Transactions Modern Financial Issues
Using Car Ijarah Islamic Financing to buy a Car
Question:- Can we buy a car on loan with Meezan Bank?
Answer:- Meezan bank provides car financing through the mode of Ijarah (leasing), which is a permissible contract if done according to Shariah principles. Since Meezan Bank has a board of Shari'ah scholars who overlook its financial products and have validated Car Ijarah according to Shariah, it is permissible to acquire Car Ijarah Financing from Meezan bank.
