The Banking Executive Magazine - April 2021

QIB QIB LAUNCHES EXCLUSIVE AUTO FINANCE PROMOTION Qatar Islamic Bank (QIB) has an- nounced the launch of its Auto Fi- nance promotion during the holy month of Ramadan, to meet the growing needs of its customers. The new promotion is part of the bank’s commitment to reward new and ex- isting loyal customers who apply for car finance, by offering them a num- ber of benefits. Along with quick approvals and low reducing profit rates at 3.50% p.a. (1.83% flat), the Auto Finance offer will provide new and existing QIB customers attractive rates on their Auto Takaful policy, with a 1.90 % exclusive rate, as well as a 6 months’ grace period from the finance tenure, for both Qatari nationals and expats. QIB has partnered with a variety of automotive dealers and brands to offer special financing deals on new vehicles during Ramadan. Customers will be able to purchase both popu- lar and luxury vehicles from a variety of world-recognized manufacturers under competitive and equitable fi- nancing arrangements. Furthermore, customers applying for Auto Finance are eligible for a free Credit Card at 0% Profit rate on their card outstanding, which can con- tribute towards normal monthly spends for groceries, restaurants, travel, education fees, where no profit will be charged. Customers will also benefit from a free subscription to the QIB My Book Qatar for a period of one year, in- cluding instant access to over 2,000 “buy one get one free” vouchers to use across restaurants, cafés, fast food chains, hotels, theme parks, sa- lons and spas, gyms, and fitness cen- ters in Qatar. The promotion will run until 30th June 2021 and is available for new and used cars from authorized deal- ers, both for existing and new to QIB Customers, and for both Qatari citi- zens and residents. Commenting on the Car Finance pro- motion, Mr. D. Anand, QIB’s General Manager - Personal Banking Group, said: “QIB is proud of its reputation as the leading Auto financer in Qatar. This exclusive offer is another testa- ment to QIB’s commitment to pro- viding customers with the most convenient and responsive banking, whilst rewarding our customers with exclusive benefits.” “Our Car Finance promotions are al- ways customized and appropriately timed to meet our customer’s needs. As we approach a busy season, with a lot of financial commitments, we understand the importance of help- ing more people to realize their need for purchasing a car during Ra- madan, and beyond.” Anand added. the BANKING EXECUTIVE 40 ISSUE 148 APRIL 2021