Bank of Khyber Raast Raast Car Finance (Ijarah or Diminishing Musharakah)

The only dual-structure Islamic car financing among Pakistan's windows: the customer chooses bank-owned Ijarah (30% security deposit, bank carries asset risk) or Diminishing Musharakah (30% minimum equity, customer buys out the bank's share), a fiqh-preference option no other window in this build offers. Both structures are priced at 1-year KIBOR plus a minimum 2.0% spread - the segment's lowest published spread - with the actual margin set by the customer's internal risk rating, over tenures of 1-5 years for local vehicles up to 1000cc (3 years above). It sits under Bank of Khyber's four-scholar board with a published fatwa, reserve policies and negative list, amid the KP government bank's ongoing full conversion to an Islamic bank. Fees and Takaful terms live in the Islamic Schedule of Charges rather than the product page.

Raast's car offer is quietly the most consumer-respecting in the segment: the lowest published minimum spread, and - uniquely - the choice between a true lease and a co-ownership buyout, which is the difference between the bank carrying asset risk and you carrying it. Most buyers will choose on economics (DM usually suits those certain to keep the car; Ijarah suits those who value the bank's ownership obligations), and BOK is the one place you can make that choice explicitly. The usual BOK opacities apply - risk-rated spreads, fees off-page - but the structural offer itself is the best in the build.