IBQ and National Bank of Kuwait (NBK) today launched a joint property finance solution that will allow customers to own properties outside Qatar. 

The launch marks the first time that a local Qatari bank offers a multi-national property finance solution that spans four continents. 

The finance solution will help customers looking to buy properties in the UK, USA, France, Lebanon, Egypt, UAE and Jordan.

The major benefit of the new service is that it will make purchasing property abroad hassle-free.   The simple and straightforward application process involves the customer applying for a loan in Qatar, while IBQ and NBK take care of the rest of the process. Customers will benefit from competitive interest rates and long tenures, said a statement.

Philip King, AGM of retail banking at IBQ, said: “By tying up with our partner NBK on this exciting new service, IBQ continues to provide highly competitive value-added products and benefits and more importantly, the best available choices for our customers looking to purchase property overseas.  Our international reach through the extensive NBK network will ensure the process is simple and direct.”

The unique “You Choose, We Finance” service is yet another exceptional innovation providing more choice and options for retail customers.

Mazin Al Nahedh, NBK general manager for Consumer Banking Group, said: “NBK employs its largest international network to provide its customers with the best investment opportunities and services.  Our partnership with IBQ means that IBQ customers can start looking for properties in the UK, USA, France, Lebanon, Egypt, UAE and Jordan.  We encourage them to benefit from this opportunity to achieve their investment goals.”

The new service is available through NBK’s substantial international network.  IBQ is 30 per cent owned and managed by NBK, the largest bank in Kuwait. NBK’s international presence spans the world’s leading financial centres, including London, Paris, New York, Singapore and Shanghai.  Its regional coverage encompasses Lebanon, Jordan, Iraq, Egypt, Bahrain, Qatar, Saudi Arabia, the UAE and Turkey. – TradeArabia News Service