AMLAK to launch flexible Ijarah product
AMLAK Finance PJSC has responded to claims that its popular Decreasing Ijarah product raises the cost of home finance for their customers by up to 25%. The Decreasing Ijarah product actually provides Amlak's customers with the opportunity to save up to 16% in profit payments when compared with conventional mortgages, the company said.
Furthermore, in response to customer requests, the Islamic home finance pioneer has developed the region’s first Flexible Ijarah product, giving even more repayment choices to existing and potential customers. Existing AMLAK customers will be contacted via mail about their new options, and the Flexible Ijarah will be available in March to new customers.