- Qatar Islamic Bank (QIB) is the first Islamic bank in Qatar to offer seamless digital auto financing specifically for Tesla buyers.
- Tesla buyers can access QIB’s financing directly through the Tesla website, ensuring a smooth and user-friendly online ordering process.
- The financing offer features competitive rates starting at a profit rate of 2.77% flat, with a grace period of up to six months for Qatari nationals and three months for expatriates.
- The bank has implemented eco-initiatives, such as producing bank cards from recycled plastic and introducing a Carbon Emission Tracker in its mobile app, reinforcing its commitment to sustainable banking practices.
Qatar Islamic Bank (QIB) has introduced a groundbreaking auto financing offer exclusively for Tesla buyers, marking a significant milestone in the country’s Islamic banking sector.
This offer positions QIB as the first and only Islamic bank in Qatar to provide seamless digital financing specifically tailored to Tesla purchases. By launching this offer, QIB reaffirms its commitment to promoting sustainable and eco-friendly financial solutions in line with Qatar’s growing focus on environmental responsibility.
Seamless Digital Experience for Tesla Buyers
Tesla buyers in Qatar can now take advantage of QIB’s auto financing directly through the Tesla website. As part of the vehicle’s online ordering process, customers can choose QIB’s Islamic financing option, creating a smooth, hassle-free experience. This exclusive offer is available until December 31, 2024, giving Tesla buyers ample time to access the financing with ease.
Once the customer selects the “Islamic Financing” option while finalizing their purchase, they will be seamlessly redirected to QIB’s financing platform, ensuring the process remains user-friendly. This integration of financing within the Tesla purchasing journey reflects QIB’s commitment to simplifying digital banking services and offering a unique value proposition for Tesla buyers.
Competitive Rates and Flexible Terms
QIB’s auto financing offer includes highly competitive rates and flexible terms that cater to both Qatari nationals and expatriates. The financing offer begins at a profit rate of 2.77% flat, which is equivalent to a 5.25% reducing rate.
Additionally, the offer provides a grace period of up to six months for Qatari customers, while expatriates can benefit from a grace period of three months. The comprehensive auto Takaful rate stands at an attractive 1.7%, making this financing package even more appealing for Tesla buyers.
By offering such competitive terms, QIB is making it easier for customers to switch to electric vehicles, further supporting the bank’s sustainability agenda and the nation’s broader efforts to reduce its carbon footprint.
Advancing Sustainability and Green Financing
QIB’s auto financing offer for Tesla buyers is part of its wider commitment to advancing green financing in Qatar. The bank is actively encouraging customers to transition to electric vehicles, which aligns with its strategy of supporting environmentally conscious choices. By simplifying the process of purchasing electric cars, QIB is promoting sustainable mobility and empowering customers to contribute to a greener future.
Anand, General Manager of QIB’s Personal Banking Group, expressed his excitement about the initiative, stating, “We are thrilled to launch this unique financing offer for Tesla buyers. It represents a major step in making sustainable financing more accessible, and we are committed to simplifying the financing process for our customers. Through our digital platform, Tesla buyers can effortlessly finance their electric cars at competitive rates, all while supporting environmental sustainability.”
Pioneering Sustainable Banking Practices
QIB continues to lead the way in sustainable banking practices across Qatar. Beyond its preferential financing rates for electric cars, the bank has also implemented several eco-friendly initiatives.
One such initiative includes producing most of its bank cards from 100% recycled plastic, reducing its environmental impact. In addition, QIB has introduced a Carbon Emission Tracker in its mobile app, allowing customers to monitor and reduce their carbon footprint.
These efforts highlight QIB’s proactive approach to sustainability and its goal of integrating environmentally responsible practices into its core banking operations. By doing so, QIB not only meets the evolving financial needs of its customers but also plays a significant role in reducing the overall environmental impact in Qatar.
Supporting a Greener Future
Through its exclusive auto financing offer for Tesla cars, QIB is providing customers with the opportunity to support the transition to electric mobility. The offer simplifies the financing journey, provides competitive rates, and reflects QIB’s broader sustainability vision.
As the leading provider of auto financing in Qatar, QIB’s initiatives are instrumental in encouraging a shift towards green financing and sustainable banking practices, helping the country move towards a more eco-friendly future.
