Name : Hafiz ebad.ul.

haq
Reg 2131102
Assignment
Islamic finance.

Ijarah car financing

Car Ijarah is Pakistans first Interest Free car financing based on the Islamic financing mode of
Ijarah (Islamic leasing). This product is ideal for individuals looking for car financing while
avoiding an interest-based transaction. Meezan Bank Car Ijarah is a car rental agreement, under
which the Bank purchases the car and rents it out to the customer for a period of 1 to 5 years,
agreed at the time of the contract. At the end of Ijarah period, the vehicle will be sold at a token
amount or gifted to the customer. In addition to leasing of new cars, Meezan Bank also provides
the unique opportunity of leasing second hand, both locally assembled and imported vehicles.
This feature is specifically designed as a highly economical option. The Used Car Ijarah facility
is made available at a minimum-security deposit as low as 20%. Financing of used cars are
subject to a selection criteria.
Key Features:

Low monthly rental

Rental paid after delivery, not in advance
Fastest processing and delivery
Tracker option available
Minimum security deposit as low as 10%*
All new, used, local, imported and luxury vehicles can be financed.