FREQUENTLY ASKED QUESTIONS (FAQ)
WHO IS JISLAH FINANCIAL SERVICES LIMITED?
JISLAH is a Non-Bank Financial Institution. It is licensed under Bank of Ghana Operating License number FNB 0103 to operate as a Finance House.
HOW LONG HAS JISLAH BEEN OPERATING?
JISLAH commenced business in March 1995 and has been a member of Ghana Club 100 since 2012.
It was Ghana’s 3rd Fastest Growing Company for the year 2012 and 46th company in 2015 Ghana Club 100 Awards by Ghana Investment Promotion Centre.
WHERE CAN I FIND JISLAH?
JISLAH is headquartered in Kokomlemle, off the Royalt Castle Road, Accra. It has a branch office in Takoradi.
WHAT IS THE CORE BUSINESS OF JISLAH?
Our Core business is LOANS and INVESTMENTS.
WHAT ARE YOUR INVESTMENT PRODUCTS?
We have fixed deposit as our investment product which has a higher interest rates than the Bank of Ghana Treasury Bills Rates and negotiable.
WHAT TYPE OF LOANS DO YOU OFFER?
Our Loan Products are:
- Project & Construction Loans – To enable projects to be completed or get these projects to income generating levels.
- Auto & Asset Loans – To enable organizations and individuals to acquire vehicles or assets of their choice
- Corporate & Bridge Loans - To provide short term finance to business or corporate institutions awaiting the disbursement of an approved loan or financing package from a traditional bank or reputable source
- Trade and SME Loans:
Trade Loans - Specially designed to improve financial position of Small and Medium Enterprises (SMEs) to strengthen their ability to carry out trading or other commercial viable activities.
Personal Loans - Designed and structured to enable workers to access loans for their personal needs
Import Clearing Loans – To provide speedy funds to importers to facilitate timely clearing of goods from the ports.
Excel Loans – To provide quick reliable loans to salaried workers of reputable financial institutions
Adamfo Pa – In collaboration with NTHC/SSNIT Informal Sector Fund (SISF) to provide loans to contributors of the pension fund for their personal or business needs
HOW LONG DOES IT TAKE TO ACQUIRE A LOAN FACILITY FROM JISLAH?
Loans are disbursed within 72 hours. This is after all requisite documents have been provided
DO YOU NEED A GUARANTOR TO TAKE A LOAN FROM JISLAH?
A guarantor is a person who agrees to repay the borrower’s debt should he or she default on agreed repayments. Therefore, as part of due diligence, it is important that we know where the guarantor lives.
WHY DO YOU REQUEST POST- DATED CHEQUES FROM GAURANTORS?
Postdated cheques are a form of security for JISLAH and a legal tender on which JISLAH can rely in the event of default.
DO YOU NEED A GUARANTOR FOR AUTO LOANS?
No guarantor is needed when the down payment is 40% and above.
WHO BARES THE COST OF THE TRACKING DEVICE IN A VEHICLE FINANCED BY JISLAH?
The client because it eventually becomes the property of the client after servicing the loan
CAN A REPEAT CLIENT ACCESS TWICE THE AMOUNT HE PREVIOUSLY REQUESTED?
It is possible for a repeat client to access twice the amount only after an analysis of his/her cash flow reveals that he/she is capable of servicing such an amount.
WHY DO YOU INSIST ON LAND TITLE AS DOCUMENTATION FOR COLLATERAL?
This is because Land Title certificates are issued only once. Chances of attaining it fraudulently are slim. Indentures can be used for multiple loan applications at different financial institutions.
DOES JISLAH ALLOW EXTERNAL BODIES TO VALUE COLLATERALS?
We consider the marketability of the asset and not only its value. We have professionally trained officials who value the collateral at no charge to the customer.
The collateral must satisfy the one –third rule of borrowing as introduced by the Bank of Ghana, to be accepted as collateral eligible to be used to access any facility.
DO YOU REQUEST FOR CASH COLLATERAL?
Yes, it shows the level of commitment and applicant’s ability to repay the loan.
WHY DO YOU TAKE BOTH PAYSLIP AND BANK STATEMENT?
A bank statement with enough narrative to show the applicants salary may suffice.
A pay slip however reveals not only the applicants salary but also any deductions that may be done at source.
Bank statements may also include other sources of income.