Alfalah Musharaka Homes:

With Alfalah Musharaka homes, you can participate with Bank Alfalah-Islamic Banking Division (BAL-IBD) in joint ownership of property where BAL-IBD invests a certain amount, usually up to 80% of the property value. Through monthly payments – a composite of rent for use of property and purchase of BAL-IBDs’ Musharaka shares/units in the property – to BAL-IBD you will be able to increase your stake in the property every month. The rental component will be readjusted every month to reflect your growing share of ownership in the property. Following purchase of all Musharaka units initially owned by BAL-IBD you shall become the sole owner of the house with a free Title to the property.

The Alfalah Musharaka Homes product can be used in multiple situations, giving you pure Islamic solutions for your desired objectives.

  • Purchase an already constructed house (Alfalah Buyer)
     
  • Purchase a plot and subsequently construct upon it (Alfalah Builder)
     
  • Renovate, extend, restore and enhance your already owned housing unit (Alfalah Renovation)
     
  • Transfer your existing exposure of housing finance facility from another financial institution to our Riba-free facility

You have the option to choose tenures for the purchase of units from between 3 to 20 years* * 3 to 7 years in case of renovation.
 

Alfalah Car Ijarah

A Shariah compliant car-leasing scheme with added features such as:

  • No upfront registration charges
     
  • No upfront insurance premium
     
  • No rentals before delivery of car
 

The facility applies to all locally-assembled new cars up to Rs 4 million. Used cars not older than three years can also be considered.

 

Alfalah Hilal Card The International VISA Debit Card

Carry your bank account in your wallet with Alfalah HilalCard

Bank Alfalah Islamic Banking Division (IBD) offers Alfalah HilalCard to its customers for a conscious free spending in a modernized form of currency that provides you with a wide range of accessibility using VISA’s worldwide network.

Alfalah HilalCard can be utilized for all your financial needs around the world, round the clock, wherever VISA cards are accepted locally and Internationally, giving you a more secure and convenient mode of payment.

The Alfalah HilalCard

The Alfalah HilalCard is an International VISA Debit card which gives you an unlimited access to your current/savings (musharka) account with a simple swipe, at more than 1 million ATMs and 27 million outlets around the world.

The reasons that make Alfalah HilalCard different from others:

  • HILAL CARD IS A BUY NOW, PAY NOW OPTION.
  • 4 No monthly repayment
  • 4 No interest charges
  • 4 Backed by a customer maintained current/savings (musharaka) account
  • 4 Your limit is your balance

HilalCard can be used electronically at any retail outlet or ATM that accepts any VISA cards.

How Can I apply?

All you need to do is open a current/savings (musharaka) account in any branch of Bank Alfalah Limited and apply for your Alfalah HilalCard.

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