ADIB unveils Hajj finance scheme
Abu Dhabi, August 28, 2011
Abu Dhabi Islamic Bank (ADIB) has unveiled a new scheme under which Hajj and Umrah travel finance will be offered at zero per cent profit rate for tenors up to 12 months.
The bank will not charge any processing fee and the first installment can be paid up to a maximum grace period of 90 days, said a statement from ADIB.
The offer for the ADIB Hajj and Umrah Travel Finance is valid till October 31 while the journey must be completed within one year, by October 31, 2012.
"The ADIB Hajj and Umrah Travel Finance is further proof of the fact that we are well connected to the needs and desires of our core target audience whose hearts yearn to visit the most precious place on earth," said Dhafer Luqman Head of Products & Retail International.
"We feel privileged to be able to help our customers perform the pilgrimage at the lowest cost possible. We expect a large uptake of this product among the faithful this year," he added.-TradeArabia News Service
More Finance & Capital Market Stories
- Bahrain firms plan IPOs
- Serbia wins $1bn Abu Dhabi loan
- Key equity banker resigns from Saudi Fransi
- DMCC to boost Islamic commodity trade with tie-ups
- IDB, KIA units to invest in Morocco
- First Gulf to set up $1bn sukuk in Malaysia
- Singapore’s UOB Bullion and Futures joins DGCX
- Infrastructure investment ‘key to growth’
- BKIC declares 30pc dividend
- StanChart profit falls 16pc in 2013
- Veteran Saudi banker to head AMF
- Dubai World prepays $284m to creditors
- EFG-Hermes sells Damas stake to Mannai
- Ultra rich number to grow 35pc in Mideast
- Saudi IPO market 'set for big year'
- RAK 'exploring' ceramics unit stake sale
- Bahrain Bourse wins key UK award
- Alba backs Euromoney forum
- URC bond rating upgraded to stable outlook
- GCC urged to set up onshore financial centres
- Consolidation push paying off for Bahrain banks
- Mubadala to focus more on US, Europe
- Six banks join plan for shared customer data register
- UAE economy grows 4pc in 2013
- Egypt foreign reserves up to $17.3bn
- StanChart opens second branch in Iraq
- Oil below $90 to hit GCC economies
- Payfort offers zero deposit scheme to SMEs
- In a first, NCB Capital names female CEO
- Du enters $1.17 billion financing deals