Ijara Financing

The Arab Islamic Bank Ijara Financing program enables customers to plan for their future and make the appropriate decision to choose a home commensurate with their income. Through this program, the bank purchases a property for the customers and leases it to them based on instalments paid by the customer. After the last installment is paid, the property is transferred into the customer's name. Ijara financing covers apartments, stores, or any other real estate that the bank can purchase and lease to consumers. The mechanism and program are carried out in accordance with the Monetary Authority's instructions and in a manner that does not contradict Islamic Sharia provisions.

Features of Ijara Financing:

• Ijara financing adheres to Islamic Sharia rules.
• A repayment period of up to 25 years
• Financing of up to $300,000, provided the deduction from family income does not exceed 50%.
• Easy installment financing
• Competitive and distinguishing rental interest rate
• Free life and property insurance
• Financing up to 85% of the property value

Required Documents

• National ID
• Bank statement for the previous six months
• Employment verification certificate (salary slip or municipal council certificate)
• A price Quote compatible with Islamic Sharia
• Title deed
• Obtaining an undertaking to transfer the salary to the Arab Islamic bank or presenting a suitable bank guarantee
• Make an advance payment of 15% of the property's price.