Published: Thursday, 14 August, 2008, 01:02 AM Doha Time
QNB Al Islami has launched Tawlia, a promotion for new salary accounts, which QNB’s Islamic branch said is the first of its kind in Qatar.
The Shariah-based finance promotion runs until September 25.
Tawlia involves “the sale of a commodity or service to the customer at its purchase or cost price” with zero profit for the bank. Although Tawlia is based on an Islamic finance formula in existence, QNB Al Islami is the first to launch the product in the local market. Tawlia has been launched after obtaining approval from the Shariah Advisory Board.
This product is only available to new customers who apply for a salaried account at QNB Al Islami during the promotion.
The limited-time promotion also includes three free-of-charge outgoing cash transfers for all new QNB Al Islami salaried account applicants who apply for Tawlia.
QNB Al Islami will also offer 25% reduced finance fees for all other finance products offered by the bank during the promotion period.
