This is a type of leased benefits, permissible in Islamic Sharia with defined specifications of the asset and in exchange of a compensation for a limited period of time. Such assets may include machinery, vehicles, planes and others.
Terms and Required Documents
The ID document and number of the applicant issued by the relevant authority.
A certificate stating the salary of the client endorsed by the employer and accompanied with an underwriting pledging not to move or transfer the account only after the written consent of the Bank.
Two guarantors from the public sector whose salaries are transferred to the Bank.
Guarantee forms from the branch.
Balance statement from the Bank for a period not less than one year, conditioned that the client's salaries are regularly transferred to the Bank.
Feasibility study for the concerned equipment for leasing (in the event the Bank does not own the equipment.