Barakat Car Scheme

Car is not a finery today. No car, no modern and fast life. To speedup your life tbl offers Barakat car scheme. you are welcome to modern and fast life.


  • The Barakat Car Scheme is based on a higher purchase contract under Shirkatul-melk concept of Islamic Sharia. Shirka means sharing and under Sirkatul-melk the purchaser & Bank enjoys joint ownership. The asset (car) purchased with joint capital provided by the bank and the client.
  • The asset purchased under serkatul-melk is jointly owned by the bank & its partner (client) and used by the partner as per agreement and pays rental for the service of the car.
  • Under the agreement, Bank gradually transfers its ownership to the co-owner within the agreed period by payment of installments. All ownership related risks lie with the owners (Bank & Client) as per their share holding while all usage related risks rights and liabilities lies with the user.


Name of the Products Rate of Profit/Rent
Barakat Car Scheme 12.50 p.a 


  • Confirmed Service Holder, established Businessmen & Professionals for New & Reconditioned Car, Microbus & Jeep.
  • Corporate bodies for New & Reconditioned Microbus, Minibus, Pick-up Van, Truck & Jeep

Rates & Charges

In all conventional investments, an extra amount is charged if the rent/installment is not paid on time. This extra amount is considered as riba and is Haram under Sharia. Islamic banking does not credit such amount to its income rather to a charity fund and administered for charitable purpose by the Bank.