Islamic banking cannot be ignored as it is one among the fastest developing segments in the world financial industry. In fact, in a few countries, this type of banking has become very significant. The biggest Islamic banks can be found in the GCC countries. The Islamic Bank finance in Bahrain is very popular and the Kingdom has become a world leader in this field. Although, these banks and conventional ones have similar roles, there are some fundamental differences between them. The main difference lies in the Sharia rules.
Finance for Personal Use
Sometimes, you may not have enough money to meet your obligations for which you require financial assistance. However, you don’t have to worry when you have personal finance in Bahrain offering you the financial help required. They adhere to Islamic principles following the Shariah rules strictly. So, without a problem you can fulfill your dreams and goals. There are so many things in life that you may want to do; but, cannot do them due to lack of finance. Now that you know that loans in Bahrain can be got without difficulty, you can go ahead with your plans for your daughter’s marriage, son’s higher studies, travel plans, renovation work and the like. People who get a regular income and also businessmen can avail of the loan up to 200,000 BD depending on your capability to repay. Even expats are entitled to the finance.
Auto Loans
Car finance in Bahrain is an easy way to drive away a new car without money in your pocket. The good part of an auto loan in Bahrain is that it is Sharia-compliant. All residents can avail of this finance; both nationals as well as expats. Loaded with lots of benefits, the Bahrain auto loan offers flexible options, comprehensive insurance, and easy repayment period that can go up to 7 years. Moreover, the application procedure is easy and quick. Additionally, salary transfer is not mandatory. As long as you have a required minimum salary, you will be eligible for the loan. Self-employed and salaried residents can apply. So, hurry up and submit the required documents to drive off your dream car.
Bahrain Credit Cards
In today’s fast-paced life, a credit card is essential. A credit card in Bahrain will offer you a variety of retail products and financial services. It offers numerous benefits to meet consumers’ aspirations. Cardholders can use the MasterCard to buy what they want and pay the amount within the timeframe which is often 21 days minimum grace period and 51 days maximum. This payment can be made online. SMS notifications are provided for all transactions. Cardholders have the additional benefit of getting free cards for their immediate family members.
