BISHKEK, Kyrgyzstan, November 12. Kyrgyzstan's Eldik Bank OJSC and Asiamotors LLC have signed a cooperation agreement to enhance access to Shariah-compliant financing options for purchasing vehicles and equipment, Trend reports via the Eldik Bank.
The partnership aims to promote new opportunities for individuals and businesses to acquire vehicles for personal or commercial use through Islamic financing mechanisms under the Murabaha Auto and Ijara MB-Business products.
Under the cooperation agreement, Eldik Bank will purchase vehicles upon client request and subsequently sell them on installment (Murabaha Auto) or provide them for lease (Ijara MB-Business) in accordance with Shariah principles.