Home Financing

Vehicle Financing                                            

Dayax Islamic Bank provides an Islamic vehicle financing facility that allows its customers to finance the purchase of vehicles.

This facility is based on the contracts of Ijarah Thumma

Al Bai, which means leasing and subsequent purchase of an asset. Under the first contract, the hirer leases the goods (vehicle) from the owner at an agreed rental over a specified period. Upon expiry of the leasing or rental period, the hirer enters into a second contract to purchase the goods from owner at an agreed price.