Ijara

Lease with subsequent ownership transfer and no interest

Sum

up to 300 bln UZS

Term

up to 60 months

Currency

UZS / USD / EUR

Submit application

More about financing

Ijara — leasing for business in accordance with Sharia principles Lease with subsequent ownership transfer, without interest or penalties.

Ijara from Ipak Yuli Bank is a financing instrument for acquiring fixed assets through a lease structure compliant with Islamic finance principles.

The bank purchases the asset selected by you and provides it for your use under a lease agreement. You use equipment, vehicles, or real estate to develop your business, and after fulfilling all obligations, ownership of the asset is transferred to you under a separate agreement.

Ijara allows businesses to acquire assets on transparent terms, with a predefined payment structure and without interest.

You grow your business — the bank finances the asset.

About the product

Halal financing structure

• Financing without interest or penalties

• The bank purchases the asset and leases it to you

• Payments are structured as lease payments

• The transaction complies with Islamic finance principles

For business growth and expansion

• Acquisition of equipment, machinery, and vehicles

• Financing of commercial real estate

• Suitable for small, medium, and large businesses

• Financing of real assets for business development

Transparent and clear terms

• Asset cost and payment schedule are agreed in advance

• Ownership is transferred after fulfilling obligations

• Full support and сопровождение by the bank

Benefits

• Financing amount: up to UZS 300 billion (or equivalent in foreign currency)

• Tenor: up to 60 months

• Lease profit rate:

— from 10% per annum in foreign currency

— from 24% per annum in UZS

• Currency: UZS, USD, EUR

• Approval period: from 3 to 10 days

How Ijara works

1. The client selects the asset and supplier

2. The bank purchases the asset

3. An Ijara agreement is signed

4. The asset is provided to the client for use

5. The client makes lease payments

6. Ownership is transferred after fulfilling all obligations

Why it benefits your business

• Financing in accordance with Sharia principles

• Transparent transaction structure

• Ability to acquire assets without large upfront costs

• Predictable payment schedule

• Long-term solution for business development

How to get the financing?

Choose the asset

Select the required equipment, vehicle, or real estate and apply to the bank.

Sign the agreement

After approval, the bank purchases the selected asset and leases it to you under an Ijara agreement

Become the owner

After fulfilling all obligations, ownership of the asset is transferred to you under a separate agreement

Submit application

Choose the asset

Select the required equipment, vehicle, or real estate and apply to the bank.

Sign the agreement

After approval, the bank purchases the selected asset and leases it to you under an Ijara agreement

Become the owner

After fulfilling all obligations, ownership of the asset is transferred to you under a separate agreement

Submit application

Important to know

Required documents to get the service

• Request letter

• Incorporation documents

• Financial statements

• Collateral documents

Collateral

a) real estate, vehicles, pledged cash, and jewelry;

b) liquid equipment;

c) third-party guarantee from an entity with stable financial standing and steady cash flow.

Business requirements

The main activity of the project company must comply with Islamic Sharia principles. Therefore, financing is not provided to organizations offering interest-based financial services, or those involved in the production, sale, or distribution of alcohol, pork, weapons, tobacco, gambling, nightclubs, pornography, or other activities prohibited under Sharia

Questions and answers

In Ijara, the bank does not provide money with interest. Instead, the bank purchases the asset and leases it to the client. The client makes lease payments, and after fulfilling all obligations, ownership may be transferred. The bank’s income is generated through lease payments, not interest.

In Murabaha, the bank sells the asset to the client on deferred payment terms, and ownership is transferred immediately.

In Ijara, the bank remains the owner during the lease term, and ownership is transferred only after fulfilling all obligations under a separate agreement.

Acquisition of:

• equipment

• production machinery

• vehicles

• commercial real estate

• other fixed assets

Only real assets compliant with legislation and Islamic finance principles can be financed.

Ownership is transferred after full fulfillment of obligations under the Ijara agreement through a separate transfer agreement.

No. Ijara does not involve interest. Payments represent lease rent for the use of the asset.

The final cost of the asset under Ijara will be higher than a direct purchase. All terms, final cost, and lease payments are agreed in advance and specified in the agreement."

No, there are no interest-based penalties for late payments.

Since the bank owns the asset during the lease period, risks are allocated according to the agreement. If damage occurs without the client’s fault, the contractual resolution procedure applies.

Early fulfillment of obligations may be considered individually and is governed by the agreement.

Yes. The product was developed with the support of Assoodiq Consulting, a consulting firm specializing in Islamic finance.

For legal entities that require financing for fixed assets and prefer a lease structure compliant with Islamic finance principles.