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| Car Ijarah |
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| Al Makhraj Car Ijarah
Concept |
Under the Al-Makhraj Car Ijarah scheme,
you can get a car of your choice against monthly rentals payable to MCB
Islamic Banking
At the end of the Ijarah Agreement, you will be given a choice whether
to return the car to MCB and receive back the security deposit paid by
you at the beginning or to purchase it at a price equal to the the security
deposit. |
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| Special Attractions |
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Free from Riba |
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Fully Shariah Compliant |
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No rental payments from the date of
booking till the time of delivery |
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No up-front registration / tax related
expenses and fees |
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No up-front Insurance payment |
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Nominal processing fee of Rs. 4400 (Non-refundable) |
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A unique opportunity for you to get
any locally assembled non-commercial or semi-commercial new vehicle of
your choice in 1 to 5 years by paying as little as 20% security deposit
and NOTHING more!! |
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| You are Eligible
if |
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You
are a Pakistani national residing in the city where Al-Makhraj Car
Ijarah product is available. |
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Your age is not
less than 22 years & shall not be 60 (for salaried persons)
& 65 (for businessmen), before maturity of the Ijarah facility. |
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Your monthly salary
/ income is at least Rs. 15000 and your monthly rental payment does
not exceed 45% of your net monthly take home salary / income. |
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You are a Businessman
/ self-employed with a minimum experience of 3 years in the same
business / profession. |
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You are an employee
for 2 years with the current employer or with overall 3 years of
employment history. |
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| How to Apply |
| Step 1: |
You can visit MCB Islamic Banking
Branch / any authorized MCB Branch or authorized Car Dealer, for application
form and details. |
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| Step 2: |
Submit complete application form
along with one processing fee cheque / payorder and one security deposit
cheque / payorder. |
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| Step 3: |
Once approved, MCB Islamic Banking
will purchase your chosen vehicle from selected dealer for you. |
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| Shariah Compliance |
Al-Makhraj Car Ijarah Scheme has
been developed under strict supervision and approval of Dr. Maulana Mohammad
Zubair Usmani, a reputed shariah Scholar who belongs to internationally
renowned Jamia-Darul-Uloom Karachi. |
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