Ijarah Muntahia Bittamleek (Leasing)

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Ijarah Muntahia Bittamleek

Owning your own property is one of life's biggest milestones and we’re here to help you reach it. With our Ijarah Muntahia Bittamleek product, owning your property becomes simple and stress-free. Here’s how it works: we buy the property you want—whether it’s an apartment, house, or land and lease it to you for a set time with affordable monthly payments. When the lease ends, the property becomes yours, with no extra fees. It’s a simple way to gradually own your home through your lease payments.

Features

Operates under Islamic finance principles, ensuring that the lease agreement conforms to Shariah law.
Upon completion of the lease period and fulfilment of the agreed-upon conditions, ownership of the asset is transferred to the lessee.
Offers adjustable payment terms, allowing for periodic instalment payments that suit the lessee’s financial capacity.
The lease contract has a fixed duration, agreed upon at the start of the contract.
The lessee has the right to use and benefit from the asset during the lease term.
The lessor is responsible for the asset’s ownership-related risks (like maintenance) during the lease period unless specified otherwise in the contract.
Can be used for financing a range of assets such as real estate, equipment, vehicles, or machinery.
The lessee may have the option to purchase the asset before the end of the lease period, depending on the terms of the contract.

Benefits

Competitive rental income.
Without credit granting commission/finance execution commission.
Longer repayment period for apartments and houses and flexible repayment period for land purchase financing.
Possibility of financing without a down payment (accelerated rental payment).
The possibility of approving and including family income from the first degree for joint financing.
Acceptance of advance rental payments and early settlement.
Including the customer in mutual insurance according to the conditions and limitations of the mutual insurance fund system.
The percentage of obligations of the applicant for financing with us and with others not exceed (50%) of proven income.