Marking the launch, Mr. Nabeel Al Tattan, Executive Vice President, Head of MENA, said that the campaign followed extensive study of the market and available similar services in order to introduce a differentiated financing service that would enable customers to own their dream cars.
Al Tattan noted that "Moteri" financing service is also distinguished by easy repayment periods which the customer would be allowed to specify according to his or her financial status.
Applying will be smooth and quick, and the terms and conditions are flexible and take into consideration the different possible financial situations of the potential customers, Al Tattan said.
Meanwhile, Al Tattan revealed that the first thirty approved applicants will receive, upon signing their forms, free petrol rechargeable cards for six months as a welcome gesture for being early in applying for this distinct service.
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Al Salam Bank-Bahrain launches 'Moteri' vehicle financing
- Bahrain: Tuesday, May 19 - 2009 at 16:37
- PRESS RELEASE
Al Salam Bank-Bahrain launched today a wide-scale campaign for its new vehicle financing service 'Moteri' which will cover all brands and types of vehicles through a unique Shari'a-compliant scheme that would enable customers to own their vehicles with suitable and flexible payment methods.
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Incorporated on 19 January 2006 in the Kingdom of Bahrain with a paid-up capital of BD120m ($318m), Al Salam Bank-Bahrain (B.S.C.) commenced commercial operations on 17 April 2006. The Bank operates under Islamic principles in accordance with regulatory requirements for Islamic banks set by the Central Bank of Bahrain. Al Salam Bank-Bahrain was listed on the Bahrain Stock Exchange on 27 April 2006, and subsequently on the Dubai Financial Market on 26 March 2008.The Bank reported a net profit of BD7.9m ($21m) for the three-month period ended 31 March 2009 registering an increase of 6.5% over BD7.4m reported for similar period in 2008. The earnings per share for the period were 6.6 fils against 6.2 fils for the corresponding period in 2008.
The total assets as of 31 March 2009 grew by 8.4% to reach BD601m ($1,594m) from BD554m ($1,470m) at 31 December 2008.
For further information, please contact:
Adnan Alshaikh
Manager
Corporate Communications
Tel: +973 17560166
Fax: +973 17560003
Posted by Rima Ali Al MashniTuesday, May 19 - 2009 at 16:37 UAE local time (GMT+4)
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