QIIB launches Flexible Finance

November 21, 2010 - 9:21:09 pm

Doha: International Islamic (QIIB) has launched an innovative product - Flexible Finance, which provides customers with unprecedented advantages that meet their needs and helps them schedule their financial commitments.

QIIB Assistant CEO Jamal Al Jamal (pictured) said Flexible Finance is being launched after a careful and precise real study of the types of products available in the local banking market.

Jamal said, as the name denotes, the key feature of the product is its flexibility. This is because it allows customers to determine the number of installments and pay as they choose.

So much so, customers will have the option of even paying QR99 in an installment or delay payments by opting grace period on repayments. He said the product’s flexible features would not cast any additional burden on customers. These are part of an initiative by the bank to help customers improve their lives.

Jamal said the maximum repayment period under Flexible Finance is 84 months. He said customers can avail of Flexible Finance by contacting any QIIB branch within Qatar or the bank’s customer service. Both nationals and expatriates can seek Flexible Finance.

Jamal emphasised on QIIB’s resolve to introduce in the market Shariah-based products that are simple, attractive and affordable to customers. Earlier, QIIB had launched a vehicle finance product that offered the cheapest rates in the market and which helped thousands of customers to own vehicles without much hassles.

A Shariah-based bank, QIIB, is fast emerging as the leading Islamic bank in the region. Currently, QIIB has 15 branches in convenient locations across Qatar. The network also comprises more than 60 ATM machines. QIIB also has correspondent relationship with premier banks in the region and outside.

The Peninsula