Forward Ijarah is a form of lease which ends with transferring the ownership of the asset (subject of the contract) to the customer on maturity and upon meeting all its obligations under the Forward Ijarah Contract. The property, which does not exist at the time of signing the Forward Ijarah Contract, may be acquired by the bank under Istisna Sale Contract or any other Shari'a compliant mode of finance with the developer/contractors. At the end of the construction period the property is delivered to the customer as per the terms of the lease agreement. At the end of the lease term (i.e. on maturity) and upon meeting all obligations under Forward Ijarah Contract, the bank will transfer the ownership of the property to the customer for a token sale price under a separate sale contract.