In line with its strategy of developing unique and innovative financing solutions to meet different customer needs, Al Yusr Islamic banking service of IBQ announced today the launch of its latest Sharia-compliant financing product. The new Car Murabaha product aims at providing customers enhanced flexibility and favourable repayment tenure while upholding the highest standards of Sharia compliance.
"The Al Yusr Car Murabaha has been developed to enable our customers to meet their financing requirements while benefitting from enhanced flexibility, competitive rates and a unique personalised service while adhering to the prudent risk management principles prescribed under Sharia," said Hassan Al Mulla, Head of Islamic Banking.
"At Al Yusr, our product development strategy is driven by innovation and a commitment to making the banking experience simpler and more rewarding for our customers, while having a positive impact on the overall economy. We believe Car Murabaha is a valuable addition to our product suite that will prove extremely beneficial to customers looking for Sharia-compliant and flexible financing options."
Al Yusr Car Murabaha enables customers to benefit from rewarding financing terms and flexible repayment tenures, without any requirements for salary transfer or guarantor.
The new product also allows customers to benefit from a fast approval process and an exceptional level of personalised service from Al Yusr’s highly competent and sophisticated customer service professionals.
Al Mulla added, "The growing range of Sharia-compliant financing products from Al Yusr Islamic banking service will not only provide customers with favourable financing options, but also enable them to achieve their short and long-term financing goals, while positively impacting the development of a sophisticated financing infrastructure in the state of Qatar."
IBQ launched its first Al Yusr Islamic banking service retail branch in May this year. The branch, which is located on the C-Ring road in Doha, offers a comprehensive range of banking and finance products to suit all needs.