QATAR ISLAMIC BANK Mortgage Loan - For Expat
|Minimum Salary needed||QR 10,000|
|Maximum amount available||30% Down Payment|
|Length of Loan||20 years|
|Profit Rate||Not mentioned|
|Upfront Fees ( if any )||No|
|Eligibility||50% of the total Salary; Age between 21 - 60; Confirmed Employment Status; Evaluation of the property through two companies accredited by QIB, and the subsequent reports|
|Main Features||Takaful insurance for the finance; Attractive profit rates; Shari'a-compliant; No guarantor required; Fixed monthly installments with transparent service; Ability to pay other finances concurrently; Available for approved and non-approved companies|
QATAR ISLAMIC BANK
One of the largest financial institutions, Qatar Islamic Bank (QIB) is a Sharia-compliant consumer-centric bank that continues to excel at providing products and services that are personalized to match one’s unique needs. The bank was established in 1982 and provides a wide range of investment services in addition to retail and corporate banking products. The bank also has a number of international branches, notably QIB London and AFH in Lebanon. The bank’s current investment strategy is closely linked to large scale financing of infrastructure projects as well as investments focused on the trade sector and a number of major Small Market Enterprises (SMEs).
Qatar’s capital, Doha, is home to impressive architectural structures including The Museum of Islamic Arts. The museum has some of the world’s best collection of fine Persian rugs, renowned artworks and wood carvings as well as beautiful Turkish mosaics. If you further seek to delve into the Islamic arts and culture that Doha has to offer, then the Mathaf Arab Museum of Modern Art should be visited. This educational institute is dedicated to Arab culture and is home to a unique collection of modern Arab art unlike any other found elsewhere. Other great museums to visit include the Islamic Culture Center and the Qatar National Museum and Aquarium.
Expatriates can now own their very own property in Qatar thanks to mortgage loan financial product provided by Qatar Islamic Bank. Features of the product include a long repayment tenure of 20 years. Moreover, maximum financing of 70% of the property value is provided with a 30% down payment being required. The loan does not feature any administration charges or the need for a guarantor. Fixed monthly installments set to a maximum of 50% of one’s basic salary and social charges are affixed to this loan option. Further, the loan product features the ability to pay off other finances concurrently.