Al Baraka starts new finance campaign
Manama, October 15, 2013
Bahrain-based Al Baraka Islamic Bank has launched a competitive promotional campaign for mortgage and vehicle finance with very low profit rates and a grace period of up to four months.
The new offer also includes many unique features and will continue until December 31.
The offer includes charging low profit rates for financing residential properties and the purchase of cars, in addition to giving grace period to client to start paying the vehicle finance first instalment up to four months, with the freedom to choose to pay an advance payment of the financing and transferring his/her salary to the bank.
The auto finance campaign also includes waiving the life insurance fee (optional), and extending the financing period up to seven years.
"Through the continued promotional offers and added-value services it offers, the bank is committed to proceed with the implementation of its strategy to strengthen its presence and share in the local market and at the same time meet the various financing needs of customers," Al Baraka Islamic Bank chief executive and board member Mohamed Al Mutaweh said.
The bank's assistant general manager for retail banking and domestic branches Rashid Alalaiwi said: "Our aim from this initiative is to ease the financial burden for our customers, as we fully understand their need for more flexibility in repayment and the cost of financing facilities, which we hope will help them to bear their financial burden during this season."-TradeArabia News Service
More Finance & Capital Market Stories
- KFH-Bahrain rebrands priority banking
- Bank Nizwa wins top Islamic bank award
- Qatar labour costs may jump: IMF
- Kuwait Q3 trade surplus hits $23bn
- Dubai trade growth up 7.6pc to $362bn
- Deloitte appoints new managing director
- Al Ramz tops UAE trading in Feb
- IFC in $150m loan deal with Bank Audi
- SME funding focus for Abu Dhabi forum
- Insurance House posts second year of profit
- ETF global assets hit record $2.44 trillion
- 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