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UAE bank
launches Haj financing service
Thursday, October 21, 2010 10:43:34 PM, WAM
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Related Article |
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Sharjah
Islamic Bank posts $52 mn Q3 profit
The Sharjah Islamic Bank Sunday posted a third quarter net profit
of 191.6 million dirhams (about $52 million).
The balance sheet grew since December 2009 with total assets
reaching 16.3 billion dirhams from 16 billion dirhams.
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Sharjah:
A leading bank in the United Arab Emirates has launched a
no-profit financing service for Haj pilgrims to help its needy
clients perform the holy journey.
Under the theme "perform Haj this year and pay it off over the
year with no profit", the innovative service by Sharjah Islamic
Bank (SIB) will enable a lot of people to perform Haj and pay back
the cost in easy and affordable monthly instalments in one year
without any interest or fees.
Jassem Mohammed Al Baloushi, head of SIB's retail banking group,
said: "The launch of an Islamic financing service for Haj without
any profit or fee is part of our commitment to catering to the
consumer's demand for Islamic products, and of our role as a
national Islamic bank committed to community development by
launching products that serve the society.
Al Baloushi explained that the bank has selected a number of
reputed Haj agencies through which the new service will be
available to clients.
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