Alfardan Automobiles ties up with QIB to offer Islamic Financing services on BMW vehicles
18/06/2014, Doha, Qatar
Alfardan Automobiles, the official BMW Group importer in Qatar, has signed a first ever exclusive partnership with Qatar Islamic Bank (QIB), Qatar’s leading Islamic Bank, to provide Islamic Finance solutions to their customers.
The agreement took place at a signing ceremony at the Alfardan Automobiles West Bay Showroom between Mr D. Anand, General Manager, QIB’s Personal Banking Group and Mr. Mohammed Kandeel, Chief Operating Officer of Alfardan Automobiles on 16th of June, 2014.
Commenting on the importance of this agreement, Mr. Mohammed, Kandeel Chief Operating Officer, Alfardan Automotive Group said: “Every year, we seek out new ways to help make owning of a BMW vehicle easier for our customers. The signing of the agreement with Qatar Islamic Bank is important because for the first time ever we are able to offer exclusive Islamic Finance solutions to our customers through one of the premier financial institutions in the State of Qatar.”
Mr. D. Anand, QIB’s Personal Banking Group General Manager, said that this agreement provides added value benefits to both QIB and Al Fardan Automobiles customers. Anand added: “This strategic tie-up is yet another proof of our on-going strategy to strengthen our position as the leading Bank in providing Shari’a compliant financing solutions.”
QIB is one of the leading Banks in Qatar’s retail banking market – as such it formed the perfect synergy with Alfardan Automobiles and BMW Group. Under the new agreement, customers will benefit from Islamic Financing solutions available across the entire BMW vehicle range.
As the State of Qatar gears up to welcome the Holy Month of Ramadan, the agreement is poised to see many customers benefit from the services as well as the unique Ramadan offers that the BMW Group importer will announce in the upcoming weeks.
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