Ijarah for Individuals
Under this product, individuals have the option to lease a car and have an option to own the car ("promise to own") at the end of the lease contract.
Key Features
- Lease approval within hours
- Option to lease the car for up to 5 calendar years
- Shariah Compliant
- Comprehensive Insurance covering accidents, thefts and natural disasters
- Flexible due dates
- Ability to fill preliminary application form online
Requirements
- Minimum age 21
- Minimum salary SR 3500
- Minimum length of service 3 months
- Valid driving license
Required Documents
- Completed lease application form
- Copy of Valid ID (Iqama) or National ID
- Copy of Valid driving license
- Letter of employment (no objection certificate) along with salary certificate
- Copy of last bill (Electricity, Water or Telephone)
