IBQIBQ

"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."

IBQIBQ 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.

-Ends-

The International Bank of QatarInternational Bank of Qatar (IBQIBQ)

IBQIBQ is a well established and rapidly growing commercial institution, offering a full range of Retail, Private and Corporate Banking solutions. IBQIBQ has a strong commitment to build long-lasting relationships with its customers and provide them with excellent customer service with a focus on making banking simple, convenient and tailored to their needs. IBQIBQ is one of the oldest existing banks in Qatar and celebrated its 50th anniversary in 2006. It has a growing network of 9 branches and 30 ATMs in strategic locations throughout Qatar.

IBQIBQ was named the fastest growing bank in the Middle East by The Banker's 39^th edition of its "Top 1000 Banks 2009" survey. Additionally, IBQIBQ has previously bagged the Best Customer Service Award for 2008 and 2009 from the Banker Middle East Magazine.

IBQIBQ is 30% owned and managed by the National Bank of Kuwait (NBK), the highest rated bank in the Middle East, and the only bank in the Middle East to be named among the world's 50 Safest Banks in 2009. IBQIBQ is a growing bank that benefits from an international network as a result of its affiliation with NBK which gives its customers access to greater resources and a wide range of international services.

For further information, please contact:
Hala Kassab
ASDA'A Burson-Marsteller
T: +974 4351 113
F: +974 4351 511
E-mail : h.kassab@asdaa.com
Muna Khogali

International Bank of QatarInternational Bank of Qatar
Dir: +974 447 3017
Fax: +974 447 3710

© Press Release 2009

 

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