Barakat Car Scheme

Barakat Car Scheme is an investment facility to buy a car for personal use. It is based on Hire Purchase under Shirkatul-Melk concept of Islamic Shariah.

  • Type of Car: Brand new automobile ,Reconditioned automobile is not older than 5 (Five) years/as per the decision of the regulatory authority.
  • Maximum age:65 years at the time of investment maturity/till the date of retirement (whichever is earlier)
  • Tenor:12 to 60 months for all type of car
  • Work Experience:

  • Salaried Person: Permanent & confirmed service holders & length of service should be 01 (One) years with 6 months employment with present employer (excluding probation period).
  • Self-employed professionals: Minimum 2 (two) years.
  • Businessman: Minimum 3 (three) years. 
  • Land Lord/ Lady: Proof of income, at least 25% rental income must be reflected in Bank statement
  • Minimum Income:

  • Salaried Person/ Self Employed Professionals/ Land Lord/ Lady: Minimum monthly net income BDT 30,000.00 (Thirty thousand) only
  • Minimum equity Participation: Equity Minimum 50% /as per decision of the regulatory authority as well as TBL.

Eligibility of contractual employees:

  • Contractual employees are allowed only if the applicant is employed by any Multi National, UN Bodies, embassies & Development Organizations;
  • If single contract period is 06 months or 12 months, 02 (two) previous contract renewals will be required;
  • If single contract period is 02 (two) years or more, previous 01 (one) contract renewal will be required;
  • Minimum gross monthly salary BDT 60,000/

Investment tenor will be maximum as per contract agreements supports. However, all other credit criteria must be met.

  • Minimum BDT 200,000.00 (Two lac) only. & Maximum BDT 40,00,000.00 (Forty lac) only.

    *Investment facility to the dependent members of an individual shall also be treated as part of the exposure of that individual.