Q&A

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.

To provide accurate information about the markup, we need to know the amount and term you select, which are entered after registration. This allows us to calculate the cost specifically for your situation.

Your personal data is securely protected and handled strictly in accordance with the legislation of the Republic of Kazakhstan. We do not share your data with third parties without your consent. If your financing application was declined, this decision was based solely on an assessment of your repayment capacity, according to regulatory requirements, and not on suspicion of fraud.

Islamic finance may seem more expensive because the funds issued are halal, not borrowed. This means the bank operates only with clean, Shariah-compliant sources, such as customer deposits and investments from clients who also wish to earn income according to Islamic principles. These funds are not connected to prohibited industries (alcohol, gambling, weapons, etc.) and do not carry interest.

Additionally, 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.

In the case of early repayment, a recalculation is applied. You pay only for the actual term of Islamic financing. This allows you to save, as the final amount will be less than the amount calculated for the entire term under the contract.

The decision to provide financing is made after a thorough assessment of your repayment capacity and compliance with regulatory requirements. Registration in our app does not guarantee automatic approval.

All products undergo review by the Zaman Bank Shariah Supervisory Board. This includes: review of contracts and structures, approvals on new products, regular audits. Licenses and documents related to Islamic operations are available on the “About the Bank” page.

Late-payment penalties are not income for the bank. All such funds are donated to charitable causes.