Structured Leasing in Full Compliance with Shariah!
Ijarah is a Shari’ah-compliant lease agreement in which the bank (lessor) retains ownership of the asset, while you (lessee) enjoy its use for an agreed period and rental. The ownership of the asset remains with the bank, and only the usufruct (benefit of usage) is transferred to you in return for a mutually agreed rental.
Start your Ijarah journey today with Askari Islamic Banking – Apply Now!
| Description | Specific Product Details |
| Name of Product: | Ijarah for plant & machinery/equipment/commercial vehicles |
| Basis of Pricing/Return: | Ijarah Rentals are determined by using any well known/ recognized bench mark as per prevailing market practices/dynamics e.g. KIBOR OR it can also be Fixed |
| Financing Limits: | Minimum: Per party limit as per SBP Prudential Regulations/as per facility approval Maximum: Per party limit as per SBP Prudential Regulations/as per facility approval |
| Tenors: | Minimum: 1 year Maximum: 7 years |
| Target Customers: | Corporate/Commercial/SME |
| Security/Collateral: | On a case to case basis e.g. exclusive ownership of Ijarah asset by the Bank, security deposit, hypothecation, charge on assets, mortgage of properties, pledge, etc. as per facility approval |
| Repayment: | Monthly Ijarah rental payments or as per facility approval |
