On the occasion of Qatar National Day, Qatar Islamic Bank (QIB) has announced the launch of a new feature on its award-winning QIB mobile app.
The Easy Payment Plan (EPP) feature enables QIB Co-Branded, Revolve and Charge Credit cardholders to convert their transactions to easy instalments giving them more financial flexibility.
Available on the QIB mobile app, the Shariah-compliant Murabaha based Easy Payment Plan (EPP) feature is QIB’s latest addition to the host of innovative features designed to empower its customers and offer them more financial freedom. With the new feature, QIB Co-Branded, Revolve and Charge Credit cardholders can convert their single transactions above QR5,000 completed in the last 35 days as instalment payments. The transactions can be paid in equal instalments over a period of six, nine, 12 or 24 months with attractive rates and without any processing fees.
Moreover, the instalments will be converted to Personal Finance and the funds will be automatically credited to the respective Credit Card from the customer’s account. QIB Credit cardholders can apply for up to 10 EPP and pay in instalments without impacting their credit limit an additional EPP can be available by repaying an existing one.
Commenting on the launch of the new feature, D Anand, QIB’s general manager - Personal Banking Group, said: “We are delighted to introduce a new feature on QIB’s award-winning mobile app offering our customers more convenience to spend anywhere and pay back in easy instalments. The new feature comes as part of the Bank’s digital strategy to simplify its customers’ payment obligations transparently through the mobile app.”
“We continue pushing the services of the banking industry further, enhancing our offering to make it easier for our customers to bank with us. As a customer-centric bank, we aim to provide world class banking solutions to meet the personal and financial aspirations of our clients and redefine digital banking in Qatar,” added Anand.
With over 200 features in its award-winning mobile app, QIB continues to put customers at the heart of its digital transformation strategy, offering them state-of-the-art features making their banking experience more convenient and secure.
To download the app, all citizens and residents in Qatar can visit their respective app stores and search for QIB Mobile. QIB customers can easily self-register to the app using their debit card details.
The Easy Payment Plan (EPP) feature enables QIB Co-Branded, Revolve and Charge Credit cardholders to convert their transactions to easy instalments giving them more financial flexibility.
