MCB Islamic Bank has announced a new Shariah-compliant vehicle financing option for the JAECOO J7 under its Micar consumer finance program. The initiative aims to provide customers with an Islamic financing solution aligned with Shariah principles.
According to the bank, the JAECOO J7 will be offered through a diminishing Musharakah financing structure. Under this arrangement, customers gradually acquire ownership of the vehicle through scheduled payments over an agreed financing period.
MCB Islamic Bank stated that the rental rate for the JAECOO J7 financing has been set at one-year KIBOR plus 2 percent. In addition, the Takaful contribution for the vehicle is listed at 1 percent only, offering coverage under Islamic insurance principles.
The bank further shared that the financing program includes a priority delivery option for eligible customers. This feature is aimed at reducing waiting times and ensuring quicker vehicle availability for approved applicants.
Officials said the offering reflects MCB Islamic Bank’s commitment to expanding Shariah-compliant consumer finance products in Pakistan’s growing auto market. The bank continues to focus on providing ethical and accessible financing options for customers.
The JAECOO J7 financing offer under the Micar program will remain valid until March 31, 2026. Interested customers can find further details and application procedures on MCB Islamic Bank’s official Micar consumer finance platform.
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