Dubai Islamic Bank Offers Auto Finance At Profit Rates Starting From 4.50 Per Cent

Dubai Islamic Bank (DIB), the largest Islamic bank in the UAE, announced that it is offering auto finance at profit rates starting from just 4.50 per cent p.a. Al Islami Auto Finance is available for up to 72 months, with a minimum monthly salary requirement of AED 3,000. No down payment or salary transfer is required to avail of this offer, which covers both new and pre-owned vehicles.

This attractive financing demonstrates the bank’s generally positive outlook as well as its strong liquidity position, and is in line with its expansion plans announced earlier this year. By the end of this year, DIB will open 10 new branches, expanding its nationwide network to 64 branches, further strengthening its presence across the UAE, while also offering an overall enhanced customer experience.

“As the provider of auto finance for one in every three cars financed in the UAE, Al Islami Auto Finance has long been the leading solution of choice for consumers here,” said Dr. Adnan Chilwan, Chief of Retail and Business Banking, DIB. “In today’s highly competitive market, the bank has recognised the need for flexible auto finance options – which is why we are very pleased to announce this extremely attractive offer that provides a host of valuable benefits.”

DIB has the country’s largest team of qualified auto finance professionals, many of whom are available directly at dealer locations. The bank offers an unmatched range of Sharia-compliant auto financing solutions – along with value-added services such as insurance finance and service contract finance – at extremely competitive profit rates, catering to a broad cross-section of the UAE population.

Dubai Bank launches tailored financing package for Emiratis

Dubai Bank today announced the launch of a unique financing solution focusing on Personal and Property financing. Targeted at UAE nationals employed in the Government and Semi-Government sectors, the product is designed to provide this group with greater and more flexible access to the financing they need.One of the key features of the new package is the availability of 80 per cent financing for real estate. Offered at competitive profit rates, with faster, streamlined processing times, this will enable eligible UAE nationals to purchase completed properties or finance construction of freehold properties in Dubai and Abu Dhabi. Eligible individuals can also benefit from the personal financing solution, or simply opt for a free-for-life Covered Card with a three month waiver of profit fees. The Covered Card offers a host of other benefits, including free travel protection, discounted travel bookings, limousine and airport lounge access. Customers opting for the Platinum card can also avail of the AED 100,000 Free Takaful offer. “Our new financing solution, developed in line with our prudent risk management policies, enables UAE nationals to achieve their short and long term financial goals, while having a positive impact on the overall economy.” said Mohammad Amiri, Head of Retail Finance, Dubai Bank. “Our initiatives have always been driven by innovation and a pragmatic business approach, which have helped us stay firmly on the growth path while serving the needs of our customers.”

Noor Islamic Bank Announces Grand Prize Winners For Deposits Campaign

Noor Islamic Bank PJSC held its first grand draw for the ‘Win-Win’ Deposits campaign launched last month, awarding a BMW 3-series as a monthly top prize. This is in addition to the three Toyota Yaris awarded already as part of the weekly draw. The winner of the BMW grand prize, Ahmed Sultan Ahmed, also received free comprehensive motor coverage from Noor Takaful.

Noor Islamic Bank has launched an extensive campaign to reward customers that place deposits with the bank. To avail this offer, customers need to make a minimum deposit of AED 5,000 in Savings, Dual Savings or Savings Plus accounts.

Term Deposit holders with a minimum monthly balance of AED25,000 or an Investment Deposit account of minimum AED250,000 are also eligible for the promotion. The Bank is also offering up to 7 percent anticipated profit rate on Investment Deposits*.

Galal Kulaib, CEO, Noor Islamic Bank said: “The deposit campaign is part of our strategy to provide our valued customers the right products and tools to help them earn enhanced returns on their funds deposited with us. This campaign is geared towards offering customers dual benefits, competitive anticipated profit rates and an opportunity to win a brand new car every week.”

As part of the free motor coverage value package provided by Noor Takaful, the monthly grand prize winner can avail of 24 hour road side assistance, agency repairs, and coverage extension to Oman. Noor Takaful also offers its customers multi-policy discounts and flexible takaful benefits to meet individual coverage needs.

Noor Islamic Bank’s promotion initiative is extended to new and existing customers that open savings and investment deposit accounts with the bank. Each deposit will earn entries into the draw.

The promotion is available through Noor Islamic Bank branches, service centres, and all electronic distribution networks in Abu Dhabi, Dubai, and Sharjah.

With 14 locations across the UAE, Noor Islamic Bank plans to expand its network with six more full service branches over the next few months, taking the total number to 20 by year-end.

Launched in January 2008, Noor Islamic Bank has earned a solid reputation for performance, premium service and customer care and augmented its electronic banking network to cover more than 84 ATMs across the UAE.

In addition, the bank also provides round-the-clock accessibility and convenience to its clients through its self service facilities of Internet banking, phone banking, SMS as well as electronic cash and cheque deposit services.

First Winners Of DIB ’Save More, Earn More, Win More’ Promotion Take Home Prizes

Dubai Islamic Bank (DIB) today announced the first 16 winners of its ‘Save More, Earn More, Win More’ deposits promotion for Al Islami Savings and Investment Deposit Accounts.

Mr. Ahmed Salem Al Shamisi, a UAE national, was the lucky winner of a Mercedes E230 Avantgarde sportscar. The Mercedes was handed over to Mr. Al Shamisi by Mr. Rashid Mahboob, Head of Branches Management, at the Dubai Islamic Bank offices. Fifteen other DIB customers took home five Home Centre vouchers of AED 20,000 each and ten Sharaf DG vouchers of AED 10,000 each – a total of AED 200,000 worth of gifts.

“DIB would like to encourage new and existing customers to benefit from this unique investment opportunity,” said Dr. Adnan Chilwan, Chief of Retail and Business Banking, DIB. “We have always focused on the evolving needs of our customers and strive to reward them on a regular basis. The ‘Save More, Earn More, Win More’ promotion gives our customers the dual benefits of high returns as well as an opportunity to win Mercedes sportscars and other great prizes. It has proven to be a big success among customers, who have responded with positive feedback, including by increasing their deposits with DIB to improve their chances of winning.”

Continuing until May 31, 2009, the promotion provides account holders the twin benefits of earning high profit rates, as well as opportunities to win prizes worth AED 1 million. To qualify for entry into the raffle draw, Al Islami Savings account holders are required to maintain an average monthly balance of AED 10,000 and get an extra entry for every additional average balance of AED 10,000.

Investment Deposit Account customers can enter into the raffle by maintaining an average monthly deposit of AED 25,000. Investment Deposit Account holders will be eligible for an extra entry in the draw for every additional deposit of AED 25,000 per month.

The second and third raffle draws will be conducted on the fifth of May and June.