Abu Dhabi Islamic Bank launches its latest product: ‘Kawareb’ Boat Finance
As part of its mission to become the premier universal Islamic financial institution, operating in accordance with Shari’a principles, by sharply focusing on customer needs and offering innovative products and services, ADIB has launched its latest product for Boat Finance ‘Kawareb’.
Abu Dhabi, 13 September 2005: Kawareb has been designed specifically for clients who are interested in buying their own boat in a simple and Shari’a compliant manner.
Kawareb is an innovative product offering a Shari’a compliant solution with total transparency and without any hidden charges or fees. This product is one of the systems through which ADIB provides economic Shari’a compliant banking solutions designed to its customers, and is a response to the increasing demands for Islamic financial products.
Kawareb offers a competitive solution for financing a new boat with a limit of 1 million AED. There is no need for a down payment and there is a monthly installment holiday of 60 days. Kawareb is in line with ADIB’s strategy to concentrate on the Islamic retail banking products and activities that focus on individuals needs.
ADIB has witnessed many successes in the last year by enhancing its solutions and relaunching several products, such as the car finance ‘Sahel’, education finance ‘Noor’ and the Islamic Visa covered card, all of which provide individuals with innovative financial solutions.