Qatar Islamic Bank (QIB) announced the launch of its annual car financing offer in Ramadan for its existing and new customers wishing to purchase regular, electric or hybrid cars. Customers can benefit from competitive profit rates and additional benefits during the holy month of Ramadan through Sharia-compliant financing packages.
The bank has partnered with car dealerships and prestigious brands to offer special financing packages during the month of Ramadan. The car financing offer is valid until April 30 of this year, and offers customers who want to buy a new or used car competitive financing options. With fixed monthly installments and no administrative fees, customers can benefit from competitive reducing profit rates of 5.75% on electric or hybrid cars, and starting from 6.25% on standard cars. In addition, customers can get a free credit card for the first year as well as a 3-month grace period and a free subscription to the QIB MyBook app.
Mr. Dr. said. Anand, General Manager, Retail Banking Group, said: “The bank is committed to initiatives that support the environment and society throughout the year, especially during the month of giving. We are pleased to launch the exclusive car financing offer from the bank to give back to the community during the holy month, and to offer competitive financing offers. In addition to introducing a competitive reducing profit rate offer to finance electric cars during the month of Ramadan, which underscores our continuous efforts to integrate sustainability and encourage environmentally friendly practices. In response to the growing demand for environmentally friendly options, electric vehicle financing will help promote environmental awareness and the benefits of electric and hybrid vehicles.”
As part of its commitment to environmental sustainability, the bank seeks to contribute to the achievement of sustainable development goals and the application of environmental, social and governance standards. The bank participates in the Environmental Sustainability Program launched by the Ministry of Environment and Climate Change with the aim of providing guidance, recommendations and support to all sectors in Qatar to adopt sustainability strategies.
