Qatar Islamic Bank (QIB) has introduced new features to its mobile app, in line with its ongoing efforts to provide customers with innovative digital options to fulfil all their banking needs, remotely.
Developed with customers’ daily banking requirements in mind, the app now allows them to benefit from new and simplified features, including the postponement of their personal finance monthly instalment (PFMI), opening the exclusive certificates of deposit (CoD) for Covid-19 front-liners, filling and submitting the common reporting standard (CRS), and completing Foreign Account Tax Compliance Act (FATCA) declarations.
Through the app, the eligible Qatari customers can now postpone their PFMI for the next three months and it provides them the option of adjusting the new financing to take place after the maturity of their existing finance terms.
The postponement can be submitted any time before the 20th day of the month in order to immediately take effect, starting from the next upcoming instalment.
"The new mobile app features are yet another testimonial of our promise towards providing a fully digitised banking experience. We remain committed to offering innovative digital solutions responding to the banking needs of all our customers, while guaranteeing easy and safe services that can be used by our customers anytime and from anywhere in the world,” said D Anand, QIB’s general manager – Personal Banking Group.
As a tribute to Covid-19 front-liners and their contribution to keeping the entire community safe during the current circumstances, employees of the Ministry of Public Health, Hamad Medical Corporation, Primary Health Care Corporation, Sidra Medical and Research Center, Ahli Hospital, American Hospital Doha, Doha Clinic, Al Emadi Hospital, in addition to the Ministry of Interior personnel and volunteers can now request the exclusive CoD for the pandemic front-liners through the app.
The CoD is introduced to help front-liners increase their long-term savings, with a minimum amount of QR5,000 and no maximum amount. These special CoDs offer exclusive returns allowing Covid-19 frontline employees to benefit from a higher expected profit rate.