Service Finance is a mode of Islamic financing using the Sharia’a contract of Service Ijara. Through the Service Finance product, Al Hilal Bank can help you finance services such as your travel expenses, medical treatment, education expenses and many more in a Sharia’a compliant way.
Service Finance can help you avail a finance for:
Ijara is a term of Islamic 'fiqh' which refers to "giving something on rent". The Ijara contract is applicable to 'usufructs' as well as services. Ijara of usufructs refers to the lease of physical assets such as land, building, machinery, equipment and so on. Service Ijara is used to employ services of a person for an applicable wage. Service Ijara may include all transactions where the services of a person (such as a doctor, lawyer, teacher or any other person who can render a valuable service) are hired by someone else.