Dubai Islamic Bank (DIB), the largest Islamic bank in the UAE, is offering auto finance for new and pre-owned vehicles at an annual profit rate starting from just 4.50 per cent.

Al Islami Auto Finance is available for up to 72 months, with a minimum monthly salary requirement of Dh3,000 ($817). No down payment or salary transfer is required to avail of this offer, which covers both new and pre-owned vehicles, said a DIB statement.

“This attractive financing demonstrates the bank’s generally positive outlook as well as its strong liquidity position, and is in line with its expansion plans announced earlier this year,” remarked Dr. Adnan Chilwan, chief of Retail and Business Banking, DIB.

By the end of this year, DIB will open 10 new branches, expanding its nationwide network to 64 branches, further strengthening its presence across the UAE, while also offering an overall enhanced customer experience.

“As the provider of auto finance for one in every three cars financed in the UAE, Al Islami Auto Finance has long been the leading solution of choice for consumers here,” Dr Chilwan stated.

“In today’s highly competitive market, the bank has recognised the need for flexible auto finance options – which is why we are very pleased to announce this extremely attractive offer that provides a host of valuable benefits.”

DIB has the country’s largest team of qualified auto finance professionals, many of whom are available directly at dealer locations.

The bank offers an unmatched range of Sharia-compliant auto financing solutions – along with value-added services such as insurance finance and service contract finance – at extremely competitive profit rates, catering to a broad cross-section of the UAE population, he added.-TradeArabia News Service