Qatar Islamic Bank (QIB) has launched an auto finance promotion on its site that runs until the end of April, coinciding with the holy month of Ramadan. 

The nation’s leading digital bank has collaborated with a range of car dealers and brands to provide financing packages to customers, with a flat profit rate starting at 2.63%. Customers will pay fixed monthly instalments, but no administration charges. 

In a bid to promote a green initiative, in line with Qatar National Vision 2030, to boost uptake of sustainable vehicles, greater discounts are being offered on electric and hybrid vehicles under the company’s green car offer.

Other benefits include a grace period of six months for Qatari nationals and three months for expatriates, Takaful insurance (a type of Islamic insurance where participants pay into a pool system) at 1.60%, a complimentary QIB-MyBook subscription, QIB’s money saving app, and a complimentary credit card for a year. 

The green car offer is a further addition in QIB’s drive to promote electric and hybrid vehicles, joining its carbon emission tracker mobile app, which helps customers monitor their carbon footprint.

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