -
Every transaction is reviewed by the Shariah Supervisory BoardWhich ensures full Shariah compliance -
Available to all clientsNot limited to Muslim clients
a Shariah-compliant investment deposit that allows you to earn an expected return.
How the «Wakala Zaman»
deposit works:
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1You open a deposit in the Zaman Bank app and make an initial contribution of 50,000 tenge.
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2You receive monthly expected profit, which may reach up to 20% per year when placed for 3 years.
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3You choose how you want to receive profit: add it to the deposit or receive it in your account.
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4At the end of the term, you receive the full deposit amount together with accrued profit.
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Expected returnThe rate is stated in the agreement but not guaranteed, and depends on actual investment performance -
Each product is reviewed by the Shariah Supervisory BoardConfirming compliance with Islamic standards -
Available to all clientsNot limited to Muslim clients
of riba
loans. Profit only from actual
transactions.
No risky, gambling, or ambiguous
transactions.
of haram activities
are only in halal sectors:
no alcohol, gambling, tobacco, etc.
sharing
Profit and losses are shared between
parties — fairly and transparently.
Interest, prohibited in Islam. Any form of income earned without effort or risk, solely from lending, is considered unfair and haram.
Uncertainty, ambiguity, or excessive risk in transactions. Deals with unclear terms, outcomes, or speculative nature (e.g., gambling, “blind” trading) are prohibited.
A markup sale. The bank purchases an asset and resells it to the client with an agreed markup. Used as a Shariah-compliant alternative to consumer credit.
A partnership where one party provides capital and the other provides management and effort. Profits are shared as agreed, while financial losses are borne by the investor.
A group of Islamic scholars who review and certify that products and services comply with Shariah principles. Without their approval, a product cannot be considered halal.
A leasing contract. The bank remains the owner of the asset while the client makes rental payments and may have the option to purchase the asset at the end of the term. Everything that is prohibited in Islam: alcohol, gambling, pork, pornography, etc. Investments or income related to haram activities are considered unacceptable.
Anything permitted under Shariah. In Islamic finance, it refers to fair, transparent transactions with no interest, no speculation, and support for the real economy.
Mandatory annual charitable donation in the amount calculated as a set proportion of a Muslim’s wealth.
the answer to your question, please contact support.
A markup in Islamic banking is not the same as an interest rate in conventional banking. It is set once and remains fixed for the entire term of the contract, regardless of inflation, market rate changes, or other economic factors.
A markup is a pre-agreed amount that represents the bank’s profit from a trade transaction. In our products, it may be calculated using percentage-based formulas, which serve only as a mathematical tool for convenience. This does not make the markup riba. It is fully Shariah-compliant and recognized in Islamic banking.
We operate based on full transparency. From the very beginning, the client knows the exact total amount they will need to repay. Our products have no hidden fees or additional charges. The markup is fixed at the start and remains unchanged until the end of the contract, which complies with the principles of fair Islamic finance.
It is important to understand that the markup may sometimes be higher than interest in conventional loans. This is because Islamic banks work only with halal funds, not with interest-bearing money (riba). This approach is cleaner, aligns with Shariah principles, and avoids anything prohibited. Such transactions carry barakah, as they are based on real trade, not usury.
The calculator on the website provides an estimate so you can assess your options in advance. The final payment amount is determined upon signing the contract, when the exact start date and the number of days in each month are taken into account.
We are currently working on an improved calculator that will provide more accurate estimates from the very beginning to minimize any discrepancies.