Al-Ijara

The leasing program is one of the programs of the real estate finance law, which allows the customer the freedom to choose the ready real estate unit (residential - commercial) anywhere in the Republic and is done through the bank’s purchase of the property from the customer himself or from others and then leasing it to him with a lease contract that ends in ownership of the property at the end of the lease term and the customer pays (Tenant) Monthly rental installments that include fixed, variable and complementary rental values.

The client (the lessee) submits an application to obtain financing for the purchase of a property in the leasing system provided that the client (the tenant) pledges to rent the property in question if the bank purchases it in a separate contract before concluding the lease agreement in preparation for leasing it to the client (the tenant) provided that the financing amount is paid in the form of rent payments During the specified period, according to a bilateral contract signed between the client (the lessee) and the bank.

General Terms & Conditions :

• Funding is available to employees, businessmen, self-employed people, Egyptians working abroad, and resident foreigners
• Financing is available for the purchase of prefabricated residential and commercial properties
• Financing is available for ready-made properties in various governorates of Egypt Republic, cities of new urban communities, and coastal cities
• The financing value can reach up to 80% of the value of the property. In the event that the bank purchases the property from the client (the tenant) and then re-leases it, the financing percentage is determined according to the market value of the property and the bank’s rules applied at the time of submitting the financing request.
• The financing period is up to 10 years
• The possibility to combine the income of the husband / wife or family
• The value of all financial liabilities with the mortgage instalment included should not exceed 40% of the total income.
• The minimum age of the client at the time of the grant should not be less than 21 years, and the maximum age of the customer at the entitlement of the last installment should not exceed 60 years for employees and 65 years for business owners and self-professions.