Islamic Products

Islamic Hire Purchase/Islamic Leasing

Islamic Hire Purchase/Islamic Leasing

What is it?

Purchase of eligible portfolio of Islamic hire purchase/Islamic leasing (“IHP/IL”) granted for the purchase of commercial vehicles, equipment, machinery, or appliances.

Eligibility Criteria

  • related to the hire purchase/leasing of vehicle, machinery and/or equipment based on the approved Shariah principles.  
  • fully disbursed and amortised;
  • not exceed 1 month in arrears at the time of sale;
  • has a remaining life which expires on or after the review date;
  • has a book balance less unearned profit or other relevant charges, if any, not exceeding RM2 million per IHP/IL; and
  • comply with other criteria as per Cagamas' requirements

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