QIIB launches vehicle loan scheme

Jamal al-Jamal

International Islamic (QIIB) bank has launched a new scheme for financing the purchase of new and used cars.
The profit rate for loans starts at 2.42%.
The features of the limited time scheme include grace period for initial repayment, no down payment, no collateral or requirement of a guarantor.
QIIB believes these will render the ‘best possible service’ to customers.
Information on the procedure for availing of this facility can be obtained from any of the bank branches or by contacting the QIIB call centre.
QIIB deputy CEO Jamal al-Jamal said: "This offer is the first of its kind in Qatar at a very minimum cost and does not involve much paper work.
"We strive to offer the best possible products and services to our customers. We are proud of the ever increasing number of our customers.”
The vehicle finance product was designed keeping in mind customers’ requirements in line with QIIB’s customer-centric banking practices.