18 December 2008 Al Hilal Bank Al Hilal Bank , one of the UAE's newest Islamic banks has launched an instant car financing scheme. The new financing product was launched at the five-day Abu Dhabi Motor Show, which opened at Abu Dhabi National Exhibition Centre yesterday. "Our aim is to give the best customer experience to our clients. Al Hilal Al Hilal offers financing up to 100 per cent with repayment schedules that are flexible," said Mohammed Zaqout, Head of Personal Banking. " Al Hilal Al Hilal operates on Islamic banking principles by which Al Hilal Al Hilal purchases the car and sells it to the customer at a profit. The arrangement of the financing, registration and other procedures should take an hour at most and the customer can pick up the keys and drive away," he said. Zaqout further said the flagship Financial Mall branch at Al Sahel Tower on the Corniche will be fully functional soon. It features a car showroom, takaful (insurance), police registration, which will enable customers to walk in and drive out in their dream car. "The principle is a simple one. Customers can walk in, enjoy a cup of coffee and the financing will be arranged and we will register your car with the traffic department. All the customer needs to do is pick up the keys and drive away. The whole process should take less than an hour," Zaqout explained.

By Nissar Hoath

© Emirates Business 24/7 2008 & omar 1.1:zy