Islamic car financing has picked pace in Pakistan and is offering better options than conventional banks to the consumer base. Based on the concept of Ijarah, Islamic car financing allows an individual to change or upgrade his vehicle at costs lower than conventional financial institutions.
Currently, Islamic car financing is aggressively being offered by Burj Bank, Al Baraka, Meezan Bank and Dubai Islamic Bank. Amongst these options, Al Baraka is offering the most economical financing option.
If you are looking to buy a new car or seeking financing for a second hand vehicle, or simply analyzing the options available, feel free to visit our Islamic car financing section for further details.