Khaleeji Commercial Bank has launched a range of products including the “I’teman” account, the “Easy36” credit card and the “Thabet” account.
The “I’teman” account is compliant with Shari’ah principles and works as an alternative to the conventional overdraft where this inventive product provides corporate customers with a revolving credit limit. Through this account, businesses can manage their cash flows, general expenses and recognise any potential mismatches, in addition to also offering customer comfort of being able to have a standby reserve of emergency cash on hand, transfer through telex, money transfers upon request and various other financial benefits.
The “Easy36” credit card operates as a financial solution in compliance with the Shari’ah, where the credit card is designed for customer ease with all transactions purchased using the card. The credit card holders can repay the same over 36 easy monthly installments. This in addition to being able to change the installment period within 48 hours by contacting the call center. The “Easy36” credit card also provides travel insurance to holders of basic and additional cards with the advantage of receiving additional cards on-demand. Cardholders can collect travel miles with Gulf Air and Qatar Airways with any travel bookings made with the card.
The “Thabet” account is a Shari’ah compliant account based on Murabaha principle with guaranteed capital profits with a minimum of BD 5,000. The account gives the bank’s clients the opportunity to enjoy 3.25 per cent profit rate over two years with monthly profit distribution.
“The launch of these products mark another milestone in our quest to make banking truly simple and Shari’ah compliant for our customers. We remain firm on our objective to deliver banking products and services tailored to meet the diverse needs of our ever-growing customer base by leveraging technology to make banking faster, safer and more accessible for all our customers,” said Khalil Al Meer, CEO of KHCB.
Khalil Al Meer CEO Khaleeji Commercial Bank