Vehicle Financing


Vehicle Financing

“Ijarah” is an alternative to the conventional concept of leasing. It is an agreement, under which a certain asset is leased to the customer for an agreed rental, for the usage of the asset. Shabelle Bank will buy the vehicle from the seller based on the customer’s promise to arrive at a contract, with the Bank. Subsequently, the asset is leased to the customer for a specified rent amount & lease term. At the end of the lease term, the bank transfers the ownership of the vehicle to the customer.




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