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Ijarah
Our Ijarah promotes a confidential lease of contract in which ICB transfers the right to use of an item it owns to the client for a specific period in exchange for an agreed consideration!
Requirements
- Original valid documents ID/ Passport/ Government ID
- Driving License
- Birth Certificate
- Commercial Registry copy (if its company)
- Valid passport copy of authorized personnel and copy of Articles of Association defining their powers
- Capital contribution shall be in cash
- Facility Application Form
- Other documents as per bank’s policy
- Processing fee of 0.5% of the financed amount
- Account Opening Fee $5
Features and Benefits
- Based on the Shariah contract of Ijarah, which means usufruct of assets and properties.
- Ijarah can be used by small, medium, commercial enterprises & corporate entities.
- Ijarah is an ideal mode for medium to long term finance as it offers flexible financing terms to match the Customers’ requirements.
- Ijarah is an ideal mode for medium to long term finance as it offers flexible financing terms to match the Customers’ requirements.
- Ijarah facility provides an ideal off balance sheet financing solution.
- Bank bears the risk of the asset throughout the Ijarah tenure
We are here for you!
The bank follows Shari’ah Law which seeks a “just” and “equitable” distribution of resources.