Understanding Islamic Mortgages: What Makes Them Different?

Lease-to-Own Option (Ijara): How It Works in the UAE

Ijara is a Sharia-compliant lease-to-own structure that allows buyers to gradually own a property without paying interest. Here’s how it works:

🏦 Bank Purchases the Property: The bank buys the property on your behalf and becomes the legal owner initially.

🏠 You Lease the Property: You pay a monthly rent to the bank for using the property. This rent is agreed upon upfront and stays fixed throughout the lease period.
 
📈 Gradual Transfer of Ownership: Part of your monthly payments goes toward buying the bank’s share of the property. Over time, you gradually acquire full ownership.

✅ Transparent & Sharia-Compliant: All terms—including rent, payment schedule, and eventual ownership transfer—are clearly defined in the contract. There’s no hidden fees or interest, making it ethical and fair.

💡 Flexible & Secure: Ijara allows you to live in your home immediately while paying gradually toward ownership. It’s ideal for UAE residents who want ethical, Sharia-compliant home financing with predictable payments.

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