Ijarah Lease-to-Own Rent Today, Own Tomorrow, Lease your dream home with the option to own it at the end of the term.
What it is
Ijarah is an Islamic lease contract where NAHL Homes purchases a property and leases it to you for a fixed period. At the end of the lease, ownership is transferred to you through a gift (hibah) or nominal sale.
How It Works:
- You identify a property you want to live in and eventually own
- NAHL Homes purchases and retains legal title
- We lease it to you for a fixed term (10–20 years)
- You pay monthly rent + a progressive acquisition payment
- Upon completion of payments, we transfer ownership to you
Key Features:
- Ownership Flow: Bank retains title during lease; transfers upon final payment
- Dual Payment Structure: Monthly rent + equity acquisition amount
- Tenor: Flexible, 10–20 years based on lease agreement
- Insurance: Property insured by the Bank; costs factored into lease
- Maintenance: Major structural maintenance by Bank; minor by tenant
- Early Exit: Possible via pre-agreed buyout mechanism
Who Is it For?
- Low-to-middle income earners seeking gradual ownership
- Civil servants and young professionals with limited initial capital
- Customers unable to qualify for full Murabaha pricing
- Households looking to avoid riba-based rental finance.
Shariah Compliance
Fully compliant with AAOIFI Standard No. 9 on Ijarah and Ijarah Muntahia bi Tamleek. Clear separation of rent and equity contributions. Bank assumes full ownership risk during lease.