All our financing products are designed to comply with Alternate Finance principles and requirements while providing the functionality of conventional lending products. Alternate leasing, known as Ijarah is an alternative to the conventional concept of leasing. It is an agreement, under which a certain asset is leased to you for an agreed rental for the usage of the asset. Al-Falaah will take away your burden of capital expenditure by purchasing the asset of your choice, comprehensively insuring it while you use it over the lease period.
Although the ownership of the asset remains with Al-Falaah, the asset will be in your possession while you enjoy the benefits of our lease. At the end of the agreed rental period, where your obligations towards Al-Falaah is complete, we will gift the asset to you so you can enjoy the full ownership of it.