Qatar Islamic Bank (QIB), Qatar’s leading digital bank, has launched the Qard Hasan for Retirees initiative, a new financing product designed exclusively for retirees.
Developed in collaboration with the General Retirement and Social Insurance Authority (GRISA), this initiative reflects QIB’s commitment to supporting the financial well-being of retired individuals by providing them with access to profit-free financing in line with Sharia principles.
With ‘Qard Hasan’ eligible retirees can apply for financing up to five times their monthly pension, up to $ 82,182 (QR300,000). The financing is available for a tenure of up to 60 months, offering retirees flexibility in managing their financial needs.
“We are pleased to collaborate with GRISA in their initiative supporting the financial well-being of retired individuals. The launch of Qard Hasan for Retirees highlights QIB’s commitment to cater to the evolving needs of this segment in line with the bank’s social responsibility. Through this partnership, QIB ensures that retirees have access to sustainable and transparent financial support, enhancing their financial security.”
QIB Qard Hasan ensures that retirees can access funds without incurring any additional costs, reinforcing QIB’s dedication to providing responsible and inclusive financial solutions.
Retirees can benefit from this financing initiative twice, providing them with crucial financial support when needed. No Takaful insurance is required as part of the financing terms, making the process more accessible and convenient for applicants.
To apply, retirees must submit a completed ‘Qard Hasan’ application form, a recent retirement pension certificate, and a valid Qatar ID, according to the statement.
