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Choose the property or asset you desire to purchase, and we take care of the acquisition on your behalf. Subsequently, we lease the property to you at a predetermined rental rate for an agreed-upon duration. To ensure your peace of mind, we commit to selling you back the property or asset at the conclusion of the lease term, at the prevailing market price. This transaction is formalized through an independent sales contract, offering transparency and a secure investment process.
- The rent can be paid monthly, quarterly, bi-annually, or annually.
- The duration of the lease must be clearly specified when the contract is concluded.
- Audited financial statements and cash flow statements for the last three financial years
- New property evaluation.
- Your legal documents
- Official facility request form
What are the fees and commissions?
Price: Fixed price (Central Bank discount rate +%)
What assets can be granted through the Lease leading to Ownership?
These assets include, but are not limited to, vehicles, machinery, etc., as long as they are Sharia-compliant.
Can I (as a tenant) request to terminate the lease contract before the due date and buy the leased property or asset?
Yes, upon the bank’s approval.
- The Bank buys the property or asset from the seller (the original owner) and registers it in the name of the bank.
- The Bank retains ownership of the leased property or asset, in addition to all the rights and obligations thereto.
- The tenant (customer) is responsible for the maintenance of the property or asset.
- Facility grants are subject to evaluation and internal approvals at the bank.
- The Bank may reconsider its margin of profits on any financing transaction with credit facilities, provided that the Bank informs the client of the new profit margins.
- The customer shall disclose to the Bank all the parties associated with it economically or legally pursuant to the definition contained in the instructions of the Central Bank regarding the maximum limits of credit.
