Document background
The Individual Loan Agreement is designed for use in Qatar when a financial institution extends credit to an individual borrower. This document ensures compliance with Qatar's Civil Code, banking regulations, and Sharia principles, making it suitable for various personal financing needs such as home purchase, vehicle acquisition, or personal expenses. The agreement contains all essential elements required by Qatar law, including clear identification of parties, detailed loan terms, profit rate calculations (structured to comply with Islamic finance principles), security arrangements, and enforcement provisions. It protects both lender and borrower interests while maintaining compliance with Qatar Central Bank regulations and consumer protection requirements. The document is typically used in conjunction with various supporting documents such as security agreements and disbursement requests.
