Upon customer request, the bank purchases tangible assets such as real estates, boats, planes, appliances…etc. The bank promises to Lease the asset to the client for use in exchange for periodic rent. The ownership of the leased asset will be transferred to the client after completion of the renting period as a gift from the bank with no compensation.

Clients may also use Ijara financing to purchase homes and apartments with the following privileges:

• Competitive, Shariah-compliant rental rates
• Generous lease period up to 20 years
• Easy monthly installments
• Free participation in the Mutual Exchange Insurance Program
• Free real estate insurance
• Opportunity to obtain financing to purchase a kitchen or furniture
• Free VISA card for the first year
• The bank commits to transfer the ownership of the apartment, real estate, or rented asset upon full payment