United Bank Ltd (UBL) has launched Shariah-compliant auto financing in the name of "Ameen Auto Ijarah". According to UBL here on Friday, auto Ijarah will provide a flexible auto financing product plan that would enable many more people to purchase the car of their choice with the added benefit of riba-free instrument.
Ameen auto Ijarah allows the customers to buy new or used cars and avail flexibility of matching rentals to cash flows. UBL said that auto Ijarah was currently available in Karachi only and it will be launched in other major cities shortly.