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“Allied Aitebar Car Ijarah” is a product designed with the objective to offer Shariah Compliant car financing facility to its clients.

Ijarah is an arrangement/contract under which one party called Ajir (Lessor) agrees to give the usufruct (right of use) and possession of a property /asset(s), non-consumable, to another party called Mustajir (Lessee) for a mutually agreed consideration (i.e rent), terms and conditions, while the ownership of Ijarah assets remains vested with the Ajir (Lessor)/Bank. The ownership of Ijarah assets may be transferred by the Lessor to the Lessee at the end of Ijarah period or in case of early termination of Ijarah through another contract i.e sale and/or gift deed as the case may be.

  • Available for New and Used Cars
  • Flexible tenures from 1 to 3 years for Vehicle above 1000cc and 1 to 5 years for Vehicle up to 1000cc
  • Vehicle requested for finance should not be older than 3 years at the time of financing and should not be more than 8 years old at the time of maturity for vehicle up to 1000cc and 6 years old at the time of maturity for vehicle above 1000cc.
  • Allied Aitebar Islamic Banking will bear Withholding Tax (W.H.T) on Purchase & Registration
  • Minimum security deposit as low as 30% for new car and 30% for used cars (for financing up to 2.0 Million) & 40% (for financing Over 2.0 Million).
  • Competitive Rentals
  • Asset Transfer Facility
  • No rental before delivery of the vehicle
  • No hidden costs
  • Quick Processing

This facility is currently being offered in Lahore, Sargodha, Islamabad, Multan, Karachi, Gujranwala, Rawalpindi, Bahawalpur, Hyderabad, Gujrat, Faisalabad, Sialkot, Peshawar, Sahiwal and Sukkur only.

  • Salaried Professionals
    • Salaried individual working as permanent staff
    • Minimum length of employment of 2 years
    • Minimum net monthly salary of Rs. 40,000/-
    • Minimum six (06) month’s relationship (Salary account) with ABL or other Bank.
  • Businessmen
    • Maintaining an average monthly deposit of Rs. 1 Million MTD for past 12 months (a dip in any two months i.e. less than Rs. 1 Million monthly average balance, shall be considered provided average balance of past 12 months remains same i.e. Rs. 1 Million).
    • Further multiple accounts of the client (in individual or as sole proprietor capacity) within ABL can be considered/clubbed in order to meet the criteria of Rs.1 Million average balance.
  • Self-employed individual
    • Per month income of Rs.60,000.
    • Relationship with ABL minimum 1 year and 2 years with other bank
  • Affluent individual
    • An average balance of Rs.1,000,000 for the last one year with ABL (though applicant is required to present verifiable proof of income) along with minimum income.
    • Minimum 1 year of relationship with ABL.

Customer have the option to terminate the agreement before completion of Ijarah period on the agreed purchase price as mentioned in “Undertaking to Purchase Ijarah Vehicle” forming part of Ijarah Agreement. Purchase price comprise of

  • Outstanding Principal as per amortization Schedule
  • Value equivalent to Security Deposit
  • Outstanding takaful, registration charges & any other charges

Early termination charges + FED would apply as per latest SOC.

  • Clear copy of CNIC/SNIC
  • Copy of valid driving license of the applicant or provide an undertaking and copy of driver’s license in lieu thereof if the vehicle is to be driven by any other person other than applicant
  • Two Latest Passport Size Photographs
  • Last two month’s Salary Slip or Salary Certificate, clearly indicating gross and net salary with details of all deductions
  • Six months bank statement for Salaried and one year for Prime customer/Businessmen
  • Copy of title documents (in case of used vehicles)
  • Complete filled application form with client’s signatures
  • Any other document, if required

  • Download and fill out Application form (available at Islamic Branches as well)
  • [Click here to Download form]
  • Attach required documents with application form
  • Visit Allied Islamic Banking Branch and submit your application with signature verification from branch
  • Get your financing approved


Segment A

(Corporate Arrangement)

Segment B

(Salaried Individuals)

Segment C

(Self-Employed Individuals)

Segment D

(Affluent Individuals)

Segment E

(Roshan Apni Car)




(salary routed through ABL)



(salary credited in other bank)


(relationship with ABL)



(relationship with other bank)




SBP Floor+1%

(Lien Based)






(Remittance Based)








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