Buyout (Debt Transfer)

meem‘s Buyout (debt transfer) is 100% Shariah compliant and is created to be simple, transparent and suitable to our customers’ needs. We simply review your current debt, consolidate it, and offer you the most competitive profit rate if you transfer it to us! Get more for less with meem.

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For New Customers

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For Existing Customers

Personal Finance (PF)


Administrative Fees

1%+VAT of the financing amount capped at BD105.

Cost of Commodity Delivery (when opting for Commodity Delivery)

BHD 210

Postponment of installment fee

  • if offered by the Bank,BHD 0 (free)
  • if requested by the customer, BHD 10.5 per postponement

Early Repayment Fees

1% of the outstanding credit facility amount or BHD 10.5 whichever is lower

Late Payment Charges*

BHD 15.75

Insurance Cost

BHD 0 (free)

Outstanding Balance / Release Letter

BHD 0 (free)

* The collected late payment fees are paid on your behalf for charity activities as per the guidelines and supervision of the Shari’ah Supervisory Board.


  • Up to BD 150,000 financing
  • Up to 84 months instalment plans
  • Takaful insurance – paid for by meem
  • Competitive profit rate
  • Possibility of early financing repayment
  • Low and transparent fees and charges
  • Easy application process via the meem app or online banking

Customer Eligibility and Criteria:

  • Available to all nationalities between the ages of 21-65
  • Available to pensioners with SIO
  • Salary or pension must be assigned to meem by Gulf International Bank
  • Minimum salary BD 400
  • Applicants must open a meem OnePack account to commence the application process
  • Applicant's employers will be considered as part of the risk criteria outlined by meem by Gulf International Bank

What is meem Buyout (debt transfer) ?
meem Buyout (debt transfer) facility, offers customers the opportunity to transfer their existing financial exposure to meem as a better rate than their current bank.

Is meem buyout (debt transfer) product Shariah compliant?
Yes, all meem products are 100% Shariah compliant. meem Buyout (debt transfer) product is based on the principles of Murabaha, for more information please call 17776336.

Do I need to visit a meem store to apply for meem buyout (debt transfer) product?
No, our aim is to make your life easier. With meem, you can apply and receive approval for your financing digitally through our app, a single visit is required to provide your signature and finalize your Buyout.

Should my salary be transferred and assigned to meem?
Yes. For more information, please call 17776336.

How long does it take to receive my financing?
We offer 24-hour disbursement if all your documentation is submitted and complete, and your salary has been assigned to meem.

What is the profit rate of meem Buyout (debt transfer) product?
For more about our rates please call 17776336.

What is the annual percentage rate (APR) for meem Buyout (debt transfer)?
For more about our rates call 17776336.

What is the minimum salary to be eligible to apply for meem Buyout (debt transfer)?
The minimum salary to apply for Buyout is BD 400 Terms and Conditions apply.

How can I calculate my financing amount?
You can calculate your financing amount using the Personal Finance Calculator - meem Digital Banking.

What are the required documents to apply for Buyout (debt transfer)?

  • Salary assignment letter
  • Salary payslips of the last 3 months
  • Outstanding letter from your existing bank
  • Bank statement