Press Release

April 15, 2005 

 

State Bank’s Shariah Board Approves
Essentials and Model Agreements for
Islamic Modes of Financing

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Essentials of Islamic Modes of Financing
Murabaha Facility Agreement
Musawamah Facility Agreement
Lease Agreement
Salam Agreement
Musharaka Investment Agreement
Istisna Agreement
Agreement for Interest free Loan
Mudaraba Financing Agreement
Syndication Mudaraba Agreement
In the Name of Allah, the Merciful, the Compassionate
MODEL LEASE AGREEMENT
Lease Document # 2

SCHEDULE

This Schedule shall be attached to and form an integral part of the Lease Agreement Between M/s (Lessor)_________________________________________and (Lessee) ______________________________________________________________________.

The Lessee authorizes the Lessor to procure the under noted asset(s), to be leased in terms of the Agreement between the parties, and at the rate and for the term herein specified.

Sr. No.
Specification of Assets
Amount
Term of Lease
       


The Lessor shall maintain comprehensive insurance during entire period of lease.

Registration, CVT, Income Tax, and Road Tax shall be paid by Lessee.

Place of delivery and return of the Leased Assets shall be at the Head Office of Lessor or as agreed between the Parties.

Commencement date of Lease: _____________________
Duly authorized by the Lessees:_____________________

The amount of Security Deposit Rs. __________________ shall be adjusted towardsResidual Value at the end of lease period

OR

The amount of Residual Value Rs. _________________ shall be payable by the Lessee at the end of Lease Period.

 
 
 


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