Ijarah is an Islamic mode of leasing and can be used for assets that are not consumed while they are in use, for instance, it can be a house, car or any other tangible asset. During the tenure of Ijarah financing the asset given by the bank remains in DIBL's ownership and all risks are borne by the Bank. According to Shari'ah compliant Car Ijarah financing, DIBL gives its car on rental basis to the customer against agreed payment and period. After the determined period of Ijarah, customer may purchase the car at an agreed price or may return it back to DIBL.

Salient Features:

• Free from Riba.
• Fully Shari'ah compliant.
• No up-front insurance payment.
• No up-front registration fees and related expenses.
• Minimum Tenor 3 years; Maximum Tenor 5 years.
• Payment period: Monthly/Quarterly/Semi-annually.

Nature of Equipment/Machinery:

• Foreign manufactured and purchased through Letter of Credit
• Locally manufactured all agreements/documents are approved by DIBL's Shari'ah Advisor.